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NEW DELHI: Finance Minister Pranab Mukherjee today said the government will take “corrective decision” in consultation with all stakeholders to deal with the impact of rising crude oil prices on public finances and subsidy bill. “The important question is can a country afford to import 100-120 million tonnes of...
NEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) plans to invest over Rs 33,065 crore next fiscal in exploration and production of oil and gas, a 5 per cent increase over capital expenditure in 2011-12. ONGC will invest Rs 33,065.31 crore in 2012-13 as compared to Rs 31,316...
The energy scenario in India today presents a bleak picture, especially of fossil fuels. Coal India, the PSU behemoth, is unable to meet the current coal demand. It has enough resources deep underground but its extractable reserves do not allow for more than a marginal increase in production. Blocks...
Globally there are very few resources that can affect the world economy like the price of oil does. Currently oil is one of the most important sources of primary energy in the world, accounting for about 33% of the total. Oil availability and prices affect the global output capacity,...
Energy security depends on several variables. It goes beyond fuel sources and pricing. Infrastructure for energy transportation and storage are as important as energy access. Since India’s oil dependency is high–about 70% of energy sources—it is extremely important to ensure that the supply chain is maintained to feed the...
The 2012-13 budget proposals for the power sector clearly take a different approach. It fails to offer even a hint at fundamental reforms, but at least presents a coherent approach to tackling the rising energy costs and fuel shortages. Several proposals are made to lower the unit cost of...
NEW DELHI/DEHRA DUN: At a time when the hydropower sector has taken a beating in India, power major NTPC is planning to set up the country’s biggest hydel project in Arunchal Pradesh. Upper Siang hydel project in the northeastern state with a capacity of 9500 Mw is going to...
NEW DELHI: The budget has proposed an outlay of Rs 53,296.87 crore for seven power sector PSUs, including major power producers NTPC and NHPC, PowerGrid Corp and Damodar Valley Corp, in the next fiscal. Of the total sum, a budgetary support of Rs 350.37 crore in the form of...
MUMBAI: The private power producers are happy with the announcement of a slew of goodies for the sector in the Budget, but unanimously say that it makes only a marginal difference and a lot more needs to be done. They now want the government to take policy initiatives, regulators...
MUMBAI: Electricity costs are set to drop for many consumers after the government proposed waiving the 5% customs duty on imported coal. Power companies, though, will gain little. Under provisions in the power purchase agreements (PPAs), companies including Tata Power Co. Ltd, Reliance Power Ltd, Adani Power Ltd and...