Amid uncertainty over impending US sanctions against Tehran, Indian Oil Corp (IOC) has booked for import of usual monthly quantity of 0.75-0.8 million tonnes of crude oil from Iran in October but is unsure if the trade would continue thereafter, a senior official said. While India wants to continue importing Iranian oil, albeit a reduced […]
Coal India Ltd is optimistic about an aspirational production target of 652 million tonne for the fiscal year 2018-19, the mining major’s Chairman A K Jha said on Wednesday. The state-run company is also planning to rationalise costs by closing down 53 underground mines this fiscal, Jha said the sidelines of the company’s 44th AGM […]
Oil prices rose on Wednesday after a report of a decline in U.S. crude inventories and looming sanctions against Iran raised expectations of tightening supply, while top producer Russia warned of a fragile global market. U.S. West Texas Intermediate (WTI) crude futures were at $69.93 per barrel at 0646 GMT, up 68 cents, or 1 […]
Power Finance Corp chairman Rajeev Sharma on Wednesday said the company expects to close deals for eight power plants as the Supreme Court granted status quo on insolvency proceedings till mid November. He said the worst is over in terms of making provisions for stressed assets. The company is adequately covered with provisioning and good […]
Daily change in fuel prices was an “economic policy decision” of the central government and the courts must remain away from it, the Delhi High Court said Wednesday. A bench of Chief Justice Rajendra Menon and Justice V K Rao made it clear it was not inclined to interfere with the government’s decision, saying “there […]
The Afghanistan government has brought on board India’s utility major Tata Power for distribution, transmission and generation of power in the war-ravaged South-Asian country. The Afghanistan government-run power distribution firm, Da Afghanistan Bresha Sherkat (DABS), Wednesday signed a memorandum of understanding (MoU) during the second India-Afghanistan International Trade and Investment show. The four-day event, which […]
State-run Bharat Petroleum Corporation (BPCL) looks to move out its liquefied petroleum gas (LPG) facility outside the Mumbai refinery location, as part of its efforts to strengthen safety measures at its facilities. Company officials also added similar options under consideration for its remaining refineries. “Will look at moving some of the related facilities to alternate […]
An agreement was signed between the Uttar Pradesh government and private air carrier Spice Jet on Wednesday to fly on five new routes in the state, an official said. The new routes on which flights will begin after clearances from the Union Civil Aviation Ministry and the UP government are Varanasi-Kolkata, Varanasi-Bengaluru, Kanpur-Mumbai, Kanpur-Bengaluru and […]
Western Peripheral Expressway: The Western Peripheral Expressway, the project initiative which was launched more than twelve and a half years ago, is all set to become operational from this October! According to sources quoted in a TOI report, the government of Haryana is likely to open the entire stretch, which is 135 km long, connecting […]
The Income Tax Department has sold more of Cairn Energy Plc’s shares in mining major Vedanta Ltd to recover a part of the Rs 10,247 crore retrospective tax demand, the British firm said Tuesday. The Income Tax Department, which had in May and June sold a little under 2 per cent Cairn’s holding in Vedanta […]
The surge in petrol and diesel prices can give windfall gains of around Rs 22,700 crore during the current fiscal, according to a report by the Economic Research Wing of SBI, released on Tuesday.
New Delhi, Sept 11 Crude oil futures fell 0.39 per cent to Rs 4,897 per barrel on Tuesday due to profit-booking by participants at current levels despite firm global cues.