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MUMBAI/NEWDELHI: Gujarat State Petroleum Corporation (GSPC) plans to commission liquefied natural gas terminal with a capacity of 5 million tonne per annum at Mundra by 2015-16, a top state government official said on Monday. “Some preliminary work for the project has started, site has been identified. It is planned...
The cess on crude oil has been raised from R2,575 per tonne ($6.9/bbl) to R4,635 per tonne ($12.4/bbl) in the Budget. It means a cut in ONGC’s FY13-14 EPS by 11%. We have also cut ONGC’s purchasing order (PO) by 17% to R298 a share from R358 a share...
Oil marketing companies will get additional subsidy of Rs 15,000 crore for 2011-12 while the fertiliser sector will receive an additional subsidy of over Rs 7,200 crore. These amounts have been provided in the third set of supplementary demands for grants tabled in Parliament on Monday. The Government has...
MUMBAI: Gas production from Reliance Industries’ Krishna-Godavari D6 exploration blocks off the Andhra Pradesh coast hit an all-time low of about 28 million standard cubic metres a day during the week ended March 4 as it shut six wells due to water and sand ingress. India’s most valuable company,...
Opec nations are plowing cash into US treasuries at a more than 50% faster rate than all other foreign investors, an unintended benefit of oil prices above $100 a barrel. Organisation of Petroleum Exporting Country members increased their net purchases of government debt by $43.3 billion, or 20%, in...
BEIJING: China may raise gasoline and diesel retail prices from Tuesday, consultancy C1 Energy said in a report on its website. The Pricing Department under the National Development and Reform Commission will hold a meeting on Monday afternoon, which by convention might herald a fuel price change, according to...
SINGAPORE: Brent crude oil traded above $125 on Monday as tension over Iran’s nuclear programme supported prices, offsetting an increase in oil exports from Libya and a rise in production by Saudi Arabia. The threat of military action against Iran, the world’s fifth largest oil exporter, has unnerved energy...
NEW DELHI: The Power Ministry is likely to move its proposal to levy 19% duty on imported electricity equipment for large projects to the Cabinet. Earlier, the ministry had withdrawn a proposal in this regard. “We may not make any changes in the proposal and send it to the...
As many as 18 power plants in the country are faced with critical level of coal shortage, Minister of State for Power K C Venugopal informed the Rajya Sabha today. Of the 89 thermal power projects being monitored, 34 had fuel (coal) stock less than seven days and 25...
MUMBAI: Tata Power on Monday synchronised the second unit of its Maithon power project in Jharkhand. With this 525 megawatt (Mw) unit, the company has a total power generation capacity of 5,297 Mw, making it the country’s largest private sector power generating firm. The Maithon project’s first unit was...