(Reuters) – The chief executives of ExxonMobil Corp and Chevron Corp held preliminary talks in early 2020 to explore combining the two largest U.S. oil producers in what would have been the biggest merger of all time, according to people familiar with the matter. The discussions, which are no longer active, are indicative of the […]
Day: February 1, 2021
Govt may give Cairn oil field instead of paying $1.4 billion: Sources
The government may give Cairn Energy one of the surrendered oil fields such as Ratna R-Series in lieu of the USD 1.4 billion it has pay to the British firm, helping prevent seizure of foreign assets in case of default as well as get a experienced operator in struggling E&P sector, sources said. Cairn Energy […]
Indian Oil board gives nod for subsidiary to set up Rs 29,000 cr refinery
Sate-owned Indian Oil Corporation’s board has agreed to subsidiary Chennai Petroleum Corporation Ltd (CPCL) setting up a refinery for more than Rs 29,300 crore in Tamil Nadu. The two companies will hold 25 per cent stake each, while the balance will be with other investors. The 9 MMTPA (Million Metric Tonne Per Annum) refinery will […]
Govt mops up Rs 19,499 cr from CPSE disinvestment, buyback so far in FY21
The government has garnered Rs 19,499 crore through CPSE disinvestment and share buyback so far in 2020-21, as against the Rs 2.10 lakh crore budget target set for the entire fiscal year ending March 31. With COVID-19 related delays impacting big ticket strategic sales and listing of insurance behemoth LIC, the government is likely to […]
Power employees to boycott work on Feb 3 against govt’s privatisation
Intensifying stir against the Centre’s privatisation policy, 15 lakh power employees of the country would resort to “work boycott” on February 3, the All India Power Engineers Federation (AIPEF) said. “Prime Minister (Narendra Modi), through a letter, has also been apprised (of this) besides notice served on Union and state governments,” AIPEF Chairman Shailendra Dubey […]
Power demand hits all-time high on Saturday, indicating economic revival
Power demand touched an all-time high of 189.64 GW on Saturday, Power Secretary S N Sahai has said. “Power demand galloping. All India demand: 1,89,644 MW (189.64 GW) at 10.39 hrs today (January 30) crossed the previous highest all India demand of 1,88,452 MW (188.45 GW) on 28th January,” Sahai has tweeted. Last week, Power […]
Nepal awards hydropower project to India’s Satluj Jal Vidyut Nigam
In a major favour to New Delhi, a meeting chaired by Nepal Prime Minister KP Sharma Oli vening awarded a hydropower project to Indias Satluj Jal Vidyut Nigam. The meeting of the Investment Board Nepal (IBN), whose Chair is the Prime Minister, decided to award the project to the SJVN under the build, own, operate […]
Budget airline SpiceJet to add 20 new domestic flights from February
Budget airline SpiceJet will add 20 new flights on its domestic network from February. Accordingly, the airline announced the launch of 16 new flights connecting Jaipur with different cities including Dehradun, Amritsar, Udaipur and Delhi among others. Besides, the airline will connect Pakyong with Kolkata under the UDAN scheme. The airline will also add its […]
Tejas Mark II roll out next year; high-speed trials in 2023: HAL Chief
A more potent version of the indigenous Tejas multirole combat jet featuring a much powerful engine, greater load carrying capability, next-generation electronic warfare system and an array of superior avionics is expected to be rolled out next year and its first high-speed trials will start in 2023, Chairman and Managing Director of Hindustan Aeronautics Ltd […]