Singapore: Brent crude oil prices hit 2019 highs above $65 per barrel on Friday, spurred by U.S. sanctions against Venezuela and Iran as well as OPEC-led supply cuts. Brent rose as high as $65.10, pushing past the $65 mark for the first time this year, before edging back to $64.97 a barrel by 0450 GMT. […]
Day: February 16, 2019
India advises refiner to avoid US system for buying Venezuelan oil
India has asked one buyer of Venezuelan oil to consider paying the South American nation’s national oil company PDVSA in a way that avoids the US financial system, an Indian government source said, after Washington imposed fresh sanctions on Venezuela last month. The United States is seeking to cut off Venezuela’s oil revenue and pressurise […]
India to be world’s largest energy growth market by mid-2020s: Report
India will by mid-2020s surpass China as the world’s largest energy growth market, accounting for over a quarter of incremental global demand, UK supermajor BP said in its annual energy outlook. The 2019 edition explores the key uncertainties that could impact the shape of global energy markets out to 2040. “The greatest uncertainties over this […]
Govt proposes incentives worth Rs 88,500 crore to curb power emissions
India has proposed incentives worth Rs 88,500 crore ($12.4 billion) to encourage power plants to install equipment to curb emissions and to develop infrastructure for electric vehicles (EVs), a government statement said on Friday. The bulk of the money, Rs 83,500 crore, would be aimed at curbing sulphur emissions from power plants, with the rest […]
Govt plans over $12 bn in power plant, EV incentives to cut pollution
TThe government has proposed incentives worth Rs 88,500 crore ($12.4 billion) to encourage power plants to install equipment to curb emissions and to develop infrastructure for electric vehicles (EVs), a government statement said on Friday. The bulk of the money, Rs 83,500 crore, would be aimed at curbing sulphur emissions from power plants, with the […]
AirAsia India offers 20% discount on ticket prices across flights
Low-cost carrier AirAsia India Friday announced an up to 20 per cent discount on its ticket prices for travel across its flights as well as AirAsia network for a limited period sale offer. The seven-day offer commences from February 18 for travel between February 25 and July 31, AirAsia India said in a statement. The […]
IndiGo says 30 flights to be cancelled daily, denies 130 called off Friday
Budget carrier IndiGo on Friday said scheduled cancellations of 30 flights every day would continue till March 31 and denied that 130 flights were being cancelled on Friday. IndiGo’s statement came a day after media reports said the airline would cancel 130 flights on Friday. The carrier also said that out of the listed 130 […]
Jet Airways plans to raise about Rs 2,500 crore through rights issue
Cash-starved Jet Airways plans to raise about Rs 2,500 crore through a rights issue. Its lenders are also looking at a debt-to-equity conversion. While lenders may convert Rs 1,000 crore of debt into equity, they will also participate in the equity infusion through a rights issue as part of the deal. Additionally, promoter Naresh Goyal […]
Vijay Mallya seeks permission to appeal against extradition order
Embattled liquor baron Vijay Mallya, wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crores, has filed his application in the UK High Court, seeking permission to appeal against an extradition order signed by the British Home Secretary. The 63-year-old businessman, who remains on bail on an extradition […]
Bharatmala to hike NHAI’s total market borrowings to Rs 2 trn by 2022: Icra
The Bharatmala Pariyojana progamme is set to raise the dependence of National Highways Authority of India (NHAI) on market borrowings. Overall market borrowings for the Bharatmala Project are estimated at Rs 2.09 trillion till 2021-22. The total capital base comprising cess fund, toll collections and TOT (toll-operate-transfer) proceeds are pegged at Rs 3.77 trillion. “At […]