Daily Archives: January 9, 2019

CERC’s final amendment to interstate open access power regulations

The Central Electricity Regulatory Commission (CERC) has finalized the amended regulations for open access in interstate transmission, which were initially passed in 2008. The new regulations will be in effect from the day of publishing in the official gazette. The CERC had proposed the amendments in August 2018. In response to the proposed changes, the

Government may widen subsidy net to cover all cooking fuels

Government may widen its subsidy net to cover all cooking fuels including piped natural gas and bio-gas along with the existing subsidy on LPG and kerosene. Niti Aayog’s proposal for a comprehensive ‘cooking subsidy’ is being deliberated at the top level and could form part of government’s election manifesto with general elections juts months away.

Govt eyes about $1 bn from Air India sale

The government is eyeing around USD 1 billion (about Rs 7,000 crore) from the sale of national carrier Air India in the next financial year, a government official said. The government will initiate the process of strategic disinvestment of Air India in the second half of 2019-20 and in between it would work towards selling

HPCL, Mangalore Refinery merger may not happen this fiscal year

The merger of two Oil and Natural Gas Corporation (ONGC) subsidiaries — Mangalore Refineries and Petrochemicals (MRPL) and Hindustan Petroleum Corporation (HPCL) — is unlikely to happen in FY19. A source close to the development said, “At this pace, the deal is unlikely to happen in FY19. Neither the MRPL board has taken up the

Indian refiners pay for Iranian oil in rupees: UCO Bank executive

India has begun paying Iran for oil in rupees, a senior bank official said on Tuesday, the first such payments since the United States imposed new sanctions against Tehran in November. Washington gave a six-month waiver to eight countries, including India, allowing them to import some Iranian oil. India, the world’s third biggest oil importer,

Government to come out with sops for nomination-era oil and gas fields soon

To raise the production of hydrocarbons, the government is planning to provide fiscal incentives for fields from the nomination era. Difficult fields from the nomination era will be given additional incentives. “The current financial model is not viable for companies operating fields under the nomination era,” said petroleum minister Dharmendra Pradhan while speaking to reporters

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