Oil and Natural Gas Corp’s (ONGC) highest ever pre-tax quarterly profit (EBITDA) provides cash flow to the state-owned firm to reduce borrowings, Moody’s Investors Service said on Monday. For the April-June quarter of the current fiscal, ONGC reported 47.2 per cent increase in EBITDA or operating profit to Rs 142.4 billion. “The increase in EBITDA […]
Day: August 6, 2018
Bengaluru airport handles 33% more pax in Q1 at over 8 million
The Bengaluru international airport has clocked around 33 per cent growth in passenger traffic in the June quarter at over eight million, the airport operator said today. In the June 2017 quarter, the Kempegowda International Airport (KIA), the busiest in the south and the third busiest in the country, had handled 6.04 million passengers. In […]
Govt sets up task force to prepare roadmap for aircraft building in India
The government has set up two task force to prepare roadmap for manufacturing aircraft and unmanned aerial vehicles in India, Commerce and Industry Minister Suresh Prabhu said on Monday. Prabhu said in Lok Sabha that aviation has become a fast-growing sector in the country with the addition of new passengers everyday, which may lead to […]
Indraprastha Gas receives LoI for development of city gas distribution network in 3 districts
From Petroleum and Natural Gas Regulatory Board. Indraprastha Gas (IGL) has received letter of intent dated 04 August 2018 from Petroleum and Natural Gas Regulatory Board (PNGRB) for grant of authorization to the Company for development of City Gas Distribution Network in the Geographical Area of Meerut (Except areas already authorized), Muzaffarnagar & Shamli Districts.
DGCA suspends licence of 2 Jet Airways pilots for Riyadh runway excursion
The Directorate General of Civil Aviation has suspended the flying licence of two Jet Airways pilots for attempting to take off an aircraft from a taxiway parallel to the runway at Riyadh airport in Saudi Arabia last week. As many as 148 people on board the Mumbai-bound Jet Airways flight escaped unhurt after the aircraft […]
L&T construction arm bags orders worth Rs 1,296 crore
Larsen & Toubro (L&T) today said its construction arm has won orders worth Rs 1,296 crore across business segments in the domestic market. L&T said its metallurgical and material handling business has received orders worth Rs 808 crore. The company’s water and effluent treatment business also bagged an order worth Rs 488 crore. “Water and […]
Oil gains after monthly Saudi output shows surprise drop
Oil rose on Monday after Saudi crude production registered an unexpected decline in July and U.S. drilling appeared to slow, although the price is still almost 10 percent below its 2018 high of more than $80 a barrel. Markets also anticipated an announcement from Washington later on Monday on renewed U.S. sanctions against major oil […]
Taiwan’s $6.6 bn petrochem plan hits IOCL’s feedstock constraints
A massive investment plan of $6.6 billion (or Rs 430 billion) by Taiwan’s state-owned petroleum & natural gas company, CPC Corporation, in the country’s eastern coast at Paradip has bumped into a hurdle at the stage of project conception. Paradip has emerged as a suitable location for CPC Corporation’s greenfield cracker plant and downstream petrochemical […]