Rating agency Standard and Poor’s on Tuesday said state-owned Oil and Natural Gas Corporation Ltd’s (ONGC) improved earnings outlook for the next 12-18 months will support deleveraging. “We expect the India-based company to benefit from favorable crude oil prices over FY22 (year ending March 31, 2022),” S&P said in a statement. “It is rated at […]
Day: June 30, 2021
ADNOC and Reliance Industries to set up petrochemical project in Abu Dhabi
Reliance Industries (RIL) and Abu Dhabi National Oil Company (ADNOC) have signed an agreement to set up a new petrochemical complex in Ruwais, Abu Dhabi, to produce chlor-alkali, ethylene dichloride, and polyvinyl chloride (PVC). Under the terms of the agreement, this integrated plant will have a capacity to produce 940,000 tonnes of chlor-alkali, 1.1 million […]
When do electric vehicles become cleaner than combustion-engine cars?
DETROIT (Reuters) – You glide silently out of the Tesla showroom in your sleek new electric Model 3, satisfied you’re looking great and doing your bit for the planet. But keep going – you’ll have to drive another 13,500 miles (21,725 km) before you’re doing less harm to the environment than a gas-guzzling saloon. That’s […]
Lifetime carbon emissions of electric vehicles versus gasoline cars
(Reuters) – Reuters analyzed data generated by an Argonne National Laboratory model to determine at what point a typical electric vehicle (EV) becomes cleaner than an equivalent gasoline car in terms of its lifetime carbon footprint. Based on a series of assumptions, the data showed that a Tesla Model 3 in the United States, for […]
India says will oppose ‘regressive proposal’ by rich nations on carbon tax
India and other developing nations will oppose plans by the European Union and the US to penalize imports of carbon-intensive goods to curb emissions at the global climate summit to be held in Glasgow this November. “It is the most regressive proposal” with “no principle of equity adhered to,” Environment Minister Prakash Javadekar told Bloomberg […]
NTPC to hive renewable arm and list it soon, plans to add 60 Gw capacity
State-owned thermal power behemoth, NTPC Limited would hive off its renewable arm and take it public, as it aims to add 60 Gw of renewable capacity by 2030. Speaking at the Bloomberg New Energy Finance summit in Delhi, Gurdeep Singh, Chairman & managing director, NTPC Ltd said, “We should not focus on one way of […]
Debt-laden Go Airlines’ planned $485 million IPO put on hold by Sebi
Go Airlines India Ltd.’s plans to raise 36 billion rupees ($485 million) via an initial public offering have been put on hold by India’s market regulator, dealing another blow to the debt-laden carrier whose business has been decimated by the coronavirus pandemic. Go Airlines’ share sale documents will be “kept in abeyance,” the Securities and […]
US proposes to ban air travel between US and Belarus in latest fallout
The United States has proposed sharp restrictions on travel between the US and Belarus, the latest fallout from the forced landing of a passenger jet to arrest a dissident Belarussian journalist. The Transportation Department said the order would bar airlines from selling tickets for travel between the two countries, with possible exceptions for humanitarian or […]
United Airlines confirms its largest ever order for Boeing and Airbus jets
United Airlines confirmed its largest ever order for Boeing and Airbus jets on Tuesday, lining up 270 planes worth more than $30 billion at list prices as the US giant pursues post-pandemic domestic growth. The 200 Boeing 737 MAX and 70 Airbus A321neo jets will replace smaller mainline planes and at least 200 regional jets […]
IndiGo’s reduces emissions by 5% via ground support equipment automation
Airline major IndiGo has reduced emissions by about 5 per cent via its ground support equipment automation. Accordingly, IndiGo adopted various solutions in both passenger and freight services such as ‘modified baggage BFL for cabin loading’, battery swapping by monorail crane, using 10-tonne electrical tug instead of 20-tonne, amongst others. Besides, the airline converted old […]
Jet shares continue to rise; monitoring committee for airline in place
Continuing on its upward trajectory, shares of grounded Jet Airways gained nearly five per cent to touch its upper price limit on Tuesday. Since National Company Law Tribunal (NCLT) approved Jalan Kalrock Consortium’s resolution plan for the airline on June 22, the scrip has been on the rise. On Tuesday, it closed at Rs 126.80 […]
Devas joins Cairn Energy in trying to seize Air India’s overseas assets
Devas Multimedia Pvt., a company seeking over $1.2 billion it won in international arbitration from India, has joined Cairn Energy Plc in seeking to seize Air India Ltd.’s assets abroad. Calling the flagship airline an “alter ego” of the Indian state and therefore liable for the sovereign’s debts, Devas filed a petition in New York […]