NEW DELHI: The Indian Energy Exchange (IEX) on Tuesday said state-owned GAIL (India) Ltd has acquired five per cent stake of the IEX in its arm Indian Gas Exchange (IGX). However, the company did not divulge the details about the value of the transaction. Last month, Adani Total Gas and Torrent Gas had acquired five […]
Day: February 10, 2021
Petrol, diesel prices at fresh highs; petrol crosses Rs 87 mark in Delhi
Petrol and diesel prices on Tuesday climbed to fresh highs in the country as rates were hiked after a three-day hiatus. Petrol and diesel prices were hiked by 35 paise per litre each, according to price notifications of state-owned fuel retailers. The increase took petrol prices to a fresh high of Rs 87.30 a litre […]
India energy demand set to grow fastest in the world; to overtake European Union
NEW DELHI: India’s energy demand will increase more than that of any other country over the next two decades, the International Energy Agency (IEA) said on Tuesday forecasting India overtaking the European Union as the world’s third-largest energy consumer by 2030. An expanding economy, population, urbanisation and industrialisation will result in India’s energy needs growing […]
Indigo parent pays Rs 2.1 crore to settle with SEBI
NEW DELHI: IndiGo Airlines promoter InterGloble Aviation has settled its dispute with market regulator Securities and Exchange Board of India (Sebi) by agreeing to pay settlement charges of Rs 2.10 crore. SEBI has now disposed of adjudication proceedings against InterGlobe Aviation. “…The applicant vide its letter dated January 7, 2021, proposed the payment of Rs […]
Bharat Petroleum Q3 net profit doubles as crude rates rise
NEW DELHI: Bharat Petroleum Corporation Ltd (BPCL) on Tuesday reported a more than doubling of its net profit for the December quarter year-on-year due to a sharp rise in inventory gains resulting from rising crude oil prices. According to financials released by the oil marketing company, its net profit in the October-December quarter (Q3FY21) stood […]
Supply assurance to add more gas consumers in the east: Santosh Chandra, CEO, Essar Oil and Gas Exploration and Production
Essar Oil and Gas Exploration and Production (EOGEPL) recently dispatched its maiden compressed coal bed methane (C-CBM) natural gas cascade truck for Bengal Gas Company’s first CNG station in Kolkata. The Raniganj East CBM Block in West Bengal, with its 348 wells, is a flagship asset of the company with a significant volume of CBM […]
IRB Infrastructure Developers to raise up to Rs 2,200 crore via NCD issue
IRB Infrastructure Developers on Wednesday said it will raise up to Rs 2,220 crore through issuance of non-convertible debentures. “The company has entered into a definitive agreement with India Toll Roads – Foreign Portfolio Investor, for raising of funds by issuance of non-convertible debentures up to Rs 2,220 crore subject to satisfactory completion of procedural […]
Basic customs duty on solar imports still on the cards: Ministry of New and Renewable Energy
Even though Union finance minister Nirmala Sitharaman did not mention any import restrictions on solar cells and modules to boost the domestic manufacturers, the ministry of new and renewable energy (MNRE) does not rule out the imposition of basic customs duty (BCD) on such items. Addressing the media about the implications of the budget on […]
Belt and Road Initiative: Pakistan to seek debt relief from China
Pakistan plans to ask China for relief on payments for power projects Beijing financed over the past eight years, the latest developing nation that’s struggling to repay debt under President Xi Jinping’s Belt and Road Initiative. In informal talks, Pakistan and China have discussed easing terms on the repayment of debt on about a dozen […]
Petrol hits another high of Rs 87.60 in New Delhi, diesel at Rs 77.73
Petrol price on Wednesday touched a record high of Rs 87.60 in the national capital, a day after breaching the Rs 87-a-litre mark. Petrol and diesel prices were hiked by 30 and 25 paise per litre respectively on Wednesday, according to a price notification from oil marketing companies. The diesel prices stood at Rs 77.73. […]
Covid-19 impact: CPSEs weather blow, regain capex pace
Large central public-sector entities – companies and undertakings (CPSEs) – achieved 67% of their capital expenditure target for FY21 in April-January of the financial year by spending Rs 3.35 lakh crore, according to official sources. This is indeed a creditable achievement in the pandemic-ravaged year, as it reflects a sharp pick-up after the lockdown period […]
Crude, cracks and tax cocktail pushes India’s fuel users to the brink
A recovery in international prices is expected to keep petrol and diesel prices firm in the country. This, coupled with the recent inching up of crude oil price to beyond $60 a barrel, has locked domestic petrol and diesel rates at record levels. Petrol price climbed to an all-time high of Rs 87.30 a litre […]