Saudi Aramco plans to sign preliminary deals to invest in two oil refining and petrochemical complexes in China during the Saudi Arabian Crown Prince’s visit this week, sources familiar with the plans said, as Beijing seeks expanded ties with Riyadh. The Saudi delegation, including top executives from Aramco, arrived in Beijing on Thursday for a […]
Day: February 22, 2019
India’s coal power plants ‘unhealthiest’ in world
Study reveals plants in India take the highest toll in the world when it comes to health Coal-fired power plants in India take the highest toll in the world when it comes to health, according to a study of global emission hotspots which found that China and the US are the largest producers of coal […]
Retail outlets: Oil companies issue letters of intent to over 2,500 applicants
Public sector oil marketing companies have issued letters of intent (LOI) to over 2,500 applicants to set up petrol pumps. Minister for Petroleum and Natural Gas Dharmendra Pradhan issued the online intimation to this first batch of successful candidates to enable them to collect the LOIs. It takes anywhere between six months and two years, […]
Oil dips as US crude output hits record 12 mn barrels per day
The price dips have halted a rally that pushed crude to 2019 highs this week amid supply cuts led by OPEC Oil prices fell on Friday after the US reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by the West Asia dominated producer club, OPEC, to withhold supply […]
NHPC, NLC forge power trading agreement
NHPC and Neyveli Lignite Corporation (NLC) have signed a power trading agreement to trade surplus power. A company statement said, “As per the Memorandum of Understanding, NHPC will offer surplus power available with the northern and north-eastern region to NLC India Ltd, who, in turn, will offer the same to the bulk consumer in the […]
ONGC, OIL asked to sell 66 fields
The Centre has asked Oil and Natural Gas Corporation (ONGC) and Oil India Ltd. (OIL) to sell 66 of their small oil and gas fields to private firms as it brought in a new policy to boost domestic production and cut imports, Petroleum Minister Dharmendra Pradhan said on Thursday. ONGC and OIL have a total […]
ReNew Power gets $350 mn debt funding
Clean energy producer ReNew Power on Thursday said it had secured a fresh debt financing of up to $350 million from the U.S. government’s development finance institution Overseas Private Investment Corporation (OPIC). This follows an earlier round of financing when OPIC granted a loan of $250 million to ReNew Power in March 2016, according to […]
Jet EGM takes shareholders’ nod for majority stake acquisition by banks
The extraordinary general meeting (EGM) of troubled airline Jet Airways on Thursday failed to discuss its exact financial condition or the way forward and merely restricted itself to discussing and passing resolutions allowing banks to acquire majority stake The airline is saddled with a bank debt of Rs. 8,200 crore and other dues to vendors, […]
Highway patrol forces in State get special powers
The highway patrol forces will now get special powers to take preventive and punitive action against motorists found violating traffic rules on the State and national highways in Maharashtra. The Home Department will soon make changes in existing regulations to empower 209 officers working under the Additional Director General (Traffic) for enforcing laws. The special […]
Call for use of technology to store renewable energy
The growing penetration of renewable energy into the distribution system without sufficient storage technologies is emerging as a big challenge, GITAM Deemed to be University president M. Sribharath said on Thursday. Speaking at a workshop on transition of power sector in India to meet futuristic energy needs, challenges and issues, he pointed out that due […]
Power supply regulation
Power supply to Triveni, Statue, and General Hospital in the Puthenchantha electrical section, and Jawahar Nagar and Bhagavathy Nagar in the Vellayambalam electrical section limits will be disrupted from 9 a.m. to 5 p.m. on Friday owing to maintenance work, according to a press release from the Kerala State Electricity Board (KSEB).
Two Ministries fly in formation
After a gap of nearly a decade, the Aero India Show in Bengaluru is being jointly organised by the Ministry of Civil Aviation and the Ministry of Defence. Besides providing a platform for the display of both civil and military products, the show also highlights investment opportunities and development strides that India has made in […]