Four workmen unions of Coal India finally settled for a 20% hike in salaries along with a 4% rise in dearness allowance on Tuesday. An agreement to this effect has been signed by the unions and the Coal India management on Tuesday. The hike is salaries is expected to result in an additional outgo that […]
Day: October 10, 2017
CIL steps ups efforts to meet power plants’ coal demand as supply dwindles
In order to address the power sector’s complaints of coal shortage, state-owned behemoth Coal India is stepping up its efforts to meet the demand. “Coal India Limited posted robust 10 per cent growth in coal production, 21 per cent in off-take to power sector, and 19 per cent in rake loading during the month of […]
IOC buys two new types of US crude grades for December delivery: Sources
Indian Oil Corp, the country’s largest refiner, has bought two new types of US crude for December delivery as it tests different grades from the United States, trade sources said on Tuesday. IOC bought 1 million barrels each of US Southern Green Canyon (SGC) and WTI Midland crude likely from a Chinese trader, the people […]
OPEC Secretary General urges U.S. shale oil producers to help cap global supply
OPEC’s Secretary General Mohammed Barkindo on Tuesday called on U.S. shale oil producers to help curtail global oil supply, warning extraordinary measures might be needed next year to sustain the rebalanced market in the medium to long term. “We urge our friends, in the shale basins of North America to take this shared responsibility with […]
Moody’s assigns Ba1 rating to GMR’s Hyderabad Airport
Moody’s Investors Service has assigned a first-time corporate family rating of Ba1 to GMR Hyderabad International Airport Limited (GHIAL) and the outlook for the rating is stable. GHIAL has a long-term concession to operate Hyderabad airport, which is one of the leading airports in India. “The Ba1 corporate family rating primarily reflects GHIAL’s strong market […]
Reliance Infra, Adani Transmission in talks for integrated Mumbai power biz
Reliance Infrastructure has entered into a period of exclusivity with Adani Transmission for proposed sale of its integrated business of generation, transmission and distribution of power for Mumbai. In a regulatory filing on Tuesday, Reliance Infrastructure said, “It has entered into a period of exclusivity until January 15, 2018, in relation to discussions for the […]
IndiGo says shifting partial operations to IGI Terminal 2 ‘unworkable’
Budget passenger carrier IndiGo has termed the proposal of Delhi International Airport Limited (DIAL), the operator of IGIA here, to shift part of several airlines’ operations from Terminal 1D, as “unworkable”. The airport operator had proposed to shift part of IndiGo, GoAir and SpiceJet’s operations to Terminal 2 (T2) from Terminal 1D (T1D) which will […]
64 years after Air India’s nationalisation, Tata Group wants to fly its bird back home
The Tata Group, which founded Air India 85 years ago and was then forced to relinquish control, is interested in bidding for the airline put up for sale by the government. If it acquires Air India, it will be 64 years after its nationalisation. The history will come full circle with the move, underlining not […]
Tripura toughest for gas exploration with best success ratio: Top ONGC official
Despite Tripura being the toughest zone for gas exploration in the world, the success ratio here is the best, a top ONGC official said. The Oil and Natural Gas Corporation has drilled 225 wells in Tripura so far, of which 116 were found to be gas-bearing. “Due to high pressure of gas and unusual formation […]