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MUMBAI: If the substantially differing estimates of gas reserves from the joint venture partners in the Krishna-Godavari (K-G) basin off the east coast have been puzzling oil industry watchers, there is now some official confirmation. Reliance Industries Ltd (RIL), operator of the country’s premier deep water gas acreage, has...
NEW DELHI: With the India-Iran gas pipeline and Turkmenistan-Afghanistan-Pakistan-India gas pipeline scuppered by security concerns, the commerce ministry has fished out a decade-old proposal to link South Asia with Europe by sea, rail and roads. Designed as a trade route spanning Central Asia, the Caucasus and Russia, the unique...
NEW DELHI: Oil and Natural Gas Corporation (ONGC) is set to regain its tag of the country’s most profitable company, which it had lost to Reliance Industries Ltd (RIL) during financial year 2010-11. RIL on Friday declared a net profit of Rs 20,040 crore for the 2011-12, a marginal...
NEW DELHI: The oil ministry will grant ONGC another six months to drill the required number of wells and draw plans for producing coal bed methane (CBM) from the Raniganj-north block in West Bengal, which was given to the state-run firm nine years ago. This will be the third...
MUMBAI: Reliance Industries’ (RIL) fourth quarter results have thrown up numbers that would worry investors. The country’s largest private sector company’s return on capital employed (RoCE) – showing how much a company earns after deploying its capital – has been falling in the past four quarters. It declined from...
MUMBAI: Reliance Industries’ $3.5 billion investment in shale gas businesses in the US has begun to bear fruit. The company in its quarterly presentation to analysts said shale gas was profitable despite low gas prices. The shale gas revenue in fourth quarter stood at $250 million, while profit after...
Cairn India’s Rajasthan block was now estimated to hold a record 7.3 billion barrels of oil reserves that could produce 15 million tonnes of oil, the highest by any field in India, the company said. The crown-jewel Rajasthan block is now estimated to hold discovered and yet to be...
MUMBAI/AHMEDABAD: Rolling out the first 2.5 Mw project under Gandhinagar Photovoltaic Rooftop Programme, Azure Power has forayed into rooftop solar power generation. A first of its kind in India, the project entails energy from aggregated rooftop portfolio being sold to one off-taker. According to Inderpreet Wadhwa, CEO, Azure Power,...
NEW DELHI: The global venture capital funding in the wind energy sector has got off to a strong start with deals worth $ 240 million for 12 deals in the first quarter of this calender year. According to Mercom Capital Group, a global clean energy communications and consulting firm,...
NEW DELHI: The government is weighing a new coal pricing dispensation to help Coal India (CIL) recover the extra cost of imported coal it might have to give power plants to comply with the fuel supply agreement (FSA). The agreement means Coal India must guarantee supply of at least...
BHUBANESWAR: Chennai-based Neyveli Lignite Corporation Ltd (NLC), a navratna public sector unit, has evinced interest in setting up a 2,000-Mw coal-fired power unit in Odisha through a joint venture (JV) with a state government owned PSU. The proposal envisages an investment of around Rs 10,000 crore. NLC would prefer...
BHUBANESWAR: Thermal coal imports through Paradip port improved by 50 per cent to six million tonnes during 2011-12. This comprised the lion’s share of the 16 million tonnes of import traffic handled by the port during the year. The sharp jump in coal import through the port is attributed...
The much-awaited Russian-built aircraft carrier Admiral Gorshkov will be commissioned in the Indian Navy on December 4 this year and the certain trials that needed to be done will now be completed post its induction in the force. Gorshkov, rechristened in the Indian Navy as INS Vikramaditya, has been...
NEW DELHI: This Monday, and then again on Monday the 30th, Japanese and Indian officials will meet to impart momentum to what is arguably New Delhi’s most important partnership in Asia, but one that has consistently underperformed. These meetings seek to take forward a relationship that has the economic...
The world’s largest chopper-maker Sikorsky Aircraft, which has a joint venture with the Tatas for assembling helicopter cabins, is targeting to corner up to 30 percent market share in India over the next five years. “We expect to corner around 25-30 percent of the growth (in new choppers sales...
BEIJING: Continuing its tirade against the successful launch of Agni V, Chinese state media accused New Delhi of buckling under NATO pressure to cut down the missile’s range from 9000 km to 5000 km. The state-run Global Times which derided the missile even before it was launched saying that...
NEW DELHI: Slowly but surely emerging as a powerful three-dimensional “blue-water” force to protect India’s geo-strategic interests stretching from Hormuz Strait to Malacca Strait, the Navy is now also focusing on creating high-tech “sea warriors”. The force, in fact, is steaming ahead with plans to ensure all its new...
India’s Tomahawk-like long range cruise missile Nirbhay is expected to be test-fired for the first time in July-August this year, according to the Dr V.G. Sekaran, director of the Advanced Systems Lab (ASL) at DRDO. This will be, without a doubt, the most significant weapon test since, perhaps, the...