NEW DELHI: If Air India was run as a truly independent juridical entity, it would have gone out of business well over a decade ago, but it is kept in existence only to further India’s interests —Cairn Energy Plc has made some damaging remarks like this on Air India and the way the government had […]
Day: May 19, 2021
Energy agency: End new fossil fuel supply investments
BERLIN: A report by the International Energy Agency says immediate action is needed to reshape the world’s energy sector in order to meet ambitious climate goals by 2050, including ending investments in new coal mines, oil and gas wells. The Paris-based agency said in a report released Tuesday that it has determined there is a […]
Second tranche of commercial coal mines auction gets tremendous response: Govt
NEW DELHI: The Centre on Tuesday said the second tranche of commercial coal mines’ auction has received tremendous response which is reflected in around 50 mine specific tender documents being purchased by bidders till date. Moreover, many other prospective bidders are in the process of registration and purchase of tender documents from the auction portal, […]
Vijay Mallya loses bankruptcy petition amendment High Court battle in UK
LONDON: A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya’s now-defunct Kingfisher Airlines after the High Court in London upheld an application to amend their bankruptcy petition, in favour of waiving their […]
Analyst Corner: Retain ‘Reduce’ InterGlobe Aviation with Rs 1,200 TP
Dense clouds in the sky: The Indian aviation industry is facing its most challenging period — demand has disappeared, recovery remains highly uncertain and macro factors continue to be unfavourable. Current traffic is down almost 83% from the recent peak in February 2021 and is at about 13% of pre-pandemic levels in 2019. April-June is […]
Three vessels rescued from cyclone hit ONGC offshore field
Three out of the four vessels operating in ONGC’s western offshore fields in the Arabian Sea, which were drifting in the sea after cyclone Tauktae hit the Mumbai coast, have been taken in control and their crew are safe, the state-run oil producer said on Tuesday evening. One of the vessels, the barge called Papaa–305 […]
Can’t risk a mark of Cairn: Foreign investors look for fair & equitable business environment, not regulatory uncertainty
The legal dispute between Cairn Energy Plc (CEP) and the Union government has taken an ugly turn with the British oil major filing a lawsuit in New York, seeking to enforce an international arbitral tribunal’s award by seizing assets of Air India. The move follows a December 2020 ruling by the Permanent Court of Arbitration […]
Vijay Mallya loses bankruptcy petition amendment High Court battle in UK
A consortium of Indian banks led by the State Bank of India (SBI) on Tuesday moved a step closer in their attempt to recover debt from loans paid out to Vijay Mallya’s now-defunct Kingfisher Airlines after the High Court in London upheld an application to amend their bankruptcy petition, in favour of waiving their security […]
Fuel prices at new record highs; Petrol breaches Rs 99/litre for the first time in Mumbai
Petrol and diesel price today: After being steady for a day, prices of petrol and diesel were hiked again on Tuesday, May 18, 2021, touching fresh record highs across the country. In the national capital, the petrol price rose by 27 paise while that of diesel too inched up 29 paise. Following the latest price […]
Cyclone Tauktae: Coast Guard sent warnings to ONGC on May 11, 13 to remove ships
The Coast Guard, which regularly provides assistance to vessels in distress, had clearly warned the Oil and Natural Gas Commission (ONGC) and also the Flag Officer, Offshore Defence Advisory Group (FODAG), that all ships should come back to the harbour in the wake of Cyclone Tauktae. Inspector General Anand Badola, the Commandant General of Coast […]
Cyclone Tauktae: ‘Barge almost hit oil rig, was staring at death’
Many of the 137 people who were on board the ill-fated Gal Constructor barge ship and were rescued said they had given up hope of escaping alive and “stared at death” as their barge nearly hit an oil rig. Some even called their families to say their final goodbyes. The four-deck Gal Constructor, an accommodation […]
Coal India to invest Rs 35 cr to set up 25 oxygen generation plants
State-owned CIL on Tuesday announced an investment of Rs 35 crore to install 25 oxygen generation plants, across 22 hospitals, in a bid to augment the supply of the life-saving gas amid a surge in COVID-19 infections. These O2 generation plants will be set up in Coal India’s own hospitals and in district hospitals where […]