IPA Special

RIL, Tatarstan In Pact For Petrochem, Refining Biz

MUMBAI: Mukesh Ambani-controlled Reliance Industries Ltd (RIL) has entered into an agreement for partnering in petrochemicals and crude refining businesses with the Republic of Tatarstan, part of the Russian Federation, three persons familiar with the development said. The tie-up could lead to RIL investing in a petrochemical facility or...

Apr 6 · >

Reliance Industries, BP Submit Revised Field Development Plan

NEW DELHI: With KG-D6 output hitting an all- time low, Reliance Industries and its British partner BP plc have submitted to the government a revised field development plan for enhancing gas production from MA field in the block. RIL-BP propose to drill one gas production well on the MA...

Apr 6 · >

Oil Likely To Hit $150, Gold Prices At $2,000: Sector Investment

LONDON: Oil and gold prices are likely to hit record highs later this year due to instability in the Middle East and recurring sovereign debt problems, a London-based fund manager said. Angelos Damaskos, the chief executive of Sector Investment Managers, said its Junior Oils fund has been up by...

Apr 6 · >

Iran Loses Oil Buyer Greece Over Payment Restraints

DUBAI:Iran’s oil flows to Greece have stopped this month, depriving the Islamic Republic of one of its most loyal European customers and leaving Greece with its financing troubles struggling to buy elsewhere. The European Union will impose a full embargo on Iranian oil imports from July 1 as part...

Apr 6 · >

China Ship Insurer Deals New Blow To Iran Oil Exports

SINGAPORE(Reuters) – A major Chinese ship insurer will halt indemnity cover for tankers carrying Iranian oil from July, dealing a blow that narrows the insurance options for Tehran’s main export already constricted by payment barriers caused by Western sanctions. With Western sanctions on Tehran increasing, sources at the China...

Apr 6 · >

BHEL Eligible For Maharatna Status

NEW DELHI: State-run BHEL is eligible to seek the Maharatna status, which would provide the power equipment maker with more financial autonomy, according to the Department of Public Enterprises. “The company meets the eligibility criteria for grant of Maharatna status,” a Department of Public Enterprises (DPE) official said. A...

Apr 6 · >

Strategic Asset NPCIL On Divestment Radar

NEW DELHI: Keen to shore up investor interest in its stake sale programme, the government for the first time is considering a proposal to disinvest equity in the state-owned Nuclear Power Corporation of India (NPCIL) as part of its disinvestment programme for 2012-13. Until now, the strategic area of...

Apr 6 · >

Race For Chairman's Post At AEC, NPC Hots Up

MUMBAI: A race for the post of chairman of the Atomic Energy Commission (AEC) is on, as incumbent Srikumar Banerjee is scheduled to retire on April 30. Top contenders include Bhabha Atomic Energy Centre (BARC) Director Ratan Kumar Sinha, Department of Atomic Energy Director (strategic planning group) Ravi B...

Apr 6 · >

Greater Push To Wind Energy

BANGALORE: As revised estimates point to a two-fold increase in India’s potential for wind energy generation with the use of taller towers for wind turbines, the Centre for Wind Energy Technology (C-WET) is setting up 75 monitoring stations across the country to validate the prediction and also assess the...

Apr 6 · >

Centre Mulls Divestment In 6 Coal India Arms

KOLKATA: The Centre is considering a proposal to list six profit-making wholly-owned subsidiaries of Coal India Ltd. The move is part of a proposal to disinvest in 11 mini-Ratna central public sector undertakings — out of a total of 70 — in the first phase. The mining companies are...

Apr 6 · >