Hydropower projects of 13,363 MW capacity are stranded at various stages of development and reported a cost overrun of Rs 52,697 crore, says a study by Assocham-PwC titled “Accelerating hydropower development in India for sustainable energy security.” The report has suggested measures for improving investment in hydropower sector.
On July 3, 2017, a two judge division bench of the Delhi High Court dismissed budget carrier SpiceJet and its co-founder Ajay Singh’s appeals against an earlier single-judge order asking them to pay Rs 579 crore to Sun Group chief Kalanithi Maran and his KAL Airways as interim relief in a share transfer dispute. The […]
An Indian consortium led by ONGC Videsh Ltd (OVL) is willing to spend as much as $11 bn to develop a giant Iranian natural gas field and build the infrastructure to export the fuel as long as the Persian Gulf nation guarantees a “reasonable return” on the project.
On June 28, 2017, the government gave in-principle approval for disinvesting stake in Air India. The government has set up a group of ministers (GoM), headed by union finance minister Arun Jaitley, which will work out the details. Some of the issues that the GoM will deliberate upon are extent of sale, how to tackle […]
An anti-Uday track has emerged in the power sector. Three power gencos, Tata Power, Adani Power and Essar Power have mounted a sustained pressure for a 51 per cent buyout of their troubled coal assets by Gujarat Urja Vikas Nigam Ltd (GUVL), the apex body of the four discoms in Gujarat for a token amout […]
Opposition parties on Tuesday attacked the government over its decision to gradually do away with the LPG subsidy, calling it “cruel” and demanding that the proposal be withdrawn. K C Venugopal (Cong) raised the issue during the Zero Hour, saying it will adversely affect the common man and there was no justification of it when […]
State-owned ONGC has, for the last 12 years, not been able to proceed with its gas exploration work in a vital reserve in Tripura due to lack of environmental clearance, causing a huge revenue loss. “Since 2005, we had to stop gas exploration works in Tichna as the area falls under the Tichna (Trishna) Bison […]
BP expects global oil prices to hold within a range of $45-$50 a barrel next year as U.S. shale production grows, the British company’s chief financial officer said on Tuesday. After a slow start to the year, global oil demand recovered in the second quarter of 2017 and was expected to grow by 1.4 to […]
Goa Chief Minister Manohar Parrikar today assured the state legislative assembly that bona fide Goans would be given preference in employment at the proposed international airport at Mopa in North Goa district. Parrikar, however, also made it clear that for the top and crucial posts, merit would be the primary criterion for the selection of […]
U.S. oil opened above $50 per barrel for the first time since late May on Tuesday, supported by strong fuel demand, but ongoing high supplies from producer club OPEC kept prices from rising further. U.S. West Texas Intermediate (WTI) crude futures were at $50.26 per barrel at 0532 GMT, up 9 cents, or 0.2 percent, […]
With state elections less than a year away, the 65-km peripheral ring road (PRR) project may see some momentum. The Bangalore Development Authority (BDA) is planning to give some shape to the special purpose vehicle (SPV) created to implement the project, where the BDA and the Karnataka Urban Infrastructure Development & Finance Corporation (KUIDFC) have […]
No-frills carrier AirAsia India today said it has added one more Airbus A320 plane in its fleet, taking the total number of aircraft to 12, and also announced the launch of services on Jaipur-Hyderabad route from next month. The airline has also added an additional flight on Bengaluru-Bhubaneshwar and Kolkata-Bhubaneshwar routes, a release today said. […]
