NEW DELHI: India’s natural gas production has risen above the pre-COVID level following the start of output from a KG-D6 field operated by Reliance Industries Ltd and its partner BP Plc, upstream regulator DGH said on Thursday. Natural gas production in the country in February 2020 was 80 million standard cubic meters per day and […]
Day: February 12, 2021
NTPC Kameng project’s 4th 150 MW unit commercially operational
State-run power producer NTPC on Friday said the fourth 150 mega watt (MW) unit of Kameng Hydro-Electric Project of its subsidiary North Eastern Electric Power Corporation is commercially operational. “Consequent upon successful commissioning, unit-4 of 150 MW of Kameng Hydro-Electric Project (4×150 MW) of North Eastern Electric Power Corporation Ltd (a wholly owned subsidiary company […]
Government to spin-off NDR into separate company to boost oil, gas exploration
NEW DELHI: The government will create a company to own and operate India’s maiden National Data Repository (NDR) that stores information on the vast sedimentary basins in a bid to boost oil and gas exploration and production, a senior official said on Thursday. The NDR was launched in 2017 to assimilate, preserve and upkeep the […]
Targeting to conclude BPCL strategic sale by June: DIPAM Secretary Tuhin Kanta Pandey
NEW DELHI: The government is targeting to conclude the strategic sale of BPCL in the June quarter, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Thursday. “I think we are targeting the first quarter (of 2021-22 fiscal). The engagement is intense now, it is at the due diligence stage. […]
Power Finance Corporation profit spikes 17%
NEW DELHI: State-run power sector financier Power Finance Corporation (PFC) on Thursday disclosed a 17 per cent spike in its consolidated net profit for the quarter ended December 2920. The company clocked earnings of Rs 3,963.18 crore for the quarter under review compared to Rs 3,386.72 crore during the corresponding quarter of the previous year. […]
Petrol price close to Rs 88-mark in Delhi, diesel near Rs 85-level in Mumbai
NEW DELHI: Petrol price in the national capital closed in on record Rs 88 per litre mark while diesel neared Rs 85 in Mumbai after rates across the country were hiked for the third day in a row on Thursday. Petrol price was increased by 25 paise per litre and diesel by 30 paise a […]
Flight fare hike: Air travel to be costlier as Govt raises fare limits by up to 30 per cent
Air travel is likely to be costlier as the Ministry of Civil Aviation has increased the minimum and maximum cap on fares across all bands. The limits on airfares have been increased by 10-30 per cent, the ministry said in a notification issued on Thursday. While the move is expected to bring some relief to […]
CIL net profit tanks 21% as contractual expenses soar
NEW DELHI: State-owned Coal India Ltd (CIL) on Thursday reported a sharp 21.3 per cent decline in its consolidated net profit for the third quarter, at Rs 3,085.4 crore compared to a net profit of Rs 3,923.87 crore for the corresponding period. The company took a hit from a sharp rise in contractual expenses, details […]
Can power discoms be salvaged with new money? Not really!
The first bailout package for state electricity boards tied to reforms—the Accelerated Power Development Programme—was launched in 2000, but little discom reform materialised. A series of such ‘reform-linked’ packages have been announced since, including 2015’s UDAY, but there is little change in the state of the discoms. AT&C losses, which were to be cut down […]
India’s gas production rises above pre-COVID level: DGH
India’s natural gas production has risen above the pre-COVID level following the start of output from a KG-D6 field operated by Reliance Industries Ltd and its partner BP Plc, upstream regulator DGH said on Thursday. Natural gas production in the country in February 2020 was 80 million standard cubic meters per day and in January […]
Oil prices ease after record rally as OPEC, IEA fret about demand
Oil prices eased on Thursday, ending a record streak of gains, after both OPEC and the International Energy Agency (IEA) said renewed lockdowns and the emergence of new coronavirus variants reduced the prospect of a swift demand recovery. Brent futures fell 33 cents, or 0.5%, to settle at $61.14 a barrel, while U.S. West Texas […]
Coal India reports 21pc decline in Q3 net profit at Rs 3,084 cr
State-owned Coal India Ltd (CIL) on Thursday reported a 21 per cent decline in its consolidated net profit at Rs 3,084 crore for the quarter ended December 31, 2020 due to higher contractual expenses. It was Rs 3,921.81 crore in the same period a year ago, the company said. Net profit for the period after […]