Sterling and Wilson Solar on Wednesday said it has commissioned a 25-MW solar energy project in Oman. “Sterling and Wilson Solar Ltd…has successfully commissioned its second project in Oman. The 25 MW solar project was awarded to SWSL by global energy company Shell,” the company said in a regulatory filing. “Oman is experiencing a rapid […]
Day: January 27, 2021
Make in India boost, oil cess may be halved
The government may give a ‘Make in India’ push to oil and gas explorers, as it is considering a proposal to almost halve cess on domestic crude oil to encourage exploration activity and allow Covid-hit oil producers to protect their margins. The glut in the oil market and deep suppression of demand during the peak […]
Mahanadi Coal Railway scouts for CEO to implement coal evacuation infrastructure projects in Odisha
In a bid to implement coal evacuation infrastructure projects in the state of Odisha, a joint venture of MCL, IRCON and IDCO- Mahanadi Coal Railway Limited is scouting for a chief executive officer. For the implementation of the project, one corridor has been identified initially. The estimated cost of the project is Rs 1,700 crore. […]
India’s green energy goals boosted by return of international investors
India’s goal of doubling renewable power by next year is getting a boost from international investors who see the massive market’s potential outweighing significant risks. French oil major Total SA’s $2.5 billion investment in Adani Green Energy last week is a sign that global companies increasingly under pressure to invest in environmental assets are eyeing […]
Global gas demand likely to grow by 2.8 per cent this year: IEA
Global gas demand is expected to grow by 2.8% this year, or about 110 billion cubic metres (bcm), recovering towards 2019 levels, a senior analyst from the International Energy Agency (IEA) said at the European Gas conference on Tuesday. Global gas markets posted their largest drop on record last year, with consumption falling by an […]
Centre sanctions Rs 6,600 crore to Andhra Pradesh power utilities
The Centre sanctioned Rs 6,600 crore to the state power utilities as Atmanirbhar loan, according to Andhra Pradesh state energy secretary N Srikath. The government released Rs 3,300 crore to the state under the second trench of the loan and already released an amount of Rs 3,300 crore so far, he added. While unfurling the […]
Govt plans to provide incentive for early commencement of production from auctioned mines
The government plans to provide incentive to mineral block allocatees for early commencement of production from the auctioned mines, a move aimed at increasing mineral output of the country and reducing imports. The mines ministry plans to do the same through amendment of the mining rules and has sought comments and suggestions from stakeholders on […]
450 infrastructure projects show cost overruns of Rs 4.28 lakh crore
NEW DELHI: As many as 450 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.28 lakh crore, according to a report. The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above. Of the 1,687 such projects, 450 reported […]
Oil falls as US stimulus squabbles, coronavirus surges sour mood
TOKYO: Oil prices dropped on Tuesday as the prospects for the rapid approval of new US economic stimulus waned while increasing new coronavirus infections raised questions over the pace of any recovery in demand. Brent crude was down 28 cents, or 0.5%, at $55.60 by 0747 GMT, while U.S. crude fell 26 cents, or 0.5%, […]
Oil rises as US oil stockpiles drop, new Chinese COVID-19 cases decline
MELBOURNE: Oil prices climbed on Wednesday after industry data showed U.S. crude stockpiles fell unexpectedly last week and China, the world’s second-biggest oil user, reported its lowest daily rise in COVID-19 cases, bolstering hopes of a pick-up in demand. U.S. West Texas Intermediate (WTI) crude futures rose 10 cents, or 0.2%, to $52.71 a barrel […]
Oil stable as US stimulus jitters counter OPEC+ supply cuts
LONDON: Oil prices were stable on Tuesday as concerns that a U.S. stimulus package might hit snags and rising coronavirus cases countered bullish signals from better compliance with a supply cut deal and ongoing vaccine efforts. Brent crude was up 15 cents, or 0.3%, at $56.03 by 0930 GMT, while U.S. crude rose 11 cents, […]
OVL plans 400-mn euro overseas bond issue to partly repay its debt
New Delhi: ONGC Videsh (OVL), the overseas arm of state-run explorer Oil and Natural Gas Corp, plans to raise about 400 million euro in foreign currency bonds to partly repay debt taken to fund its purchase of a stake in a giant Mozambique gas field, according to people with knowledge of the matter. ONGC Videsh […]