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NEW DELHI: International Coal Ventures Ltd (ICVL), a consortium of state-run firms with the mandate of acquiring coal assets abroad, may come under the jurisdiction of steel ministry after NTPC expressed its desire to opt out of the venture. “There is a question mark on the shape of ICVL....
NEW DELHI: State-owned Coal India Ltd (CIL) has entered into fuel supply agreements (FSAs) with ten power firms for supplying a minimum assured quantity of fuel to power producers as per the government directive. “It’s ten on last count…Everyday they are doing,” Zohra Chatterjee, Additional Secretary, Ministry of Coal,...
NEW DELHI: The oil ministry plans to take coal bed methane (CBM) pricing matters to a ministerial panel as it sees a wide gap between prices offered by customers to Reliance Industries and Essar, a move that can further delay approvals, government and industry officials said. “Reliance CBM price...
NEW DELHI: India shipped in about 10 per cent less oil from Iran in March from the previous month, Reuters data showed, its second straight cut since the United States urged consumers to rein in purchases to pressure Tehran over its nuclear programme. India’s imports from Iran were up...
NEW DELHI: An empowered group of ministers led by Pranab Mukherjee will meet by the end of May to consider raising the prices of diesel, LPG and kerosene in order to help fuel retailers IOC, HPCL and BPCL cut their losses and to restrict the outgo of state subsidy....
NEW DELHI: A Parliamentary panel has asked oil ministry and DGH to closely monitor Reliance Industries’ flagging KG-D6 gas fields saying any production decline should be supported by proper evaluation. RIL’s KG-D6 fields have seen output drop by about 45% to less than 34 million standard cubic meters per...
NEW DELHI: Director general of hydrocarbons, SK Srivastava, will take charge as chairman of OilIndiaon Tuesday, ending a tumultuous two-year tenure in which he blamed Reliance Industries for the fall in natural gas output from the D6 block and faced criticism for backing out of crucial meetings. Srivastava held...
The government has ordered RIL to sign agreements with NTPC and 10 city gas distribution firms for supply of gas from KG-D6 fields. The state-owned power producer NTPC Ltd had requested the Ministry of Petroleum and Natural Gas to facilitate supply of balance gas to its NCR power plants....
NEW DELHI: State-owned oil companies today reduced jet fuel prices by a marginal Rs 312 per kilolitre or kl, the second reduction in rates this month. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was reduced by Rs 311.74 per kl, or 0.46 per cent,...
Reliance Industries has announced several new large-scale projects for next 4-5 years in refining and petrochemical space, which shows the company has begun its next big capex cycle. This will put to rest the uncertainties involving the company’s plans for its growing pile of cash. Nevertheless, the projects are...
SINGAPORE: Oil was down in quiet Asian trade today on forecasts of aUSstockpile gain as well as amplified worries over the euro zone afterSpainannounced that it had fallen into recession, analysts said. New York’s main contract, light sweet crude for delivery in June, shed 15 cents to $104.72 per...
NEW DELHI: Steel tycoon Lakshmi N Mittal may in future go for an initial public offering (IPO) of the just-commissioned Guru Gobind Singh Refinery in Bathinda, where a low-cost expansion is planned to raise its annual capacity from nine million tonnes to 11.2 million tonnes. As for its cost,...
SINGAPORE: Oil prices edged lower in Asia today, with investors fretting over stuttering growth in the US as political and economic uncertainty in the euro zone weighed, analysts said. New York’s main contract, West Texas Intermediate crude for delivery in June was down 21 cents to $104.72 per barrel...
The Power Ministry has set up a panel to look into various proposals including introduction of appraisal system for central and state electricity regulators. The mandate of the committee is to examine and make recommendations on proposed amendments in the Electricity Act 2003. Sources said the panel, chaired by...
NEW DELHI: The Rajasthan government has scrapped tenders worth Rs 12,000 crore that were bagged by Bharat Heavy Electricals Ltd (BHEL) more than a year before for two separate thermal power projects in the state. Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RVUN), a state government company, has scrapped EPC...
MUMBAI: A power ministry directive last week to the Central Electricity Regulatory Commission (CERC) has once again exposed the reluctance of Maharashtra’s power distribution companies to provide open access to consumers of electricity in the category of 1 megawatt and above. Discoms, which are currently reeling under an acute...
MUMBAI: The Nuclear Power Corporation (NPC), which is working on a war-footing for the commissioning of first phase (1,000-Mw) of Kudankulam nuclear project, has achieved yet another milestone. The state-run entity responsible for the generation of nuclear power for electricity has completed the prerequisites for opening the reactor pressure...
NEW DELHI: The National Solar Mission, which aims to install 20,000 MW capacity of solar energy by 2020, has commissioned 89% of its allotted capacity in its first stage, government officials said. The government had signed power purchase agreements (PPA) with 28 solar power developers for 140-MW solar photo...