New Delhi: The government’s decision to free up gas pricing and incentivise incremental output is likely to fire up investments in gas fields and raise production, said company executives and analysts. The Cabinet on Tuesday granted marketing and pricing freedom to all new gas discoveries whose field development plan (FDP) had yet to be approved. […]
Day: February 21, 2019
GIC, ADIA to power Greenko again with $550m cheque
Sovereign wealth funds GIC Holdings Pte Ltd of Singapore and Abu Dhabi Investment Authority (ADIA) are investing $550 million of fresh primary capital in Greenko, India’s largest renewable energy firm. This will be the third round of capital infusion by the two, making the Hyderabad-based company the biggest recipient of foreign capital in the clean […]
Saudi Aramco in talks with Reliance for more projects in India
New Delhi: The world’s biggest oil producer, Saudi Arabian Oil Co. (Saudi Aramco) is in talks with Mukesh Ambani-controlled Reliance Industries Ltd (RIL), and others, for more projects in India, its chief executive said Wednesday. “We are looking at additional investment in India. So we are in discussions with other companies as well, including Reliance,” […]
Oil near 2019 highs amid OPEC cuts, US sanctions on Iran and Venezuela
Singapore: Oil prices hovered just below 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran. U.S. West Texas Intermediate (WTI) crude oil futures were at $57.30 per barrel at 0046 GMT, up 14 cents, or 0.2 percent, from their last settlement and not far off their 2019 high […]
Will strong growth in consumption of petroleum products sustain?
India’s consumption of petroleum products increased by 6.4% year-on-year in January, based on data from the Petroleum Planning and Analysis Cell. This looks decent, considering that growth was relatively soft in the previous five months, and also keeping in mind that in January 2018, consumption had increased by a robust 12.4% year-on-year. So the growth […]
Ratnagiri refinery may now come up in Maharashtra’s Raigad
MUMBAI: Mumbai: The proposed $44 billion refinery and petrochemicals project at Ratnagiri in Maharashtra may be shifted to neighbouring Raigad district, said a state government official and an executive at an oil marketing company. “They (the state government) are looking to shift the Ratnagiri refinery project to Raigad district,” the official said. A five-member committee […]
Would you rather fly Boeing or Airbus on the longest flight in the world?
Qantas Airways Ltd. is cranking up the rivalry between Boeing Co. and Airbus SE in the hunt for aircraft to undertake unprecedented 20-hour trips halfway around the world. The Australian airline plans to fly non-stop from Sydney to New York and London by 2022, marathon routes that will be the world’s longest commercial services. As […]
Jet Airways won’t get 5 Boeing 737 Max planes until its financial crisis is over
Mumbai: Lessors to Jet Airways (India) Ltd are holding on to deliveries of five new Boeing Co. 737 Max planes until the cash-strapped carrier overcomes its financial woes, a person with direct knowledge of the matter said. “Boeing has released 10 B737 Max aircraft for Jet Airways. Since they have been bought under the SLB […]
Airbus A380: A high-tech marvel that didn’t live up to its promise
This time it really is over. Airbus chief executive, Tom Enders, recently announced the end of the A380, the largest commercial aircraft ever built. Despite reported investments of more than €14 billion, this iconic European project has not been as successful as was originally hoped. With only 234 units delivered out of 313 ordered over […]
Jet Airways bailout: Why the airline’s second take-off may be doomed
For Jet Airways India Ltd., it’s always only about one rupee. As I wrote last month, the troubled full-service carrier needed to garner an additional 1 rupee (1.4 cents) per available seat kilometer to make up for its cost disadvantage against no-frills rivals. Cutthroat price competition denied it that opportunity, and now banks are picking […]
Ruckus at Delhi airport after Hyderabad-bound SpiceJet flight gets delayed
Passengers created a ruckus at the Delhi airport in the wee hours of Wednesday as a SpiceJet flight to Hyderabad, which was set to depart from Terminal 1, got delayed due to runway closure and unsuccessful attempts at changing terminals. “The incoming aircraft, which was to operate the Delhi-Hyderabad flight, landed at Delhi airport’s Terminal […]
Domestic air traffic clocks 9% growth in January, slowest in four years
Domestic air traffic clocked 9.1 per cent growth in January, the slowest in four years, on higher fares and lower capacity addition. Last month, domestic aircraft carry 12.5 million passengers as against 11.4 million in the same period last year. Air traffic in India has been growing at double digits for over 50 months in […]