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 […]
Day: May 19, 2021
Cyclone Tauktae: Bandra-Worli sea link now open for commute, says BMC
The Bandra-Worli sea link in Mumbai is now opened to commute, Brihanmumbai Municipal Corporation (BMC) announced in a tweet on Tuesday. In the wake of Cyclone Tauktae, the sea-link was closed on Monday due to the strong winds. Mumbai witnessed heavy rain, forcing the authorities to suspend airport and rail services, and shut Bandra-Worli sea […]
2nd tranche of commercial coal mines auction gets tremendous response: Govt
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, the coal […]
Oil slides from 2-month high on report of potential Iran nuclear deal
NEW YORK (Reuters) -Oil slid nearly 2% 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 Iran’s nuclear weapons development, that could release more barrels into the market. Prices plunged on the reports citing Russian ambassador to the UN Mikhail […]
Gold scales a near four-month high; Brent crude tops $70 a barrel
Gold scaled a near four-month peak on Tuesday supported by a weaker US dollar, while non-yielding bullion also attracted investors seeking an inflation hedge. Brent oil, too, topped $70 a barrel with optimism building about the demand outlook in key regions, such as the US and Europe, but later declined. Spot gold was up 0.15 […]
Fuel prices at record high; Petrol breaches Rs 99/litre in Mumbai
Under the new found preference for revising fuel prices every alternate day, the Oil and marketing companies (OMCs) raised the pump prices of petrol and diesel yet again on Tuesday. Accordingly, the price of petrol increased by 27 paise per litre to Rs 92.85 a litre in Delhi while diesel price increased a tad higher […]
Oil hits $70 for first time since March 15 as Europe, US re-open economies
Oil rose on Tuesday to hit $70 a barrel for the first time since March, as expectations of demand recovery following reopenings of the European and U.S. economies offset concern over spreading coronavirus cases in Asia. The British economy reopened on Monday, and Europe is starting to reopen cities and beaches. New cases in the […]
Stop developing new oil, gas, coalfields to avert climate crisis, says IEA
The world has a choice — stop developing new oil, gas and coal fields today or face a dangerous rise in global temperatures. That’s the bold assessment from the International Energy Agency, the organization that has spent four decades working to secure oil supplies for industrialized nations. In its new road map for achieving net-zero […]
Oil extends gains as US, European reopenings outweigh fear of Asia demand
TOKYO (Reuters) – Oil prices climbed on Tuesday, extending gains from the previous day, as optimism over the reopenings of the U.S. and European economies outweighed fears of slower fuel demand in Asia due to surging COVID-19 cases and a new wave of restrictions. Brent crude oil futures were up 20 cents, or 0.3%, at […]
India grapples with LNG oversupply as coronavirus dashes demand
India’s liquefied natural gas importers are asking suppliers to defer deliveries as measures to curb the spread of the deadly Covid-19 virus have cut demand for the fuel. At least three companies — Indian Oil Corp., Gujarat State Petroleum Corp. and Petronet LNG Ltd. — have asked to delay shipments slated for May and June […]
Measures to mitigate impact of cyclone Tauktae underway, says ONGC
The Oil and Natural Gas Corporation (ONGC) on Tuesday said that “all possible measures in coordination with ODAG (Offshore Defence Advisory Group) and MRCC (Maritime Rescue Coordination Centre)” are being taken to ensure the safety of personnel and vessels in the aftermath of cyclone Tauktae. After Tauktae hit the Arabian Sea off the coast of […]
CESL to procure 300 electric vehicles from Tata Motors
State-owned CESL on Tuesday said it will procure 300 electric vehicles from Tata Motors. The procurement is a part of the Scaling up Demand-Side Energy Efficiency Sector Project financed by the Asian Development Bank’s line of credit to CESL, according to a statement. “Convergence Energy Services Limited (CESL), a wholly-owned subsidiary of Energy Efficiency Services […]