In 1957, the Hindustan Ambassador rolled off the lines, making it the first car to be manufactured in India. It was based on the Morris Oxford from the UK, and carried with it a strong, muscular presence. Sixty-five years later, the Indian automobile industry after several evolutions is at the threshold of the future of […]
Day: June 30, 2021
Hope ‘challenging’ oil prices ‘sober’, spoke with Opec: Dharmendra Pradhan
Petroleum Minister Dharmendra Pradhan said on Tuesday he was in discussions with oil-producing countries and expected that crude oil prices would “sober” after the next meeting of the Organization of Petroleum Exporting Countries (OPEC), set to happen on July 1. “Today’s price is a very challenging one. But still, I’m persuading my producer states, and […]
India to set rules to encourage companies shift to green energy
India is making rules that will encourage companies to switch entirely to renewable power, a key step toward decarbonizing the nation’s fossil fuel-dominated economy. The new regulations will allow companies to purchase renewable electricity from state distributors at “green tariffs,” Power Minister Raj Kumar Singh said at the virtual BloombergNEF summit on Tuesday. Hurdles for […]
Suzlon Energy loss narrows to Rs 54 cr in March quarter
Suzlon Energy’s consolidated net loss narrowed to Rs 54.25 crore in the quarter ended March 31, 2021 mainly on the back of higher revenues. The consolidated net loss of the company was at Rs 834.22 crore in the quarter ended March 31, 2020, according to a regulatory filing. Total income rose to Rs 1,141.15 crore […]
RIL, ADNOC to set up chemicals, PVC project in Abu Dhabi
Abu Dhabi National Oil Company (ADNOC) has signed an agreement with Reliance Industries (RIL) to set up “a new world-scale” chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi. Under the terms of the agreement, TA’ZIZ and Reliance will construct an integrated plant, with capacity to produce 940,000 tonnes […]
Oil prices ‘very challenging’, need them to sober a bit: India to OPEC
Ahead of a meeting of oil producers’ cartel OPEC, India on Tuesday said the current oil prices are “very challenging” and rates need to be a “little bit sober” lest they impact a consumption-led recovery of the global economy. Oil Minister Dharmendra Pradhan, who last week again urged OPEC to phase out its production cuts, […]
Reliance signs pact to invest in Abu Dhabi petrochemical hub
Billionaire Mukesh Ambani’s Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta’ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu […]
Electricity (Amendment) Bill likely to be introduced in Monsoon session: Power minister R K Singh
The Electricity (Amendment) Bill 2021, which enables power consumer to choose from multiple service providers as in the case of telecom services, is likely to be introduced and pushed for passage in the Monsoon session of Parliament beginning in July. Participating in the virtual BloombergNEF (BNEF) Summit, Power and Renewable Energy Minister R K Singh […]
Reliance Industries announce mega petrochemical joint venture with ADNOC in UAE
Reliance Industries Limited (RIL NSE 0.73 %) and UAE’s state-run oil giant Abu Dhabi National Oil Company (ADNOC) announced that they will develop a new petrochemical joint venture to produce chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at Ta’ziz Industrial Complex in Ruwais. The new unit will annually produce 1.1 million tonnes of […]
Pune: 80 per cent MSEDCL employees vaccinated
The Maharashtra State Electricity Distribution Company Limited (MSEDCL) has expedited the Covid vaccination of the employees and, so far, vaccinated 79.4 per cent of them, the power distribution body said. This includes 59,799 regular and outsourced employees. Chairman and Managing Director Vijay Singhal said that the remaining 20 per cent of employees will be vaccinated […]
India’s express power delivery surpasses 1 billion units
India’s express electricity delivery real-time market (RTM) has surpassed the one billion unit monthly mark and grown to over 1% share in the country’s total generation within a year of its launch, becoming the preferred crisis management and cost-saving tool in the hands of large power users. Barring the biggest power trader, PTC India, the […]
Kejriwal trying to bring Delhi’s ‘flop power billing model’ to Punjab, says SAD
TRASHING THE pre-poll promise made by Delhi Chief Minister Arvind Kejriwal, the Shiromani Akali Dal (SAD) Tuesday said that “far from giving any relief to the common man, the AAP would even do away with the 200 unit per month free power provided to the poor if elected to power in Punjab”. Talking to newsmen […]