State-run NLC India Ltd today said it has passed on the benefit of lower power tariff amounting to about Rs 683 crore to distribution firms following reduction in transfer price of lignite. NLC said it has been able to reduce Lignite Transfer Price for captive use by around Rs 300/tonne leading to lowering of power […]
Month: June 2018
Greenko raises $450 mn, to set up 11 Gw integrated renewable projects
Hyderabad-based Greenko Group has raised $450 million for investing in its new business model — setting up integrated round-the-clock renewable energy projects. Company sources said it will set up close to 11 Gw of hydro along with solar or wind and storage facility. GIC, which already has 60 per cent stake in the company along […]
ICRA pegs wind energy capacity addition at 3-3.5 GW in FY’19
Wind energy capacity addition is estimated at about 3-3.5 GW in FY2019 and the viability of bid tariffs and inter-state connectivity will be key headwinds for developers, ratings agency ICRA said today. The project awards so far are expected to improve the capacity addition in the wind power segment to about 3 to 3.5 GW […]
Vadodara airport seeks nod to operate round-the-clock
The Vadodara airport authorities have sought permission from the Airports Authority of India (AAI) for operating the facility round-the-clock. At present, the airport, located in the city’s Harni area, operates from 6 am to 9.45 pm. It operates around 22 commercial flights per day. In addition, private airline Jet Airways is also set to launch […]
Air India sexual harassment: Maneka tells airline to complete probe by June
Union Minister Maneka Gandhi on Monday directed the head of the Internal Complaints Committee of Air India to complete within June the inquiry into a complaint of sexual harassment lodged by an air hostess of the national carrier against its senior executive. The move comes after the air hostess met the Union Women and Child […]
Petrol, diesel prices cut for 4th straight day
Oil marketing companies have reduced prices of petrol and diesel for fourth straight day, though by a meagre nine paise. Petrol now costs Rs 78.20 in Delhi while in Mumbai it costs Rs 86.01 per liter. In Kolkata and Chennai, it costs Rs 80.84 and Rs 81.19 per liter respectively. Prices for petrol and diesel […]
Suresh Prabhu asks Airbus to make planes in India
Civil Aviation Minister Suresh Prabhu has asked aircraft manufacturer Airbus to build planes in India under the ‘Make in India’ initiative and contribute to the country’s growing aviation sector. Prabhu visited the Airbus facility in Toulouse on Friday during his ongoing visit to France and said that if Airbus decides to make aeroplanes in India, […]
Venezuela stops payment of oil dues to ONGC Videsh
Cash-strapped Venezuela has stopped payments of oil dues to ONGC Videsh Ltd (OVL), leading to a $450 million pile-up, its MD & CEO Narendra K Verma said. OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has 40 per cent stake in Venezuela’s San Cristobal field, which produces around 18,000 barrels of […]
Delhi HC orders extension of Cairn India contract by 10 years on same terms
The Delhi High Court has ordered extension of Cairn India Ltd’s Rajasthan oil block contract for 10 years beyond 2020 on old terms and conditions, the company said in a regulatory filing. The court in an order yesterday directed the government to extend till 2030 the Production Sharing Contract (PSC) for Rajasthan block on the […]
Oil minister calls late-night meeting to mull options to reduce fuel prices
Oil minister Dharmendra Pradhan burned the midnight oil on Thursday with his ministry officials and top honchos of oil companies in an effort to figure out a way to reduce fuel prices. The meeting discussed whether the government could ask ONGC to subsidise retailers by way of discount on crude or a windfall tax. However, […]
ONGC Q4 profit up 36% at Rs 59 bn on back of high oil prices, lower levies
The Oil and Natural Gas Corp has reported a 36 per cent jump in profit in the fourth quarter because of higher crude prices and lower statutory levies. According to a company release, profit rose to Rs 59.15 billion in the three months to March, while revenue from operations grew by ten per cent to […]
ATF price hiked by 7% to a four year high; LPG up by Rs 2 per cylinder
Jet fuel or ATF price was on Friday hiked by a steep 7 per cent to a four-year high, while subsidised cooking gas LPG rates increased by over Rs 2 per cylinder, reflecting trends in the international oil market. Aviation turbine fuel (ATF) price was raised by Rs 4,688 per kilolitre, or 7.17 per cent, […]