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MUMBAI: State-run Oil and Natural Gas Corporation (ONGC) is to shortly sell stake in its four coal-bed methane (CBM) blocks to companies which have bid for this. “We are evaluating the bids we have received. We could give out up to 30 per cent stake and look at joint...
NEW DELHI: Contrary to the belief that the auction of shares by companies is not meant for retail investors, the final participation details of the ONGC auction on March 1 has thrown up interesting data that indicates active participation by this segment. In fact, the highest bid for 30...
NEW DELHI: The last week of March saw a series of new refining capacity going on stream. HPCL-Mittal Energy, Essar Oil and Mangalore Refinery & Petrochemicals (MRPL) were able to announce completion of capacity additions a couple of days before the seven-year tax holiday in this regard came to...
NEW DELHI: State-owned oil companies are projected to lose Rs 208,000 crore on selling auto and cooking fuel at government controlled rates in 2012-13 as losses on diesel sales touched a record Rs 16.16 per litre. Indian Oil, Hindustan Petroleum and Bharat Petroleum are lose close to Rs 670...
MUMBAI/AHMEDABAD: Passing on the excise duty hike to consumers, Adani Gas Ltd. on Saturday announced a price revision in CNG by 10 per cent from April 1, 2012. As against Rs 45.50 per kg which it was charging since November 16, 2011, the company has revised CNG prices to...
SINGAPORE: Oil was higher in Asian trade today after figures showing a rise in manufacturing activity in China, the world’s largest energy user, analysts said. New York’s main contract, West Texas Intermediate crude for delivery in May, gained 33 cents to $103.35 per barrel while Brent North Sea crude...
JAKARTA: Weeks of protests across Indonesia have thwarted a government plan for an immediate fuel price hike, the latest failure of an Asian administration to wean its country off costly subsidies. Emerging nations in Asia such as Indonesia and Malaysia have struggled to keep fuel prices low as they...
NEW YORK: ExxonMobil, BP and ConocoPhillips have reached agreement with the state of Alaska to take a significant step forward on a $40bn-plus project to export liquefied natural gas to Asia, resolving a long-running lease dispute that had been holding up progress. In a joint letter, the chief executives...
MUMBAI: Amid an ongoing controversy over the Comptroller and Auditor General’s draft report on coal allocation, the Central Electricity Authority (CEA) has strongly recommended giving the coal sector “infrastructure status” with tax holiday and duty exemptions. Alternatively, the CEA has, in the draft National Electricity Plan for the 12th...
MUMBAI: The Reserve Bank of India has said the mounting losses of state power utilities (SPUs) is a growing problem for finances of state governments which have issued guarantees and agreed to foot subsidy bills. SPUs are making huge cash losses due to non-revision of rates over extended periods...
Testing times are ahead for state governments on power sector reforms as the accumulated losses of discoms become increasingly unrecoverable. Governments will have to show the political resolve to phase out expenditure like subsidy pay-out for electricity supply to the agriculture sector, which tends to strain state finances. The...
Bangladesh Power Development Board (BPDB) has formally approached the Registrar of Joint Stock Companies & Firms (RJSCF) for establishing the country’s first-ever joint venture (JV) of a state-owned power entity with a foreign firm. “We have submitted the application to RJSCF for establishment of the JV firm between BPDB...
DHURSAR: Reliance Power proposes to take its solar capacity to 300 MW by 2015, with an investment of Rs 6,000 crore. The Anil Ambani group company has set an ambitious target that will help light up over five-lakh households in the country. Mr Anil Ambani, Chairman, Reliance Power, said...
MUMBAI: Jindal Steel and Power (JSPL) has advanced the commissioning date of the first unit (600 Mw) of the first phase (1,200 Mw) of its power plant expansion at Tamnar in Chhattisgarh’s Raigarh district to March 2013, to take advantage of the 10-year tax holiday it would then enjoy....
NEW DELHI: The Union environment ministry and the Gujarat government have been asked by the National Green Tribunal to respond to the allegations that OPG Power Gujarat Pvt Ltd is violating the tribunal’s order to stop work on its 300 MW thermal power plant at Mundra in the state....
Ever since the Harvard Professor, B. F. Skinner conducted those experiments among workers of General Electric at its plant in Hawthorne back in the 40s, Behavioural Science became all of the rage in management theory. It was no surprise then that psychologists soon became hot property within the community...
Need to enhance generation capacity and thorium tech Tapping new energy sources is not a choice but is imperative, given the country’s heavy reliance on fuel imports. As the demand-supply gap in energy availability is widening India has to plan for harnessing nuclear energy on a bigger scale. The...
MUMBAI: Tata Power has commissioned the first ultra mega power project in the country. The first of the five 800 MW of the Mundra 4,000-MW power plant, based on imported coal, is operational. However, its profitability is expected to take a hit with Indonesia directing that all coal shipped...