Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output. Their agreement allows for “the resumption of oil production from the joint fields,” the Saudi energy ministry said on Twitter. The oil fields in the so-called neutral zone can produce as much as 500,000 […]
Day: December 26, 2019
Government seeks to hire three directors for divestment-bound Air India
Mumbai: The civil aviation ministry is seeking to hire three directors for divestment-bound Air India Ltd. The ministry has sought applications for the positions of a director each for the key verticals of operations, commercial and personnel. The step is in line with a cabinet decision last year to induct professionals from the private sector […]
DGCA to inspect PW engines used for more than 3,000 hours on GoAir’s A320neos
New Delhi: Aviation regulator DGCA on Tuesday decided to inspect all Pratt and Whitney (PW) engines which have been used for more than 3,000 hours of GoAir’s A320neo planes, an official said. The decision came after an incident on Monday morning in which an A320neo aircraft of GoAir carrying 132 passengers had to return 10 […]
GoAir flight to Kolkata forced to turn back due to engine snag
New Delhi: New Delhi: A GoAir-operated Airbus A320 Neo (new engine option) aircraft on Monday was forced to return to Guwahati, while flying to Kolkata, due to engine snag, highlighting safety concerns associated with the Pratt & Whitney (PW) engines that power the aircraft, sources told Mint. When contacted, GoAir said that its flight G8 […]
NTPC, world’s top rated power stock, seen recovering from 10-month low
NTPC Ltd. is the world’s most-loved power producer by equity analysts, and yet the shares of India’s largest utility are trading near a 10-month low. What gives? The New Delhi-based company is the top rated stock among the world’s largest utilities, with a recommendation consensus of 4.9 on a Bloomberg scale where 5 is a […]
Domestic airlines expected to lose over $600 million in FY20: CAPA India
NEW DELHI : Indian airlines are expected to lose over $600 million ( ₹4,273 crore) in FY 2019-20 as compared to a previous estimate of full-year profit of $500 million to $ 700 million ( ₹3,561 crore to ₹4,985 crore), aviation consultancy and advisory agency CAPA India said on Tuesday. “This is CAPA India’s sharpest […]
GoAir cancels flights for second successive day
NEW DELHI : Wadia Group-owned no-frills carrier GoAir cancelled several flights for the second successive day on Tuesday, following an order by the Directorate General of Civil Aviation (DGCA) to not overwork its crew amid escalating safety issues in the Indian airspace, according to an airline official. Most of the 19 flights scrapped on Tuesday […]
Imported coal volumes up 17% during Apr-Oct as domestic supplies shrink
The receipt of imported coal by thermal power plants has shot up by 17.6 per cent during April-October. The coal import volumes refer to the power plants monitored by the Central Electricity Authority (CEA), a power update report from CARE Ratings showed. Imports escalated as domestic supplies by Coal India Ltd (CIL) and another state […]
India’s Nov oil import growth fastest in seven months: Oil Ministry data
India’s oil imports in November grew at their fastest pace in seven months, while diesel exports soared the most in about 2 years, indicating higher refinery runs amid falling local demand for gasoil due to a slowing economy. India’s November oil imports rose 12.7% to 19.17 million tonnes (about 4.7 million barrels per day), the […]
Saudi Arabia, Kuwait end 5-year-long dispute over shared oil fields
Saudi Arabia and Kuwait have ended a nearly five-year-long dispute over shared oil fields and have agreed to resume oil production from the divided Neutral Zone, but stressed this would not change their OPEC commitments to crude oil production cuts. The allied Gulf Arab nations signed the agreement in Kuwait City on Tuesday. Local media […]
Govt creates expert panel for time-bound resolution of oil, gas disputes
With overhang of disputes choking investments in the oil and gas sector, the government has constituted an expert committee for time-bound resolution of exploration and production disputes without having to resort to tardy judicial process. The ‘Committee of External Eminent Persons/Experts’ for dispute resolution will comprise former oil secretary G C Chaturvedi, Oil India Ltd […]
SIAM, SMEV welcome electric vehicle policy of Delhi govt
Auto industry body SIAM on Tuesday said the electric vehicle policy announced by the Delhi government would help encourage consumers to adopt electric vehicles. Some of the welcome announcements in the policy include measures which would make electric vehicles affordable and acceptable, Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon said in a […]