China is maneuvering Pakistan to cripple India via the $62 billion China-Pakistan Economic Corridor (CPEC) project, which it has described and projected as a transformative economic initiative, an American expert on Asian affairs has claimed. CPEC connects China restive Xinjiang province with Gwadar Port in Balochistan and traverse through the Pakistan-occupied Kashmir.
Month: December 2017
Editorial-January 2018
The Haryana government is buying hyper expensive power. A total of 303 MW from three projects of two private developers, DANS (193 MW) and Gati (110 MW) will be bought at a levelised price of Rs 4.66/unit. These are hydro power projects located in Sikkim so a lot would have to be expended in transmission […]
CIL looking to buy stakes in overseas coking coal mines
The government today said state-owned Coal India is hunting potential avenues for buying stakes in coking coal blocks overseas. In a written reply to Lok Sabha, Coal Minister Piyush Goyal said, “CIL (Coal India) is pursuing available opportunities for buying equity stakes in coking coal mines abroad.” He said though the CIL Board had last […]
Essar Oil (UK) posts USD 169 mn profit for H1 FY17
Essar Oil (UK) Ltd, which owns and operates UK’s Stanlow Refinery, today reported its highest ever half-year net profit at USD 169 million on the back of record margins and operational efficiencies. Net profit of USD 169 million (Rs 1,082.61 crore) in April-September was 231 per cent higher than USD 51 million in the same […]
Petrol pump chip scam: A password to fill up tanks at retail outlets soon
After a wake-up call from Uttar Pradesh’s petrol pump chip scam, government-owned oil marketing companies Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) are tightening end-to-end monitoring of product movement and dispensing. They now plan to introduce “e-key” facility as part of their strategy to have complete automation and real-time […]
3 Maha power utilities yet to repay Rs 66-k crore loan: Min
Maharashtra Energy Minister Chandrashekhar Bavankule told the Legislative Assembly today that all the three state-run electricity companies are yet to repay loan worth nearly Rs 66,000 crore. The minister informed this in a written reply tabled in the House, in which he also dismissed the reports that these companies are not paying additional interest as […]
Rays Future Energy executes 60MW of capacity under open access
Rays Future Energy, a subsidiary of integrated solar power company Rays Power Infra, today said it is executing 60MW of capacity under open access systems in Karnataka, to be completed by the end of the current fiscal. The company has identified over 50 highly-rated private commercial and industrial consumers to whom the energy will be […]
Bengal to construct 13,000 km of rural roads: Minister
To improve the rural economy the West Bengal government would construct 13,000 kilometre of rural roads in the state. West Bengal Panchayat and Rural Development Minister Subrata Mukherjee said the Mamata Banerjee government would spend Rs 3,100 crore as state’s share to complete the Rs 7,800 crore project to construct 13,000 km rural roads. “I […]
Oil edges up on ongoing North Sea pipeline outage, but rising U.S. output weighs
Oil markets edged up on Tuesday as the Forties pipeline outage in the North Sea and voluntary production restraint led by OPEC supported prices, although soaring output in the United States put a cap on gains. U.S. West Texas Intermediate (WTI) crude futures were at $57.33 a barrel at 0526 GMT, up 17 cents, or […]
Sell majority stake in PSUs to cut import bill: Vedanta to government
Mining mogul Anil Agarwal-led Vedanta Ltd has made a strong case for the government selling its majority stake in PSUs such as ONGC and Coal India or transferring their assets to private firms to cut import bill by at least 25 per cent. The suggestion in the form of a full-page advertisement in national dailies […]
Growth in global coal demand subdued over next five years – IEA
Global coal demand will be subdued over the next five years, growing at just 0.5 percent a year, marginally higher than current levels, due to lower consumption in China, the International Energy Agency (IEA) said on Monday. Coal consumption fell last year by 1.9 percent to 5.357 billion tonnes from a year earlier as lower […]
NTPC’s capacities dwindle after CEA deletes Patratu’s 325 MW
State-run power giant NTPC revised its installed and commercial capacities downward to 51,383 MW and 50,583 MW respectively after the Central Electricity Authority (CEA) deleted its 325 MW capacity of Patratu plant. In last May, the company had informed BSE about addition of 325 MW of Patratu Thermal Power Station of Patratu Vidyut Utpadan Nigam […]