After its transport wing, BEST’s power supply division is on the verge of being completely privatised, said BMC Opposition leader Ravi Raja on Sunday, sharing a proposal by the undertaking to “outsource” jobs for cable fault repairs, digging trenches and excavation for laying cables. The Rs 48-lakh contract was cleared by general manager Surendrakumar Bagde, […]
Day: January 4, 2021
Oil prices touch multi-month highs as OPEC+ expected to hold output
Oil prices touched multi-month highs on Monday on expectations that OPEC and allied producers may cap output at current levels in February as the coronavirus pandemic keeps worries about first-half demand elevated. Prices rose in line with broader financial markets with Brent crude futures reaching $53.17 a barrel, the highest since March 2020. U.S. West […]
NRL pays first interim dividend of Rs 122 cr to Assam govt
The state-owned Numaligarh Refinery Ltd (NRL) in Assam on Sunday paid first interim dividend of around Rs 122.61 crore to the state government for the current fiscal, an official statement said. NRL Managing Director S.K. Barua handed over the dividend cheque to Chief Minister Sarbananda Sonowal in the presence of Chief Secretary Jishnu Baruah and […]
L&T Hydrocarbon Engineering bags over Rs 7,000 cr order from HPCL Rajasthan Refinery
L&T Hydrocarbon Engineering (LTHE) on Monday said it has bagged an over to Rs 7,000 crore order from HPCL Rajasthan Refinery Ltd (HRRL), a joint venture between Hindustan Petroleum Corporation (HPCL) and Government of Rajasthan, for setting up a dual feed cracker unit. The engineering and construction company, however, did not provide the exact value […]
Govt nudges, Chandigarh moves SC on power department privatisation
The UT administration has challenged the Punjab and Haryana high court order to stay the privatisation of the power department in the Supreme Court by filing a special leave petition (SLP). The move comes following a letter from the ministry of the power to the UT adviser on December 28 last year making the recommendation. […]
Coal India capex utilisation over Rs 8,000 cr till December, aiming at Rs 13,000 cr target
Despite its cash-flow issues, Coal India Ltd has already spent over Rs 8,000 crore as capital expenditure (capex) till December 2020 in the current fiscal, and is looking to meet a revised target of Rs 13,000 crore of such expense by the end of FY’21, an official said on Sunday. The capital expenditure target for […]
Russia’s 2020 crude oil output at lowest in nearly a decade
Russia’s crude oil and condensate output fell to a nine-year low in 2020 as the nation took part in historic OPEC+ production curbs. The Organization of Petroleum Exporting Countries and its allies implemented unprecedented output cuts from May as global lockdowns to contain the spread of Covid-19 crushed demand. Russia shouldered the biggest burden of […]
Airbus said to deliver about 560 planes last year with late push
Airbus SE was close to delivering 560 planes to customers as of Dec. 31, approaching the top end of its internal target in a year marred by the pandemic-induced collapse of air travel, according to people familiar with the matter. The European planemaker delivered close to 550 aircraft as of Dec. 29, Bloomberg reported earlier, […]
Discoms’ outstanding dues to power gencos rise 35% to Rs 1.41 lakh crore in Nov
Power producers’ total dues owed by the distribution firms rose over 35 per cent to Rs 1,41,621 crore in November 2020, reflecting stress in the sector. The distribution companies (discoms) owed a total of Rs 1,04,426 crore to power generation firms in November 2019, according to portal PRAAPTI (Payment Ratification And Analysis in Power procurement […]
Iraq agrees $2 billion prepayment oil supply deal with Chinese company
Iraq has agreed a multibillion-dollar oil-supply deal with a Chinese company, according to the Arab nation’s official news agency. SOMO, which oversees Iraq’s petroleum exports, picked a Chinese firm after receiving bids from several traders, INA reported, citing an interview with SOMO General Manager Alaa Al-Yasiri. While INA didn’t name the company or specify if […]
NHAI will use customised software for tracking staff
NEW DELHI: Road Transport and Highways Minister Nitin Gadkari said the National Highways Authority of India (NHAI) will use specific software to keep track of files to monitor officials who cause delays in disposing them off. “Red tape will no longer be tolerated… Delayed decision-making results in losses. To eradicate red-tape, we will be bringing […]
Plans afoot to kick off expansion of National Highway-167
MAHABUBNAGAR: Stage is set for the expansion of National Highway-167 from Jadcherla to Raichur under the Bharat Mala project. The State government is expected to issue a notification for acquisition of land for the project in the near future. The NHAI has, meanwhile, submitted a Detailed Project Report (DPR) to the Telangana government. The highway, […]