State-owned ONGC Videsh Ltd (OVL) lost development rights for the Farzad-B giant gas field in Iran to Iranian Petropars Group. OVL owns 40 per cent participating interest (PI) in the block in which gas discovery was first made by a consortium led by ONGC. Indian Oil Corporation too owns 40 per cent of PI, with […]
Day: May 19, 2021
Halt Singapore flights, new Covid variant can usher in third wave here: Arvind Kejriwal
Chief Minister Arvind Kejriwal Tuesday said a variant of the novel coronavirus found in Singapore could usher in a third wave in the country, and appealed to the Centre to immediately halt air services with Singapore. He said the new variant could be especially dangerous for children. In a tweet, Kejriwal said, “A new variant […]
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 […]
Coal India to set up 25 medical oxygen plants across India
PSU miner Coal India (CIL) will install 25 medical oxygen plants in 22 hospitals, 20 of which will together produce 12,700 litre of oxygen per minute. Four other plants will together generate 750 cubic metre per hour and one will be a refilling plant. Of the 25 plants, five will be installed at CIL’s own […]
Solar auction winners fret over ‘red tape’ in UP as input prices surge
More than a year after the solar auction for 184 megawatt (MW) held by the state, Uttar Pradesh is still holding back approval for the winners to commence construction of the parks. This has caused concern among the firms, which fear their calculations could go awry as input prices have surged in the past year. […]
Crude oil futures move higher on firm spot demand
NEW DELHI: Crude oil prices rose Rs 14 to Rs 4,873 per barrel on Tuesday as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the May delivery traded higher by Rs 14, or 0.29 per cent, at Rs 4,873 per barrel in 1,462 lots. Analysts said […]
Crude oil settles lower on reports of potential Iran nuclear deal
NEW YORK: Oil settled lower on Tuesday, tumbling from a two-month high after media reports said the United States and Iran have made progress on reviving a deal restricting the OPEC country’s nuclear weapons development, which would boost crude supply. Prices plunged on the reports that Russian ambassador to the United Nations Mikhail Ulyanov said […]
Will Bhushan Power resolution help SBI post stellar numbers for Q4?
MUMBAI: State Bank of India NSE 0.82 % (SBI) is projected to report a 77 per cent year-on-year rise in net profit for the quarter ended March 31 at Rs 6,342.2 crore, according to an average of estimates from seven brokerages polled by ETMarkets.com. The state-owned lender’s performance will be boosted by the resolution of […]
Adani Green hits upper circuit as co eyes stake in Japanese energy firm
NEW DELHI: Shares of Adani Green Energy NSE 3.34 % hit upper circuit for the second consecutive session amid reports that the company is eyeing a majority stake in a Japanese solar energy firm. The Adani group’s renewable energy firm is said to be vetting a proposal to buy out Japan’s SoftBank Group’s majority stake […]
Adani Green Energy to buy SB Energy Holdings in $3.5 billion deal
Adani Green Energy Limited (AGEL), the renewable arm of the conglomerate group formally announced its outright acquisition of SB Energy early on Wednesday morning in a deal worth $3.5 billion (Rs. 24,000 crore), the largest such transaction in India’s renewable story. ET had reported the same development in its April 17 edition, as talks had […]
Cairn’s Air India lawsuit may not delay selloff plan
NEW DELHI: Cairn Energy’s move to sue Air India (AI) in a US court to force recovery of the $1.2-billion international arbitration award it won is unlikely to have any impact on the privatisation of the state-run airline, a top government official said on Monday, asserting that all efforts were being made to stick to […]
New COVID strain in Singapore: Hardeep Singh Puri says govt keeping eye on situation
Aviation Minister Hardeep Singh Puri Tuesday said the Centre is taking all precautions and keeping an eye on the situation in Singapore after Delhi Chief Minister Arvind Kejriwal appealed to it to cancel all flights with the city-state as a “very dangerous” coronavirus strain has been detected there. “Kejriwal ji, all international flights have been […]