State-owned Oil and Natural Gas Corp (ONGC) has said that producing natural gas is no longer a profitable business for the company as the government-mandated gas price is significantly below the cost of production. The BJP-led government had in October 2014 evolved a new pricing formula using rates prevalent in gas surplus nations like the […]
Day: May 27, 2017
Adani has to pay royalties for coal mine: Australia state premier
Adani Enterprises will get no exemption or discounted rates on royalties it has to pay to develop its Carmichael coal mine project in Australia, Queensland state Premier Annastacia Palaszczuk said on Saturday. Ministers from the centre-left state government made the decision on Friday, putting an end to speculation that the Indian company would be offered […]
Airbus helicopters starts construction of assembly line in China
Airbus Helicopters, the world’s largest supplier of commercial helicopters, has started building an assembly line in China in what Europe’s largest aerospace group said was a key step in its plans to tap into the Chinese market. The company’s final assembly line will be located in Qingdao, eastern China, with construction expected to be completed […]