After a gap of over three- decades, state-owned Oil and Natural Gas Corp (ONGC) is set to open a new sedimentary basin in the country as it puts Kutch offshore on the oil and gas map of India. Kutch would be India’s eighth sedimentary basin. ONGC had previously opened for commercial production six out of […]
Day: January 10, 2018
Oil prices hit highest since 2014, but analysts warn of overheated mkt
Oil prices hit their highest levels since 2014 on Wednesday due to ongoing production cuts led by OPEC as well as healthy demand, although analysts cautioned that markets may be overheating. A broad global market rally, including stocks, has also been fuelling investment into crude oil futures. Brent crude futures were at $69.15 a barrel […]
K Sivakumar resigns from BPCL
K Sivakumar has resigned from the position of Director (Finance) at Bharat Petroleum Corp (BPCL) in just about seven months into the term. Sivakumar took over as the finance chief in May and had about two years left in his retirement but chose to resign on health grounds, according to multiple people familiar with the […]
J&K has hydro power potential of 16,475 MW: J-K govt
Jammu and Kashmir has a potential to produce 16,475 MW of hydro power as per the assessment made by Central Electricity Authority (CEA), Deputy Chief Minister Nirmal Singh told Legislative Council here today. In a written reply to the question of BJP MLC Vikram Randhawa in the Council, Singh said out of total, 11,283 MW […]
Cabinet approves 49% foreign investment in Air India under approval route
The Union Cabinet today approved changes in Foreign Direct Investment (FDI) norms to allow foreign carriers to own 49 per cent in Air India under approval route, a change that will allow foreign carriers to bid for the national carrier but with an Indian partner. The earlier FDI policy allowed foreign carriers to own 49 […]
13 km elevated lane to bypass Ring Roads gets Delhi government nod
The Public Works Department (PWD) plans to build a 13-km elevated corridor along the Yamuna — between Signature Bridge near North Delhi’s Wazirabad and Kalindi Kunj bypass in the south — in an attempt to decongest Ring Road and Outer Ring Road. The Aam Aadmi Party (AAP) government has given it the go-ahead after studying […]