New Delhi : CBI today told a special court that it has approached Ministry of Coal (MoC) to ascertain status of its request for sanction to prosecute a public servant, who has now retired, for his alleged role in a coal scam case allegedly involving Rajya Sabha MP Vijay Darda. The agency said that MoC […]
Month: June 2015
Core Gulf OPEC members likely to keep oil ceiling intact
Vienna : Core Gulf OPEC members and others have a consensus to keep the organisation’s oil production ceiling intact at its meeting this week, a senior Gulf OPEC delegate told Reuters on Tuesday, reinforcing a view among a growing chorus of members. “There is consensus among Gulf OPEC countries, and others, to keep the ceiling […]
Indian Oil, Hindustan Petroleum in talks with Iraqi oil firm on strategic reserves: Sources
NEW DELHI : State refiners Indian Oil Corp and Hindustan Petroleum Corp are holding talks with Iraq’s national oil company to buy 4 million barrels of Basra light crude oil for strategic petroleum reserves (SPRs), three sources said. India in March asked the state refiners to each seek two very large crude carriers (VLCCs) of […]
Oil and gas turn their backs on coal as climate deal nears
STOCKHOLM: Chemistry books say there are three fossil fuels: coal, oil and natural gas. Lately you could get the impression that coal is the only one. As a global agreement to rein in climate-warming carbon emissions draws closer, oil and gas companies are increasingly talking about coal as the problem and describing themselves as a […]
OPEC finds oil output consensus: ‘Don’t rock the boat’; to carry on pumping oil nearly flat-out
VIENNA: OPEC is set to carry on pumping oil nearly flat-out for months more, content that last year’s shock market therapy has revived moribund demand and knocked back growing competition. With oil prices having stabilised, for now, at around $65 a barrel, some $20 off their January lows, there’s little appetite within the Organization of […]
The world could run on renewables in 10 years, claims international campaign
An international campaign to tackle climate change has claimed that the world can run on renewables in 10 years if governments spend like they did to put man on the moon. The Global Apollo Programme, a brainchild of former chief scientific advisor to the UK government Sir David King and six other eminent members of […]
BP ceases production at Australian Bulwer Island refinery
SINGAPORE: BP has ceased production at its 102,000 barrels-per-day (bpd) Bulwer Island refinery in Brisbane and is preparing to convert the site into a jet fuel import terminal, a company spokeswoman told Reuters on Wednesday. The refinery shut its major units throughout May and has now completely ceased production, the spokeswoman added. “The import jetty, […]
Deficient monsoon will put more load on thermal power plants: Piyush Goyal
New Delhi : Coal and Power Minister Piyush Goyal on Wednesday said there will be more pressure on the country’s thermal power generation plants if the monsoon rains are deficient this year. “It is a matter of concern that the monsoons are expected to be below normal,” Goyal told reporters on the sidelines of an […]
Azerbaijan sees its annual oil output at 40-45 mn tonnes: Energy Minister Natig Aliyev
BAKU: Azerbaijan plans to keep its annual oil output at 40-45 million tonnes but aims to double annual natural gas production from 29 billion cubic metres (bcm) within the next few years, the country’s energy minister said on Wednesday. “Annual oil production now is 42 million tonnes. We will try to keep oil output at […]
Fate of Rs 8,500 cr Mumbai coastal road project to be decided on June 8
Mumbai : The fate of the Rs 8,500 crore coastal road project in Maharashtra will be decided on June 8 when the Centre and state government are slated to meet. The Centre is insisting that the state government enact a law which allows reclamation of the land while ensuring no real estate development. The state […]
Asian coal prices lifted by tightening markets in China, India
SINGAPORE: Asian physical coal prices edged up this week, at least temporarily halting a month-long steady fall of Australian prices as China raised its prices due to tightening supplies, while South African markets were supported by strong Indian demand. Chinese state coal firms have raised prices for the second time in a month due to […]
BP CEO sees oil price “softness” in second half of 2015
VIENNA: BP Chief Executive Bob Dudley said on Wednesday he sees “some softness” in oil prices in the second half of the year as global supplies continue to grow. “Supply growth continues to go up. We are at a balance with the supply and demand right now,” he said on the sidelines of the Organization […]