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MUMBAI: State-run energy explorer Oil and Natural Gas Corporation has approved a proposal to invest Rs 600 crore for development of the Western Periphery as a part of the Mumbai High South Field, Phase III Redevelopment. The project, scheduled to be completed by December 2014, is expected to result...
CHENNAI: State-run Indian Oil Corp today said restricted availability of fuel in four southern states was “temporary” due to partial shutdown of Mangalore Refinery Petrochemicals Ltd (MRPL) and supply would resume soon. “The diesel supply problem experienced currently is temporary and is owing to partial shutdown of MRPL from...
MUMBAI: The earnings of India’s most valuable company, Reliance Industries Ltd (RIL), will likely remain weak over the next two fiscal years, but will gain momentum after that, brokerage firms’ analysts said in research reports written after meeting the company’s management. The company’s operating profit may even double from...
MUMBAI: Essar Oil Limited (EOL) has renewed a major product sale and purchase agreement with Bharat Petroleum Corporation Limited. The renewed four year agreement, running upto 2016 is for supply of diesel, petrol, kerosene and ATF (aviation turbine fuel) to BPCL from its Vadinar Refinery. It also entitles EOL...
Oil prices eased on Friday, trading at around $119.50 a barrel, due to renewed fears about the state of debt-laden eurozone economies following a downgrade of Spain’s credit rating. Traders and investors took a more cautious stance after Standard & Poor’s reduced its credit rating on Spain by two...
NEW DELHI: Tomorrow, an Empowered Group of Ministers (EGoM) is to discuss the issue of diversion, with government permission, of surplus coal by Reliance Power Ltd (R-Power), meant for its 4,000-Mw Ultra Mega Power Project (UMPP) at Sasan in Madhya Pradesh, to another project being developed by it, Chitrangi,...
NEW DELHI: NTPC has successfully completed the automation package for the Simhadri Stage-II 2 X 500 MW super thermal power project located near Visakhapatnam. It is NTPC’s first coastal-based coal-fired thermal power project. An official statement said the plant’s output was expected to reduce the power deficit significantly in...
NEW DELHI: State-run Power Finance Corp today said it has formed special purpose vehicle, Deoghar Mega Power Ltd, for developing a 4,000 MW ultra mega power project in Jharkhand. Deoghar would be the second ultra mega power project (UMPP) in the state after Tilaiya, which is being executed by...
NEW DELHI: Gets favourable opinion over legality of government decision allowing Reliance Power to divert surplus coal from captive mines After Reliance Power, the company’s arch rival, Tata Power, too, has independently secured a favourable opinion from the country’s top legal brains, including retired Chief Justice of India M...
JODHPUR: Reliance Power’s photovoltaic solar power plant in Jaisalmer district, Rajasthan, has started commercial operations to provide electricity to thousands of households and businesses in Maharashtra. Under the power purchase agreement, the entire power generated by this plant would be supplied toMaharashtra. The plant is located, 180 km in...