CHENNAI: The government will auction off unmonetised large oil and gas fields of state-owned oil and gas exploration firms ONGC and OIL to boost the country’s hydrocarbon production, according to petroleum minister Dharmendra Pradhan, who was speaking at the launch of the third round of auction of small discovered fields on Thursday. Pradhan added that […]
Day: June 11, 2021
LPG consumers to be able to choose desired distributors, says Centre
CHENNAI: The Ministry of Petroleum said on Thursday that LPG consumers will soon be able to choose their desired distributors and that a pilot project to implement the same would be carried out in five cities including Coimbatore and Gurugram. “It has been decided to allow LPG customers to have a choice deciding which distributors […]
Protect PPAs to recharge investment in renewables
Despite the Centre’s Rs 1.25-lakh-crore liquidity infusion scheme to enable state distribution companies (discoms) to clear the dues of generators, a large number of renewable energy producers in many states remain to be paid. The situation in Andhra Pradesh is alarming due to the state government’s insistence that old PPAs for solar and wind energy […]
Govt to auction ‘major’ oil, gas fields of ONGC, OIL: Pradhan
The government will auction unmonetised large oil and gas fields of state-owned ONGC and OIL to boost the country’s hydrocarbon production, Petroleum Minister Dharmendra Pradhan said on Thursday. Speaking on the launch of the third round of auction of small discovered fields, he said companies cannot indefinitely sit on resources they may have discovered. These […]
NHAI lashes whip again; Bars another company
The National Highways Authority of India (NHAI) has prohibited Gayatri Projects from participating in the ongoing and future bids of the authority till the defects on the current project are not completely rectified. The construction firm was engaged in making the four lanes of the Sultanpur to Varanasi stretch in Uttar Pradesh. According to a […]
Reliance shuts unit at Jamnagar refinery
Reliance Industries Ltd said it has shut a secondary unit at its only-for-exports oil refinery at Jamnagar in Gujarat, which may delay shipment of some product cargoes. “The Fluidized Catalytic Cracker Unit (FCCU) in our SEZ refinery at Jamnagar had to be taken for an emergency shutdown on June 6, 2021,” the firm said in […]
Reliance says FCCU unit at Jamnagar refinery shut, exports may be delayed
India’s private refiner Reliance Industry said on Wednesday a secondary unit at its export-focused refinery in the western state of Gujarat has been shut since June 6, which may delay the shipment of some product cargoes. The refinery, which has the capacity to process 704,000 barrels of crude per day (bpd), is part of the […]
At 6,499 MW, Delhi sees highest power demand this summer
Pushed by the sultry weather condition, Delhi’s peak power demand soared to 6,499 MW on Thursday afternoon, the highest so far this summer, discom officials said. The peak power demand of Delhi at 6,329 MW on Wednesday night, crossed last year’s peak demand of 6,314 MW, they said.
A Rs 3.14 lakh-crore jump in Adani’s fortune is fraught with many risks
A rally in the stocks of companies controlled by Indian billionaire Gautam Adani has added almost Rs 3.14 lakh crore ($43 billion) to his wealth this year, catapulting him to the spot of the second-richest person in Asia. Some analysts say the gains are fraught with risk. Adani’s net worth of Rs 5.6 lakh crore […]
Coal sector facing some headwinds from financial markets: Govt
The government on Thursday said the coal sector is facing a bit of headwind from the financial markets and that could be one of the reasons for global players not participating in commercial coal mine auctions. This comes after Coal Minister Pralhad Joshi earlier exuded confidence that in the next round of auctions, there would […]
NHPC net profit rises 80 pc to Rs 464 cr in Mar quarter
State-owned hydro power giant NHPC on Thursday reported nearly 80 per cent jump in its consolidated net profit to Rs 464.60 crore for the March 2021 quarter. Its consolidated net profit had stood at Rs 258.83 crore in the quarter ended on March 31, 2020, a BSE filing said.
Jaypee Infratech resolution: Committee of Creditors of JIL to vote on NBCC, Suraksha bids next week
The committee of Creditors (CoC) of Jaypee Infratech (JIL) on Thursday cleared the revised resolution plans of state-run NBCC and the consortium led by Suraksha Realty. Now the panel will put both the bids to vote from next week. Sources said voting on the revised bids will commence on Monday (June 14) and will conclude […]