SANTIAGO: The Chilean Air Force reported on Monday the disappearance of one of its cargo planes that was headed to a base in Antarctica with 38 people on board. The Hercules C130 aircraft took off at 4:55 p.m. (1955 GMT) from the southern city of Punta Arenas and operators lost contact with it shortly after […]
Day: December 11, 2019
Coal linkage rationalisation helps thermal plants save Rs 3,770 cr annually
Coal India Ltd (CIL) on Tuesday said about 58 thermal power plants (TPPs) in the country are saving around Rs 3,770 crore per annum in coal transportation cost after the miner had implemented the fuel linkage rationalisation. A total of 63 million tonne of coal movement is currently involved under the rationalisation policy, CIL sources […]
Saudi central bank closely monitoring Aramco IPO, ready for a cash crunch
Saudi Arabia’s central bank is ready for any liquidity squeeze from Saudi Aramco’s initial public offering (IPO) and is closely monitoring local banks, its governor said, after heavy demand for loans to buy the stock. Aramco’s long-awaited listing on the Saudi Arabian stock exchange is due on Wednesday, completing the largest IPO on record and […]
RIL, Adnoc to co-develop ethylene dichloride facility in Abu Dhabi
Mukesh Ambani-led Reliance Industries Ltd (RIL) on Tuesday entered into an agreement with Abu Dhabi National Oil Company (Adnoc) to explore development of an ethylene dichloride (EDC) facility in Abu Dhabi. RIL said in a statement that it had signed a framework agreement with Adnoc to evaluate setting up of this facility next to Adnoc’s […]
Oil prices slide for second straight day as US-China tariff deadline looms
Oil prices slipped for a second straight day on Tuesday as a slowing global demand outlook outweighed OPEC’s deal with associated producers last week to deepen output cuts in 2020. Brent crude was down 33 cents, or 0.5%, at $63.92 per barrel by 1134 GMT while West Texas Intermediate oil was 29 cents, or 0.5%, […]
New York judge sides with Exxon Mobil in environmental fraud case
A New York judge sided with Exxon Mobil Tuesday in a closely-watched environmental case, concluding the oil giant did not mislead investors in its climate change disclosures. The ruling by Barry Ostrager, a judge in the New York state court, rejected arguments by the state’s attorney general that the company duped investors by downplaying the […]
BPCL stake sale shows govt’s change of track on disinvestment, says CEA
Chief Economic Advisor Krishnamurthy Subramanian on Tuesday said the disinvestment of a profitable company like BPCL reflects a change in the way government views disinvestment and privatization. “So far effectively the disinvestment figure had to decide fiscal deficit figure… but what we see now basically profitable companies like Bharat Petroleum is also being given to […]
Eastern region to face energy deficit of 11,000 million units in FY20: CEA
The country’s eastern region will face an energy deficit of 11,032 million units (MU) this fiscal, even as the nation as a whole is projected to be in surplus of 80,388 MU. Load Generation Balance Report (LGBR), prepared by the Central Electricity Authority (CEA), illustrates that the eastern region will enjoy surplus power during peak […]
Rajasthan levies Rs 2-5 lakh cess on solar projects, registration fee up 5x
Rajasthan, the state with the highest solar-power potential in the country, has decided to levy an additional cess on all existing and future solar power projects in the range of Rs 2.5-5 lakh per megawatt per year. In its latest draft Solar Energy Policy, the state has also proposed a five-fold increase in registration fees. […]
Power demand falls for fourth straight month, down to 98.84 bn units in Nov
India’s power demand fell 4.3% in November from a year ago, representing the fourth straight month of decline, government data showed. Electricity demand fell to 94.60 billion units in November 2019, from 98.84 billion units during the same period last year, data compiled by the Central Electricity Authority showed. India’s power demand fell 13.2% in […]
NTPC reported 19 cases of contractor irregularities in three years
Running India’s largest power producing company, NTPC, which is supplying over one-fifth of the country’s power, comes with its own challenges. One of these includes dealing with bribe, contract irregularities, and forged bank guarantees. NTPC has found 19 cases of irregularities in terms of contracts over the past three years, according to the data shared […]
Air India plane grounded due to technical reasons, returns to Raipur
Many Air India passengers were stranded at Raipur airport on Tuesday after their plane, that took off for Visakhapatnam, returned due to “technical reasons”. The aircraft is now grounded at Raipur and a relief flight is being arranged, an Air India spokesperson said. The flight AI651 was to fly to Visakhapatnam and then to Mumbai. […]