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 […]
Month: August 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 […]
Govt clears procurement of 111 utility helicopters for Navy at Rs 210 bn
In a major decision, the Defence Ministry on Saturday approved procurement of 111 utility helicopters for the Navy at a cost of over Rs 210 billion, officials said. They said the ministry cleared procurement proposals worth nearly Rs 460 billion which included the acquisition of the helicopters. The decisions were taken at a meeting of […]
ReNew, Hero among 31 in race for Madhya Pradesh solar rooftop tender
Thirty one companies have participated in the ongoing tender for Renewable Energy Service Company (RESCO) that will set up rooftop solar plants in Madhya Pradesh. These include major players like Mundra Solar PV, Amplus Energy Solution, Sukhvir Agro Energy Ltd, Clean Max Environment Energy Solutions, Hero Rooftop Energy, ReNew Solar Energy and Azure Power. The […]
Yogi govt promotes pvt solar parks; assures full power purchase by state
To promote green energy and reduce overdependence on coal-fired power generation, Yogi Adityanath government is fast changing gears to promote setting up of solar power parks in the private sector. The government would handhold solar power projects by allowing both ‘open access’ facility and guaranteeing full power evacuation and purchase by state-owned power utilities. The […]
Delhi airport’s T-3 to do away with the ‘dirty’ brown-beige rug this winter
Your travel experience though Delhi’s Indira Gandhi International (IGI) Airport’s T-3 terminal is set to become easier as the airport has decided to replace its ‘smelly’ brown-beige rug with hard flooring by the end of the year. After complaints by passengers, the Delhi International Airport Limited (DIAL) has decided to replace the smelly carpet, spreading […]
Oil up as U.S. sanctions on Iran cloud supply outlook
Oil prices rose on Friday, supported by signs that U.S. sanctions on Iran are already reducing global crude supply. Benchmark Brent crude oil was up 60 cents a barrel at $75.33 by 0935 GMT. Brent was on track for gains of almost 5 percent this week. U.S. light crude was 60 cents higher $68.43, heading […]
Long waited Saudi Aramco IPO deferred? Elon Musk can sympathise
I’ve long thought that Crown Prince Mohammed bin Salman’s life overlaps in curious but important ways with one Elon Musk, CEO of Tesla Inc. And now, MBS even has his own take on Musk’s “funding secured” meme. The long-awaited initial public offering of Saudi Arabian Oil Co., or Saudi Aramco, has been put on hold, […]