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NEW DELHI: Over 40,000 petrol pump dealers have decided not to go on a nation-wide strike from Monday after oil minister Jaipal Reddy agreed to accept their demands late on Friday evening, association general secretary Ajay Bansal said. “Most of the demands are being addressed by oil minister including...
NEW DELHI: Nagarjuna Oil Corp (NOCL) has signed a fuel sales deal with the country’s biggest refiner Indian Oil Corp, a move which could reduce import dependence for meeting refined products demand in the southern part of the South Asian nation. India has surplus refining capacity but its private...
CHENNAI: The Nagarjuna Oil Corporation’s refinery at Cuddalore is likely to be commissioned by early 2013. This is a delay of almost six-nine months due to the damage caused by cyclone Thane, which hit Cuddalore last year. The loss due to the cyclone was only around Rs 60 crore...
NEW DELHI: Reliance Industries will start surveying the entire D6 block after a week as it has secured all approvals to begin the process that will facilitate quick development of all untapped discoveries in the region and reverse the declining natural gas output from the deep-sea region, industry officials...
MUMBAI: Reliance Industries on Friday reported a 21 per cent fall in its net profit to Rs 4,236 crore in the quarter ending March 2012, as compared to Rs 5,376 crore in the same quarter a year earlier, even as it sprung a surprise with higher than expected gross...
The refining and petrochemicals businesses of Reliance Industries have put up a better-than-expected performance in this March quarter. Operating profits in these segments have grown marginally on a sequential quarter basis. Despite plant shutdown for some time during the quarter, improved product cracks helped the company achieve gross refining...
NEW DELHI: Cairn India, the arm here of the oil and gas multinational, on Friday reported an 11 per cent decline in net profit for the quarter ended March 31 at Rs 2,186 crore, compared to Rs 2,458 crore in the same quarter of the previous year. Quarterly income...
LUCKNOW: Already facing shortage of coal, power plants in Uttar Pradesh are also receiving hiccups due to snags that threaten to get prolonged, thereby putting power supply in a grave jeopardy. The latest case pertains to tripping of two units of 200 Mw each at Obra power plant, which...
NEW DELHI: The Supreme Court on Friday partially lifted the ban on mining in three districts of Karnataka. It was lifted for a certain category of mines, with strict conditions. The court also allowed the auction of iron ore already lying in stockyards, under the supervision of a monitoring...
KOLKATA/RAIPUR: Lanco Power has come under the scanner of green panel in Chhattisgarh as the state government has threatened to stop production in its Korba power station for allegedly violating the environment control norms. The Lanco Power has a 1920-Mw power station in Pathadi village in the name of...