Indian Oil Corporation plans to invest ₹5,215 crore in building 1 gw of renewable energy capacity in the country. The state-run company said in a stock exchange filing on Tuesday that its board has approved the investment plan, which would involve setting up “standalone ground-mounted solar or standalone onshore wind or wind-solar hybrid projects” in […]
Category: Newspapers
Newspapers
India’s oil import bill could swell to USD 101-104 bn in FY25: ICRA
India’s net oil import bill could widen to USD 101-104 billion in current fiscal from USD 96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil […]
IOC to invest Rs 5,215 cr to build 1GW renewable energy capacity
New Delhi: Indian Oil Corp, the nation’s top refiner and fossil fuel retailer, plans to invest Rs 5,215 crore to build 1 gigawatt (GW) of renewable energy capacity in the country. Indian Oil’s board has approved the investment plan, which would involve setting up “standalone ground-mounted solar or standalone onshore wind or wind-solar hybrid projects” […]
India buys more Russian, less Saudi oil in April
India in April imported more Russian oil but less from Iraq and Saudi Arabia than it did a month earlier, preliminary data from trade flow tracking agencies Kpler and LSEG shows. Refiners in India have been snapping up Russian oil since Moscow’s invasion of Ukraine in February 2022 prompted the West to shun it and […]
BP appoints Kartikeya Dube as India unit chief
New Delhi: BP has appointed Kartikeya Dube as its India unit chief, the energy major said in a statement on Tuesday. Dube’s appointment will be effective from July 1. He will take over from Sashi Mukundan who will retire from BP after serving the company for over 42 years.
India revises windfall tax to Rs 8,400 per tonne, effective May 1
The centre Tuesday revised Windfall tax on domestically produced crude oil to Rs 8,400 per tonne, down from Rs 9,600 per tonne. The export duty on petrol diesel and aviation turbine fuel (ATF) will continue to be nil.
Prices of commercial LPG cylinders slashed by Rs 19
Government oil marketing companies on Wednesday slashed prices of commercial LPG gas cylinders by Rs 19 with immediate effect. The retail sales price of a 19 kg commercial LPG cylinder would be now Rs 1745.50 in Delhi, reported ANI, citing sources. Last month, the price was cut by Rs 30.50 for a 19-kg commercial cylinder […]
26 companies queue up for KSK Mahanadi power project
New Delhi: JSW Energy, Jindal Power, Adani Power, Swan Energy, Vedanta, Coal India and NTPC are among 26 companies that have shown interest in acquiring debt-ridden 1,800 MW KSK Mahanadi power project. People aware of the development told ET that some funds have also shown interest in acquiring the plant, which is undergoing a fresh […]
SC dismisses L&T plea over Sharavathi tendering process
The Supreme Court on Monday rejected Infrastructure Company Larsen & Toubro’s Special Leave Petition (SLP) challenging the tendering process for the prestigious Sharavathi Pumped Storage project. “We are not inclined to entertain the Special Leave Petition under Article 136 of the Constitution of India,” the top court said.
Sterlite Power bags projects worth Rs 2,500 crore in Q4
Sterlite Power on Tuesday announced securing new orders worth Rs 2,500 crore during the quarter ended March 31. This takes the company’s cumulative order wins in FY24 to Rs 7,000 crore, up 35 per cent year-on-year (YoY) over FY23, Sterlite Power said in a statement. “Sterlite Power has capped off a successful fiscal year FY24 […]
BHEL partners HIMA West Asia FZE, Dubai for railway signalling business
State-owned engineering firm Bharat Heavy Electricals (BHEL) on Tuesday announced that it has entered into a strategic partnership agreement with HIMA West Asia FZE, Dubai for railway signalling business. HIMA is the world’s leading solution provider for safety-related automation in the railways and process industries, a regulatory filing said. According to the filing, the BHEL […]
Commercial LPG cylinder price reduced by Rs 19; Here are the revised rates
Oil marketing companies cut prices of commercial LPG gas cylinders by Rs 19 with immediate effect from May 1. With this, Delhi retail sales price of 19 kg commercial LPG cylinder stood at Rs 1,745.50. This follows similar reductions in other metro cities across India. State-backed oil marketing companies (OMCs) slashed the prices of commercial […]