State-run monopoly miner Coal India (CIL) plans to supply 17.5 million tonnes of coal annually to captive power producers for five years through an auction that started last week and is slated to conclude on October 10. The average base price for the fuel on offer is around ₹1,343 per tonne while premiums offered by […]
Day: September 24, 2018
NHPC moves Supreme Court against Delhi High Court order on arbitral award
The National Hydroelectric Power Corporation (NHPC) has moved the Supreme Court against the order of a larger bench of the Delhi High Court refusing to interfere with an earlier decision asking it to pay 75 per cent of an arbitral award granted in favour of a construction company. NHPC has challenged the September 13 order […]
Oil could rise to $100 by 2019 as global markets tighten, merchants warn
Oil prices could rise towards $100 per barrel towards the end of the year or by early 2019 as sanctions against Iran bite, commodity merchants Trafigura and Mercuria said on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore. Almost 2 million barrels per day (bpd) of crude could be taken out of the […]
PM Modi inaugurates Pakyong Airport in Sikkim; first flight from October 4
Prime Minister Narendra Modi on Monday inaugurated the Pakyong Airport in Sikkim, the first ever aerodrome of the state. Chief Minister Pawan Chamling and Union Aviation Minister Suresh Prabhu were also present on the occasion, as the Prime Minister unveiled the plaque, formally inaugurating the 990-acre aero facility. The first commercial flight from Pakyong is […]
Refiners may reduce oil imports as crude prices soar, Re struggles
India, the world’s third-biggest oil importer, is considering reducing oil purchases to mitigate the pain of high crude prices and the declining rupee, said two sources at different Indian refineries with direct knowledge of the matter. The decision to cut imports illustrates that rising crude prices and emerging market currency weakness may start causing oil […]
Saudi says door open to future oil output hike
Supply to the global oil market remains “satisfactory”, Saudi Arabia’s energy minister Khalid al-Falih said Sunday, after calls by US President Donald Trump for an immediate hike in output to reduce prices. But Falih — attending a meeting of oil producers in Algiers — left the way open to a future production hike, as supplies […]
Editorial- October 2018
The Supreme Court judgment of April 11, 2017 had ruled against force majeure claims of gencos on the change in law in Indonesia on imported coal. But, it allowed compensations in case of change in the Indian laws. That means the demand of tariff hike on imported coal was dismissed. The gencos involved are: Adani, […]