India’s gas sector is crying out for an appetite for gas consumption by upstream and downstream industries and creation of a market where the benign and efficient fuel plays a peaking role and the tariff set by the regulator is in sync with market reality. This was stated by Mr. B. C. Tripathi, CMD, GAIL […]
Month: October 2017
Excise duty cut on fuel is a drop in the ocean: Sena
The government’s move to cut excise duty on petrol and diesel by Rs 2 per litre is like a drop in the ocean as it comes after months of rising fuel prices, the Shiv Sena today said. The Sena used a popular idiom — “oont ke muh me jeera” (a small cumin seed in a […]
Oil steady as talk of new OPEC deal balances US exports
Oil prices steadied on Thursday on expectations that Saudi Arabia and Russia would extend production cuts, although record U.S. exports and the return of supply from a Libyan oilfield dragged on the market. “Oil news is contradictory,” said Carsten Fritsch, analyst at Commerzbank in Frankfurt. “OPEC and Russia are talking about extending production limits, but […]
BHEL pays 79% dividend for 2016-17, highest in 3 years
State-owned power equipment maker Bharat Heavy Electricals Ltd (BHEL) has paid a final equity dividend of 39 per cent for 2016-17. With this, the total dividend paid during the year stands at 79 per cent, including an interim one of 40 per cent paid earlier, BHEL said in a statement on Wednesday. The figure is […]
Excise duty cut on petrol, diesel adds to fiscal concerns: Nomura
Government’s decision to cut excise duty on petrol and diesel will be a relief for consumers as it will lower CPI inflation by around 8-9 bps, but will add to fiscal concerns of the economy, says a Nomura report. According to the global financial services major, this decision further adds to the risk that the […]
India to renegotiate LNG rate with US, Russia
After getting Qatar and Australia to lower gas price, India is seeking to renegotiate rate of LNG it has contracted from the US and Russia to reflect current market realities, GAIL Chairman and MD B C Tripathi said today. “We have successfully renegotiated, along with Petronet LNG Ltd, two long-term (LNG import) contracts. We are […]
‘India’s renewables to double by 2022, overtake EU expansion’
India’s renewable energy capacity will more than double by 2022, which would be enough to overtake renewable expansion in the European Union for the first time, International Energy Agency (IEA) said in a report. The country’s renewable energy installed capacity is 58.30 GW as per the recent government data. The government has an ambitious target […]
Coal India announces provisional production and offtake performance
For month of September 2017 Coal India announced Provisional Production and Offtake Performance of the CIL and its subsidiary companies for the month of September 2017 and for April 2017- September 2017. The Company achieved 101% of the targeted coal production at 38.77 million tonnes in September 2017. For the period April- September 2017, actual […]
Sustained energy demand recovery is still absent, says ICRA
A sustained energy demand recovery is still absent and the stressed thermal assets are sizeable at about 60 GW, credit rating firm ICRA said today. The recent uptrend in the electricity demand growth has led to a marginal improvement in the all India thermal PLF (plant load factor or capacity utilisation) to 59.9 per cent […]
In a first, Reliance Industries buys 1 mn barrels of crude oil from the US
Reliance Industries Ltd , owner of the world’s biggest refining complex, has bought its first ever crude oil cargoes from the United States, drawn by the oil’s economics after the price spread between U.S. crude futures and Brent futures widened, three trade sources said on Tuesday. Reliance bought 1 million barrels each of West Texas […]
Cheap fuel: After new highs, experts see petrol, diesel prices falling soon
Diesel prices in Delhi on Tuesday scaled a new all-time high of Rs 59.14 per litre, while other cities too saw a considerable increase. However, industry experts and the government believe that prices will ease in the next few weeks as international prices are showing a declining trend. In Delhi, the price of petrol, too, […]
Soon, desi airlines can also operate foreign-registered aircraft
Allaying international lessor concerns that repossessing their aircraft from Indian carriers is an uphill task if the latter hit bad times like Kingfisher, the government is soon going to allow desi airlines to operate foreign registered aircraft. At present, airlines in India are required to get an Indian registration when the lease (rent) aircraft from […]