Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook. Demand was 360 million tonnes last year, up slightly from 2019’s 358 million tonnes, despite volatility caused by lockdowns during the coronavirus pandemic. Global LNG prices hit a […]
Day: February 26, 2021
Boeing planned to replace 777 engine covers before failures – WSJ
(Reuters) – Boeing Co was planning to replace engine covers on its 777 jets months before a pair of recent serious failures, the Wall Street Journal reported on Thursday, citing an internal Federal Aviation Administration document. The U.S. Federal Aviation Administration (FAA) on Tuesday ordered immediate inspections of 777s with Pratt & Whitney PW4000 engines […]
Oil holds near 13-month high, supported by sharp drop in US output
NEW YORK (Reuters) – Oil prices held near 13-month highs on Thursday, with profit-taking limited by an assurance that U.S. interest rates will stay low and a sharp drop in U.S. crude output last week due to the winter storm in Texas. Brent futures for April delivery rose 10 cents, or 0.2%, to $67.14 a […]
Flight bookings hit as Bengal, TN join list of states mandating RT-PCR
Domestic airlines have seen 10-12 per cent drop in bookings as state governments have tightened measures to prevent the spread of Covid-19. West Bengal joined Maharashtra and Karnataka on insisting on negative RT-PCR tests for travellers from certain states in a move that has dampened sentiment. Passengers from Maharashtra and Karnataka will have to undergo […]
Asia seen driving 75% of LNG demand growth by 2040: Shell LNG outlook
Asian countries are expected to drive most of the demand for Liquefied Natural Gas (LNG) by 2040 according to Shell’s LNG Outlook 2021. “Overall, global LNG demand is estimated to hit 700 million tonnes by 2040. Asia is expected to drive nearly 75 per cent of this growth as domestic gas production declines and LNG […]
Fuel prices rising as crude-producing nations raising prices: Pradhan
Union Petroleum Minister Dharmendra Pradhan on Thursday said petroleum products in the country are getting costlier due to rising prices of crude by oil-producing nations. “In order to earn more profit in the interest of their countries, crude-supplying countries are increasing the prices of crude,” said Pradhan while speaking to reporters here on the rise […]
Fuel taxes: Centre and states need to act jointly, says FM
Amid the clamour for a reduction in taxes on petrol and diesel in the wake of the relentless rise in retail prices of the two fuels, finance minister Nirmala Sitharaman on Thursday said that the issue needed to be resolved jointly by the Centre and state governments. The minister said she would not be able […]
Centre, states need to talk to ease load on consumer: FM on fuel price hike
Speaking on the fuel price hike issue, Finance Minister Nirmala Sitharaman on Thursday admitted that both the Centre and state needed to talk in a way to reduce burden on petrol and diesel consumers. “If eventually, we want the consumer not to be bearing so much of the burden, it is the Centre and states […]
AAI issues tenders for construction of 1st phase of Dholera airport in Guj
The Airports Authority of India (AAI) on Thursday issued tenders for the construction of the first phase of an international airport at Dholera in Gujarat, entailing an investment of Rs 987 crore, according to an official statement. The new facility is being set up in greenfield city under the Delhi-Mumbai Industrial Corridor (DMIC) project at […]
Kalrock-Jalan consortium to invest Rs 1,375 crore in debt-laden Jet Airways
Kalrock-Jalan consortium will invest around Rs 1,375 crore in Jet Airways over two years. The consortium which won the bid to revive the grounded airline last October plans to start with domestic services using 5-7 new aircraft and will fund the investment through mix of equity and debt, it informed the National Company Law Tribunal […]
UP Budget Session: Resolution passed to name Ayodhya airport after Lord Ram; details
On Tuesday, a resolution was passed by the Uttar Pradesh Assembly to name the Ayodhya airport in UP as Maryada Purushottam Sriram Airport. The UP Assembly cited the importance of the holy town- Ayodhya as an “equivalent to heaven as per Atharva Ved”. According to an IE report, the resolution was tabled a day after […]
Petrol costs ₹90.93, diesel ₹81.32 in Delhi. Check fuel prices
Petrol and diesel prices are far above their peak this year touching ₹100 mark in states like Rajasthan and Madhya Pradesh. While no fuel price rise has been reported on Thursday, petrol price in Delhi is ₹90.93 per litre and diesel costs ₹81.32 per litre, as per goods returns. The increase in the prices of […]