Daily Archives: April 12, 2018

Essar Oil still owes about EUR 500 mn in payments to Iran

Essar Oil still owes about 500 million euros in payments for previous purchases of Iranian crude after having paid about 2 billion euros in outstanding dues, Chief Executive B. Anand said on Thursday. The outstanding payments stem from delays in paying for Iranian oil when the country was under international sanctions over its nuclear programme.

Early signs of execution snags hit Nitin Gadkari’s road ministry

The National Highways Authority of India (NHAI)’s project awarding activity touched a new high in the last financial year. While the awarding activity looks impressive, the ministry may be struggling with fresh reports of delays. In its data shared with the Lok Sabha in March, the road ministry said 107 of its road projects are

GAIL says LNG supply from Gazprom will start from May

India’s state-owned gas supplier and developer GAIL Ltd plans to buy 0.5 million tonnes or eight cargoes of liquefied natural gas (LNG) from Russia’s Gazprom in 2018/19, its chairman and managing director B.C. Tripathi said. “The cargoes will start coming from May,” Tripathi told Reuters on Thursday at the International Energy Forum. GAIL renegotiated the

India renews call for reasonable oil prices

India on Thursday reiterated its call for reasonable global oil pricing and invited investment in its hydrocarbons sector in line with the country’s drive to attaining energy security. Noting that as the third largest energy consuming country India imports most of its oil and gas needs, Petroleum Minister Dharmendra Pradhan made the call for “responsible