Brent crude prices rose on Thursday after Saudi Arabia suspended its oil shipments through a key Red Sea strait in response to an attack on two of its tankers and as data showed U.S. inventories fell to a 3-1/2 year low. Brent crude futures had risen 55 cents to $74.48 a barrel by 0832 GMT, […]
Day: July 26, 2018
HPCL cancels Iran oil shipment after insurer excludes coverage
India’s Hindustan Petroleum Corp (HPCL) cancelled the purchase of an Iranian oil cargo earlier this month after its insurance company refused to provide coverage for the crude because of U.S. sanctions, three sources with knowledge of the matter said. HPCL, India’s third-biggest state-owned refiner, renewed its installation insurance, which protects against any accidents at its […]
Private power producers allege CIL selling more coal through e-auctions
Private power producers have alleged that Coal India is selling increased quantities of coal through e-auctions and have sought to stop e-auction sales till the company’s supply obligations to the power sector to generate low cost power are met. Ashok Khurana, director general of Association of Power Producers alleged that generators with supply contracts are […]
India and Vietnam can boost cooperation in oil and gas sector: V K Singh
There is scope for India and Vietnam to deepen cooperation in the oil and gas sector despite “all the troubles” the Southeast Asian country faces, Minister of State for External Affairs V K Singh said today, in an oblique reference to Vietnam’s disputes with China. There was also great potential to enhance cooperation in the […]
Projects for 6,320 km roads awarded under Bharatmala
Projects for constructing 6,320 km of road have been awarded under the first phase of the Bharatmala project, with the financial implication estimated to be Rs 1.44 lakh crore, the government said today. Road Transport and Highways Minister Nitin Gadkari also informed the Lok Sabha during Question Hour that the total investment for Bharatmala is […]