Daily Archives: May 2, 2018

Govt to upgrade infrastructure at 3 airports for Rs 5,082 cr

The government today approved expansion and upgradation of infrastructure at Chennai, Guwahati and Lucknow airports at a total cost of Rs 5,082 crore. The Cabinet Committee on Economic Affairs (CCEA) has cleared expansion and upgradation of integrated terminal at Chennai airport which is estimated to cost Rs 2,467 crore. The expansion and upgradation of integrated

Oil rises on Iran concerns, U.S. output growth caps gains

Oil recovered some ground on Wednesday after the previous day’s slide, helped by concerns about possible renewed U.S. sanctions on major exporter Iran although price gains were capped by rising U.S. supply. Brent crude oil futures were up 31 cents at $73.44 a barrel by 0900 GMT, after falling nearly 3 percent on Tuesday to

ONGC bids for 37 oil blocks, Cairn 55 in 1st OALP round

State-owned ONGC today bid for 37 oil and gas blocks while Cairn India put in bids for all the 55 areas on offer in India’s maiden auction of oil and gas acreage under the newly formulated open acreage licensing policy. As many as 110 bids had been received, the Directorate General of Hydrocarbon (DGH) tweeted.

Schneider deal done, L&T says no more non-core divestment on the cards

For engineering conglomerate Larsen & Toubro (L&T), the deal signed on Tuesday with Schneider may mark the end of non-core divestments for some time, according to company officials. However, analysts remain hopeful that there is scope for more. “At some point of time, if some asset gets matured and does not fit into the core,

Enhanced recovery: Oil companies to be offered sops

With a view to ramp up production from ageing hydrocarbon fields in the country, the ministry of petroleum and natural gas has drafted a Cabinet note for inter-ministerial consultation, outlining financial incentives and eligibility criteria for contractors opting for enhanced recovery (ER) methods. According to sources, the government expects the overall net impact of the

Flight delayed due to late passengers? Singapore airport may use facial recognition to locate late travelers

Ever been delayed on a flight because of straggling fellow passengers? That might be an annoyance of the past at Singapore’s Changi airport which is testing facial recognition systems that could, in future, help locate lost travelers or those spending a little too much time in the duty-free shops. Changi Airport, ranked the world’s best