In a rare move, the government has issued a direction to power regulator Central Electricity Regulatory Commission (CERC) to allow changes in any central or state government duties to be passed in electricity tariffs to consumers post bidding. The industry welcomed the government’s move and said it will expedite procedures, helping a big chunk of […]
Day: August 27, 2018
Shell to buy out Total in Hazira LNG terminal
Royal Dutch Shell today said it will acquire French oil major Total SA’s 26 per cent stake in the company that operates 5 MTPA Hazira LNG terminal in Gujarat. The size of the deal was however not disclosed. “Shell Gas BV, a subsidiary of Royal Dutch Shell plc, has signed a binding Letter of Intent […]
Oil dips as trade row weighs, Iran sanctions expected to cut supply
Oil prices fell on Monday on concerns the U.S.-China trade dispute will erode global economic growth, although looming U.S. sanctions against Iran’s oil sector kept crude from falling further, traders said. International Brent crude oil futures were at $75.63 per barrel at 0654 GMT, down 19 cents from their last close. U.S. West Texas Intermediate […]
Government plans policy for biofuel use in aviation sector
The government plans to come out with a “special policy” for use of biofuel in the aviation sector, Union minister Nitin Gadkari said today. He was speaking at a function to mark India’s first test flight partially powered by biofuel that landed here from Dehradun. The 43-minute flight was operated by SpiceJet with a Bombardier […]
Government receives 150 proposals to build ethanol capacity
The government has so far received around 150 proposals from sugar mills like Bajaj Hindustan, seeking soft loan under a recently launched scheme for expansion and setting up of a new ethanol capacity, a senior Food Ministry official said today. In June, the government had announced a soft loan of Rs 4,440 crore to mills […]
Allahabad High Court refuses to give interim relief to power firms
In a body blow for the power sector, the Allahabad high court on Monday refused to give any interim relief to firms facing the bankruptcy tribunal. The 180-grace period granted by the RBI ended today. Banks were trying to come up with a resolution plan for these firms as going to the NCLT would mean […]