Infra major NCC Ltd expects to start development and operation of Talaipalli coal block from 2019-20 onwards and contribute about Rs 190 crore to topline during the first year of its commercial operation. The company is also betting big on infrastructure and housing projects from Amaravati, the new capital of Andhra Pradesh which is under […]
Day: December 11, 2017
Oil prices stable as ongoing Opec cuts countered by rising US rig drilling
Oil markets were stable on Monday as ongoing output cuts led by Opec were countered by rising US drilling activity that points to a further increase in American production. US West Texas Intermediate (WTI) crude futures were at $57.32 a barrel at 0749 GMT, down 4 cents from their last settlement. Brent crude futures, the […]
India’s fuel demand rises 6.2% in November
India’s fuel demand rose 6.2 percent in November compared with the same month last year. Consumption of fuel, a proxy for oil demand, totalled 17.41 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Sales of gasoline, or petrol, were 4.8 percent higher from a year earlier at […]
India favours petcoke import ban, US would be biggest loser
India’s government is in favour of banning imports of petroleum coke on environmental grounds, according to a government affidavit filed with the country’s top court, which could be a big blow to U.S. refiners who export heavily to the country. The Supreme Court, which in October banned the use of petroleum coke in and around […]
GAIL to import 5 MT LNG from US in FY’19
GAIL India Ltd will import about 5 million tonnes (MT) of LNG from the US next fiscal, replacing the volumes the state-owned utility buys from the spot market, a senior company official said. GAIL has contracted 5.8 MT per annum of liquefied natural gas (LNG) from the US, some of which it has swapped – […]