India should rein in its lofty coal output target as power demand is growing at a slower pace than expected, a government policy think-tank said, even as state monopoly Coal India Ltd (CIL) struggles to sell already-mined coal. A turnaround in India’s coal sector, from crippling shortages three years ago to a surplus thanks to […]
Day: June 28, 2017
Oil slips further below $47 as U.S. inventory report revives glut worries
Oil traded further below $47 a barrel on Wednesday after an industry report said U.S. inventories increased, reviving concerns that a three-year supply glut is far from over. The American Petroleum Institute (API) said on Tuesday U.S. crude inventories rose by 851,000 barrels, while analysts expected a decline. Inventories of gasoline and distillates also increased, […]
Nasa develops supersonic jet that can travel safely over land
Nasa has achieved a significant milestone in developing a quieter supersonic passenger jet that can safely travel over land. The US space agency completed the preliminary design review (PDR) of its Quiet Supersonic Transport (QueSST) aircraft design. QueSST is the initial design stage of NASA’s planned Low Boom Flight Demonstration (LBFD) experimental aeroplane, otherwise known […]
US Vice-President Pence wants to visit SpiceJet office, says CEO Ajay Singh
US vice-president Mike Pence has expressed his desire to visit budget carrier SpiceJet’s office on his trip to India in a meeting with the airline’s chief Ajay Singh. The Indian no-frills airline was lauded by US President Donald Trump for an order of 100 new planes with American aircraft manufacturer Boeing and the massive jobs […]
Japan regulator ends LNG resale restrictions
Japan’s anti-monopoly regulator ruled on Wednesday that all new contracts for liquefied natural gas (LNG) should not contain restrictions on reselling cargoes of the fuel, adding momentum to a push to liberalise the LNG market. The decision, which was in line with growing market practice, is likely to lead to more trading of LNG cargoes […]