The National Thermal Power Corporation (NTPC) suffered a temporary setback when the National Green Tribunal south zone bench in Chennai on Thursday kept the environment clearance (EC), issued to NTPC for its new thermal power plant in Ramagundam, in abeyance for seven months. The NGT bench wanted a re-appraisal done as per the additional terms […]
Day: May 28, 2021
Oil prices little changed as Iran concerns offset rosy demand outlook
Oil prices were little changed on Friday, with Brent holding near $70 a barrel as firm U.S. economic data and expectations of a strong rebound in global demand in the third quarter offset concerns about more supply from Iran once sanctions are lifted. Brent crude futures for July fell 9 cents, 0.1%, to $69.37 a […]
Karnataka tweaks EV policy, to offer 15 per cent capital subsidy to investors
The Karnataka Cabinet on Thursday decided to give 15% capital subsidy to investors in the electric vehicle sector after the state came under immense pressure from a few states which offered apparently better sops. The Cabinet decided to amend its Karnataka Electric Vehicle & Storage Policy, 2017, to improve upon its existing policy. The government […]
India added 2,105 MW grid-connected solar capacity in Q1 2021: Bridge to India
India added 2,105 megawatt (MW) of grid-connected solar power generation capacity in the first quarter (Q1) of 2021, as the first wave of COVID-19 subsided and construction pace picked up gradually. This took the total installed capacity to 44,241 MW by 31 March 2021, according to a recent report. It added that utility-scale solar installations […]
Govt considering FDI policy tweak to facilitate privatisation of BPCL
The government is considering a tweak in the current foreign direct investment (FDI) policy to allow overseas investors pick up majority stake in the India’s second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL), sources said. The government is privatising BPCL and is selling its entire 52.98 per cent stake in the company. For BPCL […]
Coal Ministry for clubbing spot auctions; power companies jittery
India is likely to club all spot coal auctions for regulated and non-regulated sectors, aiming at a market-determined uniform price for every grade. At present, separate auctions are held for different sectors and special auctions are held for the power sector, which is the only regulated sector. A senior official said the proposal by the […]
BPCL says no intention to sell stake in Petronet, IGL
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Thursday said it has no intention to sell a part of its stake in Petronet LNG Ltd and Indraprastha Gas Ltd (IGL) to help its new owner avoid making an open offer for the two gas companies. BPCL holds 12.5 per cent of the shareholding in India’s largest […]
Assam to export oil to B’desh, Myanmar in few years: CM
The Numaligarh Refinery (NRL), which was commissioned as per the provisions of the 1985 Assam Accord, would increase its capacity from the existing 3 million metric tonnes (MMT) to 9 MMT, besides bringing 6 MMT crude oil to Assam from Odisha, Chief Minister Himanta Biswa Sarma said on Thursday. Addressing the media here, Sarma said […]
Asia’s LNG demand growth to slow in 2022 as nuclear, coal gain- Woodmac
Liquefied natural gas (LNG) demand growth in Asia will slow down next year as the economic recovery stagnates and the capacity of competing fuels nuclear and coal expand in Japan and South Korea, research consultancy Wood Mackenzie said on Thursday. LNG demand in Asia is expected to rise by 12 million tonnes per annum (mmtpa) […]
Rural areas still without power, restoration tardy
BHUBANESWAR : Even as Chief Minister Naveen Patnaik has directed the Energy department to ensure restoration of power supply to at least 80 per cent (pc) of the areas affected by cyclone Yaas by 9 pm Thursday, a large parts of Bhadrak, Balasore and Mayurbhanj districts are going without power for three days. With no […]
NGT nod for two NTPC plants in abeyance
HYDERABAD: The National Green Tribunal (Southern Zone) on Thursday issued the direction that the Environmental Clearance granted to NTPC for two 800 MW thermal power plants at Ramagundam, be kept in abeyance for a period of seven months. The NGT has directed the Union Ministry of Environment and Forests (MoEF) to direct the NTPC to […]
Bharat Petroleum’s big dividend not the norm, warn experts
NEW DELHI: State-run oil marketing company Bharat Petroleum’s (BPCL) higher-than-expected dividend payout should not lure investors into accumulating PSU stocks in anticipation of receiving similar cuts from their profits. BCPL on Wednesday had announced a dividend of Rs 58, which was a 12 per cent yield on its then market price of Rs 478. BPCL […]