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NEW DELHI: An army under effective gag orders is reacting with incredulousness and outrage to a The Indian Express report on Wednesday, under a banner headline, which recounted an “unexpected” and “non-notified” move of two Army units towards Delhi on the day that Army chief, General V K Singh,...
MUMBAI: The PSU consortium comprising Bharat Petroleum Corporation (BPCL), Oil and Natural Gas Corporation ( ONGC) and Gujarat State Petroleum Corporation (GSPC) is not keen to raise its bid of $800-900 million for UK-based energy major BG’s 65% stake in the Gujarat Gas Company. “We now know for a...
NEW DELHI: After a recent threat from the three state-owned oil firms — Indian Oil Corp (IOC), Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL) — over fuel supply disruptions, it is now the turn of petrol pump dealers to up the ante. Dealers have threatened to stop petrol and...
NEW DELHI: While admitting that the decision to send a special envoy to South Sudan and Sudan to broker peace between the two nations was a policy departure for India, the government said on Wednesday that this had become unavoidable not just to advance the nation’s larger strategic interests...
NEW DELHI: ONGC’s worries over setting up a refinery in Rajasthan are far from over, with the issue gaining political overtones. After its commitment in 2005, the company is now looking for ways to make an uneconomical project viable. Indications are it may nominate Mangalore Refinery and Petrochemicals Ltd...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
NEW DELHI: Following furore over an initial CAG report that estimated huge losses to the exchequer in the allotment of mines, the government has said it is ready with the list of coal blocks to be bid and the auction process will kickstart by June. “The work of identification...
NEW DELHI: Coal India won’t discontinue the lucrative business of e-auctioning of the fuel in order to be able to comply with the presidential directive to sign fuel supply agreements (FSAs) with power companies to meet 80% of the latter’s needs. Despite a suggestion made by the power ministry...
NEW DELHI: Little over a year after he snapped up London’s iconic Grosvenor House hotel, Subroto Roy is about to do a similar deal across the Atlantic. The Sahara Group is in exclusive talks to acquire The Plaza, a 105-year-old landmark property in New York whose guests have included...