MENU 
NEW DELHI: The government has included the natural gas marketing margin charged by Reliance Industries in the fertiliser subsidy for the 2011-12 and 2012-13 financial years to save fertiliser companies from having to pay about $30 million a year from their pocket towards the disputed levy. Fertiliser companies like...
MUMBAI/VADODARA: Following geopolitical disputes in North and South Sudan, ONGC Videsh Ltd. (OVL), the overseas investment arm of state-run Oil and Natural Gas Corporation Ltd. (ONGC) has discontinued crude oil production from the latter territory. “The dispute between North and South Sudan has been a bone of contention for...
VADODARA: ONGC CMD Sudhir Vasudeva today said the state-run oil and gas behemoth was aiming at converting some of the deep water discoveries to production by 2016-17. “ONGC owns 56 deep water blocks, allocated to it under the New Exploration Licensing Policy regimes between 1997 and October 2010. There...
NEW DELHI: The increase in cess by Rs 2,000 a tonne on domestically produced crude oil could make Vedanta Group’s $9-billion investment uneconomical. Cairn India, in which Vedanta has recently acquired majority stake, termed the move as ‘unfair and discriminatory’. Seeking a rollback, Cairn India has approached the Prime...
BEIJING: China Petroleum and Chemical Corp (Sinopec Corp) will soon close a 200,000 barrels-per-day (bpd) crude oil unit at its largest refinery, Zhenhai, for a four-week turnaround, after completing repairs of a 160,000-bpd crude unit, sources said on Friday. Sinopec, Asia’s largest refiner, shut down the 160,000-bpd crude unit...
WASHINGTON:Iran’s two major oil buyer —India and China— now appear to be seeking to take advantage of the international sanctions against the Islamic republic by forcing concessions from Tehran, a latest Congressional report has claimed. “India has used the payments difficulties to force concessions from Iran, including an Iranian...
WASHINGTON: The Obama administration’s man in charge of squeezing Tehran over its nuclear program is unapologetic for the difficulties faced by banks in their dealings with Iran since the US tightened sanctions against the country. Companies that trade with Iran are struggling to get paid and the biggest Asian...
NEW DELHI: The Power Ministry has set a target of generating 9,20,000 million units of electricity this year, of which over 1,50,000 million units would come from the private sector alone, says a Central Electricity Authority report. Even as the sector grapples with acute fuel shortages, the power sector...
NAGPUR: Soon after Bharat Dynamics Limited (BDL) announced its defence hardware unit at Amravati, engineering PSU Bharat Heavy Electricals Limited (BHEL) has also spoken of plans to acquire 300 acres in Bhandara district for a new plant. BHEL is one of biggest power plant equipment suppliers in the country....
HYDERABAD: BHEL RC Puram has recorded a net profit of Rs 1,838 core and revenue of Rs 7,072 crore for the financial year ended March 31, 2012. The unit has achieved a year-on-year growth of 13 per cent in revenues (Rs 6,653 crore) and 38 per cent in profits...
JOHANNESBURG: Exploration company, Firestone Energy, has rejected a bid by Tata Power for a 30 per cent stake in a coal project in South Africa, citing a huge undervaluation of the project, a report has said. Tata had offered R480 million for the stake in the Limpopo venture, which...
NEW DELHI: India plans to add 5,300 MW nuclear power capacity during the 12th Plan period, taking the total contribution of atomic power to 9980 MW to the country’s energy basket. This planned capacity addition includes power from two 1,000 MW units at Kudankulam being built by the Nuclear...
KOLKATA: The coal ministry is not in favour of divesting 10% stake in Coal India’s subsidiaries, as proposed by the divestment department, as it will only infuse more funds into the cash-rich coal giant, a senior ministry official told ET. “We are not in favour of this divestment proposal....
NEW DELHI: The growing demand of coal in the domestic market is likely to push up its international prices. Coal industry experts feel that the prices may go up significantly in near future, driven mainly by the demand in China and India. Coal prices in the international market have...
NEW DELHI: In a bid to meet the obligations of supplying a minimum assured quantity of coal to power producers under the Presidential directive, Coal India (CIL) may resort to imports, its Chairman and Managing Director designate S Narsing Rao today said. “We have to see how much we...
Allaying apprehensions of the investors’ community, the new CMD-designate of the world’s largest coal firm, Coal India, S Narsing Rao says the coal miner will pass through cost of imported coal to its consumers in a bid to protect its financial health and investors’ interests. Apart from immediately looking...
NEW DELHI: Power consumers, brace for a hot summer. Notwithstanding Tuesday’s Presidential directive to Coal India to ensure coal supply to power producers, short-term relief is unlikely for domestic and industrial consumers of power, reeling under shortages that are expected to spiral as temperatures soar. “The directive to CIL...
Pune: Loss-making Wind turbine maker Suzlon Energy is considering a stake sale in its wholly-owned subsidiary REpower Systems SE, reports say. Repower is based in Hamburg, Germany, and manufactures onshore and offshore wind turbines with installation of around 3,600 wind turbines around the world. Suzlon had acquired Repower at...