11844 stories by IPA Staff
Coal Regulator Plan To Be Presented To Cabinet Soon
NEW DELHI: India’s draft Bill on coal regulator is ready and will be presented to the cabinet soon, coal secretary Alok Perti said on Tuesday. “A coal regulator is important. It will certainly add to improving the situation,” said Perti, as the country struggles to produce enough of the...
Tata Power's Bid To Raise Tariff Irks State Utilities
AHMEDABAD: State utilities have asked Tata Power to legally contest the Indonesian government’s decree that has raised the cost of coal for its Rs 17,000-crore Mundra project, instead of trying to raise the tariff the company had bid to win the project. The utilities’ resistance to any increase in...
Cairn India To Pay Landowners More For Pipeline Project
NEW DELHI: Cairn India has agreed to double the compensation to the farmers and landowners resisting construction of its pipeline project in Rajasthan and Gujarat. The proposed pipeline will connect its Rajasthan oilfield to the crude oil shipping facility at Bhogat in coastal Gujarat. The company now produces one...
Essar Commissions Diesel Hydrotreater Unit At Vadinar
MUMBAI/AHMEDABAD: Essar Group-owned Essar Oil Ltd has commissioned a diesel hydrotreater unit-I (DHDT-I) at its Vadinar refinery in Gujarat, a company statement informed on Tuesday. The unit would ensure that the diesel produced at the refinery will be capable of meeting Euro V specifications. The company informed that the...
RIL Gets Approval To Recover $3.99 Billion From D6 Block Sales
NEW DELHI: The management committee of Reliance-operated D6 block, which is headed by the director general of hydrocarbons, has so far granted approval for the company to recover only $3.99 billion of its cost from sale of oil and gas out of its claim of $9.47 billion, oil minister...
ONGC's Insurance Premiums Likely To Rise 15-20%
MUMBAI: Oil and Natural Gas Corporation (ONGC) may have to pay higher premiums when its insurance policy comes for renewal on May 11. Last week, ONGC, which holds the country’s biggest insurance policy, had floated a tender to the underwriters to primarily cover its offshore assets worth $33.7 billion....
Oil Firms’ Losses On Fuel Sales May Spike Next Fiscal
NEW DELHI: Government-owned oil marketing companies (OMCs) may witness a 52% jump in losses on account of selling fuel below cost at state-mandated prices to Rs.2 trillion in the next financial year, said R.S. Butola, chairman, Indian Oil Corp. Ltd (IOC), the nation’s largest fuel retailer. Such an increase...
Management Committee Of D6 Block Has Approved Only $3.99 Billion Cost Recovery, Jaipal Reddy
The management committee (MC) of Reliance-operated D6 block, which is headed by the director general of hydrocarbons, has approved only $3.99 billion cost recovery against Reliance Industries’ claim of $9.47 billion, oil minister Jaipal Reddy said. “For this PSC (production sharing contract of D6 block), while contractor has claimed...
Energy Firms To Cash In On LNG Import Needs
MUMBAI: The absence of new gas finds and declining production from Reliance Industries’ flagship Krishna-Godavari-D6 field is making the business of gas import attractive. In the past year, Petronet LNG and Shell’s Hazira have talked of plans to expand capacity at their terminals. The Reliance Industries-BP combine and British...
Infy Hints At Dropping Bengal Plan
BANGALORE: With West Bengal chief minister Mamata Banerjee toughening her stand on not granting SEZ status to the proposed Infosys facility in the state, the IT major may have to think in terms of developing alternative centres like Bhubaneswar, the company’s executive co-chairman Kris Gopalakrishnan said. “I am not...
Top Domestic Drug Firms To Seek Change In Compulsory Licence Grant Model
NEW DELHI: A day after the patent controller issued the first compulsory licence in the country to Natco Pharma, top domestic drug firms are gearing up to seek a change in the mechanism through which a compulsory licence is granted in India. The Indian way of granting a compulsory...
Selloff Target Set At R30K Crore For Next Fiscal
NEW DELHI: Finance minister Pranab Mukherjee on Tuesday said the government has set a target of R30,000 crore from stake sales in state-run firms in the next fiscal. The figure is lower than R40,000 crore, which is the target for the current fiscal. In a written reply to a...
Pranab Mukherjee-Led Panel To Decide On 2G Issues
NEW DELHI: The telecom department will ask the Empowered Group of Ministers (EGoM), headed by Pranab Mukherjee, to take the final call on all issues related to upcoming auction of second generation (2G) bandwidth following the Supreme Court’s move to cancel 122 licences last month. It has prepared a...
Panel Suggests Bigger FII Play In Asset Reconstruction Companies
NEW DELHI: A government-appointed advisory group on asset reconstruction firms has favoured $20 billion limit for investments by foreign institutional investors in security receipts (SRs) issued by securitisation firms. The report of the advisory group, which has now been submitted to Finance Minister Pranab Mukherjee, had also recommended that...
Rail Budget: Safety Of Passengers Is My First Priority , Says Dinesh Trivedi
NEW DELHI: Railway minister Dinesh Trivedi has started with the presentation of his maiden Railway Budget in Parliament. Safety is my first priority and sole emphasis, Dinesh Trivedi said reading out his budget speech. He said time has come to think in terms of one national policy for Indian...
Nuclear Power Corporation Pursues Capacity Addition Plans
MUMBAI: State-run Nuclear Power Corporation is pursuing plant development work in Maharashtra,Gujarat, Andhra Pradesh, Madhya Pradesh and Harayana despite opposition to nuclear power generation. These projects are based on procurement of nuclear reactors, especially from Areva, GE-Hitachi, Westinghouse and from domestic suppliers. Moreover, despite stoppage of work at units...
Malaysia Evinces Investing Interest In Hydro-Electric Power In India
CHENNAI: Aiming to strengthen trade relations with India, Malaysia today offered its expertise and evinced interest in investing in hydro-electric power, Malaysian Second Minster for Resource Planning and Environment Awang Tengah Ali Hasan said here today. “We are looking at investments and sharing our expertise on hydro (electric) power...
Mundra With 4,620 Mw Is World’s Largest Private Power Plant
MUMBAI: Adani Power synchronized the fifth unit of the Mundra power plant this week, taking its total generating capacity to 4,620MW, making it the world’s largest single-location coal-fired plant in the private sector.China,Poland and Taiwan have three thermal power plants exceeding 5,000 MW but they are all state-owned, making...
