India is planning a 25 percent to 30 percent hike in tariffs for local gas pipelines by end-December, an industry source with direct knowledge of the matter said on Wednesday. India’s gas transportation regulator Petroleum and Natural Gas Regulatory Board (PNGRB) recently raised the tariff by the same range on seven local piplines. The new […]
Day: November 14, 2018
India says ready to import more gas and oil from the United States
India’s foreign secretary Vijay Gokhale said on Wednesday the country is open to importing more oil and gas from the United States. “We expressed our readiness to import more gas and more oil from United States as a way of expanding trade,” Gokhale told reporters on the sidelines of an Asian summit attended by Prime […]
NHPC Net up 19.62% at Rs 1,218.51 cr in Jul-Sept qtr
State-owned hydro power giant NHPC posted 19.62 per cent jump in its net profit at Rs 1,218.51 crore in the quarter ended September 30, 2018. The company’s net profit in the quarter ended September 30, 2017 was Rs 1,018.64 crore, a BSE filing stated. According to the statement total revenue of the company rose to […]
Oil jumps towards $67 as OPEC, partners discuss supply cut
Oil rose towards $67 a barrel on Wednesday, recouping some of the previous session’s slide, on the growing prospect of OPEC and allied producers cutting output at a meeting next month to prop up the market. Crude rallied after three sources familiar with the issue said OPEC and its partners are discussing a proposal to […]
PM Narendra Modi’s infra development vision to play catalytic role in overall economic growth: Assocham
Lauding PM Modi for launching landmark projects in Varanasi, industry body Assocham said expanding investment in infrastructure will generate jobs, promote tourism and play catalytic role in overall growth and development of Indian economy. Assocham secretary general Uday Kumar Varma Wednesday said the government’s vision for new and improved infrastructure that can serve the nation […]
Global oil market faces surplus throughout 2019 as demand growth slows
Global oil supply will outpace demand throughout 2019, as a relentless rise in output swamps growth in consumption that is at risk from a slowing economy, the International Energy Agency said on Wednesday. In its monthly report the Paris-based IEA left its forecast for global demand growth for 2018 and 2019 unchanged from last month […]
GVK seeks shareholders’ nod to raise Rs 8000 Cr to retire debt
GVK Power and Infrastructure Limited Wednesday sought approval to raise up to Rs 8,000 crore from shareholders and an appropriate resolution was moved in the Annual General Meeting (AGM) held here. The Board of Directors sought to raise the amount for the repayment of the outstanding financial obligations of the company and its subsidiaries or […]
With Jet stuck between hope and despair, Naresh Goyal is running out of time
Naresh Goyal, Chairman of Jet Airways, India’s second-biggest airline by market share, began his career in aviation as a humble cashier in his maternal uncle Seth Charan Das Ram Lal’s travel agency, East-West Agencies, in 1967. He rose in his field to launch an airline of his own 25 years ago. Today, Jet Airways — […]