Crude oil prices at around $60 per barrel is the “ideal” level for Air India to sustain its new-found revenue growth, the airline’s Chairman and Managing Director (CMD) Pradeep Singh Kharola said. When asked about the surge in crude oil prices and its impact on Air India’s revenue growth, Kharola told IANS: “I believe the […]
Month: January 2018
US to overtake Saudi as crude oil producer: IEA
The United States are set to overtake Saudi Arabia as the world’s number two oil producer this year, as shale companies, attracted by rising prices, ramp up drilling, the International Energy Agency said today. “This year promises to be a record-setting one for the US,” the IEA wrote in its monthly market report. Crude production […]
Sluggish rooftop solar scheme spurs government to work on new plan
Concerned over the inactivity in the country’s rooftop solar programme, the government today said only one GW rooftop solar capacity has been set up against the target of 40 GW and a new plan is in the making to end the shortcomings. Concerned over the inactivity in the country’s rooftop solar programme, the government today […]
Coastal shipping of coal to double in 6 years: Crisil Research
Crisil Research expects coastal transportation of coal to touch 63 million tonne per annum by fiscal 2022-23, from near 32 million tonnes per annum in 2016-17 as structural bottlenecks ease. Bulk of the coastal movement of coal in India happens along the eastern coast, from the mines of Mahanadi Coalfields (MCL), via the Paradip and […]
Govt to set up $350 mn fund in bid to add 175Gw in renewable energy by 2022
India will set up a $350 million fund to finance solar projects, Power Minister R. K.Singh said, as the country steps up efforts to achieve its ambitious target of adding 175 gigawatts (GW) in renewable energy by 2022. India will need at least $125 billion to fund a plan to increase the share of renewable […]
Adani Group to pump in Rs 7.5 bn in West Bengal’s Haldia oil refinery
Adani Group today said it would invest Rs 7.5 billion to double the capacity of the company’s edible oil refinery at Haldia in West Bengal. Announcing this at the second and last day of the Bengal Global Business Summit (BGBS) here, Pranav Adani of the Adani Group expressed interest to invest in port, agri and […]
Huge opportunity to export LNG to India, China: IEA chief
There is a huge opportunity for the US to export LNG to India and China in the next five years as they push to replace coal, the head of the International Energy Agency has said as he highlighted the growing importance of the two nations in the energy market. Fatih Birol, executive director for the […]
Government to auction 55 blocks for oil and gas exploration on Thursday
India will tomorrow put on auction 55 exploration blocks in the first bid round in eight years that will offer a record area for prospecting of oil and gas, the head of country’s upstream regulator said. This will be the first auction under the new Hydrocarbon Exploration and Licensing Policy (HELP) that allows companies to […]
Global power demand: Bitcoin mining consumes more electricity than Ireland
There’s a growing debate over how much power will be sucked up by the world’s growing ranks of cryptocurrency miners. Last week, Morgan Stanley analysts said miners of Bitcoin could use as much as 140 terawatt-hours of electricity in 2018. That’s nearly 1 per cent of global demand and enough to seize the limelight from […]
Have fulfilled land compensation commitment for plant: NTPC
State-run NTPC Ltd said today that it has fulfilled all its commitments for the acquisition of land for its 1,600 MW Gadarwara power project. The public sector power utility said it will continue to work towards the local area development and betterment of the affected people even after the project goes on stream. “We have […]
BHEL bags Rs 2800 crore contract
Bharat Heavy Electricals Ltd (BHEL) said it has won a Rs 2,800 crore contract from Maharashtra State Power Generation Company (Mahagenco) for setting up a 660 mw coal-based thermal power project. The project will be set up as an expansion project (Unit 6) of Mahagenco’s Bhusawal Thermal Power Station in Jalgaon district of Maharashtra, an […]
India’s imports of Iran oil in Dec scheduled to rise to most since March – source
India was scheduled to lift its biggest volume of Iranian crude in nine months in December, helping to shore up the OPEC producer’s oil exports to Asia last month, said a person with knowledge of the country’s tanker loading schedule. Asian buyers were scheduled to lift 1.92 million barrels per day (bpd) of Iranian crude […]