The Government is considering bringing natural gas under the Goods and Services Tax said Tarun Kapoor, Secretary, Ministry of Petroleum and Natural Gas. Commenting on the petroleum products that will be brought under GST, Kapoor said, “The first product which we are targeting is gas so if that happens that would be a good beginning […]
Category: Business Line
Business Line
Blow out at Oil India’s Baghjan Oilfield in Assam
Oil India Limited (OIL) has reported a blow out during work over operations at Baghjan Oilfield in Tinsukia district, Assam. The incident occurred at a producing well called Baghjan 5 on Tuesday morning. A blowout means that there has been an uncontrolled release of crude oil and/or natural gas from an oil well or gas […]
L&T dispatches critical reactors, coke drums, sub-assemblies of nuclear fusion reactors to clients
The heavy engineering arm of Larsen & Toubro (L&T) has dispatched critical reactors, coke drums and sub-assemblies of nuclear fusion reactor to their global clients during the lockdown period in India. During the lockdown period, a final consignment of 4 (out of total package of 16) ARDS Reactors for refinery modernization project for clean, environment […]
Ola Electric acquires Etergo BV, a Netherlands-based electric scooter OEM
Ola Electric Mobility Pvt Ltd announced the acquisition of Etergo BV, an electric scooter OEM based out of Amsterdam. With this acquisition, Ola Electric plans to leverage Etergo’s design and engineering capabilities to build its smart electric two-wheeler for international and national markets, with the India launch planned for 2021. Ola did not disclose financial […]
EV manufacturer Gemopai to launch new mini-scooter ‘Miso’ in India
Auto manufacturer Gemopai is planning to launch its new electric vehicle- a mini scooter ‘Miso’ in India in June. The electric scooter manufacturer on Tuesday announced its plan to launch its new mini scooter to enable better mobility amid Covid-19. “Miso will be positioned as India’s first social distancing mini scooter and will be available […]
IndiGrid InvIT expects to continue growth trajectory in FY21
IndiGrid Infrastructure Investment Trust (InvIT), focussed on the power sector, has maintained a positive outlook, and expects to continue its growth trajectory in FY21. IndiGrid InvIT is backed by Sterlite Power Grid Ventures, which is majority owned by KKR and was established in 2016 to own inter-State power transmission assets in India. “The slew of […]
GE Power India appoints Mahesh Palashikar as Chairman of the Board
GE Power India Limited (GEPIL) has appointed Mahesh Palashikar as the Chairman of the company’s Board. Palashikar succeeds Vishal K Wanchoo who retires on June 1, 2020. Palashikar will be taking this responsibility in addition to his current role as the President and CEO of GE South Asia. GEPIL also appointed Vijay Sharma, Chief Financial […]
If plans fructify, NHPC will become world’s largest floating solar company
So big are its ambitions that if plans fructify, NHPC Ltd will become the world’s biggest floating solar power company and will hold the record for a very long time. The public sector power major proposes to build 2,850 MW of floating solar power plants on various reservoirs of the country. Only last month did […]
NTPC eyes majority stake in ADAG’s Delhi power utilities
NTPC Ltd wants to buy out the 51 per cent stake of Reliance Infrastructure Ltd from Delhi’s power distribution companies. In a letter to the Delhi Electricity Regulatory Commission (DERC), NTPC expressed its interest to enter the power distribution sector and acquire the distribution assets. NTPC is the first public sector undertaking to join the […]
SpiceJet operates maiden freighter flights to Indonesia, Nepal
SpiceJet has added Indonesia and Nepal to its international cargo network by operating maiden flights carrying supplies to Jakarta in Indonesia and essential medical supplies to Kathmandu in Nepal. The flights were operated from Mumbai. SpiceJet deployed Boeing 737 freighter aircraft for both the assignments, the airline said in a statement. SpiceJet is operating 34 […]
HAL’s light combat aircraft Tejas joins IAF stable
HAL-produced final operational clearance (FOC) standard LCA Tejas has been inducted into IAF Squadron ‘The Flying Bullets’. The fighter aircraft was inducted at a function at Sulur (Tamil Nadu) on Wednesday, marking another milestone for HAL. “We are proud to deliver a much lethal aircraft than the IOC block. Apart from all the capabilities of […]
Oil falls on demand concerns, US-China tensions
Oil prices fell on Wednesday on concerns over how quickly fuel demand will recover even as lockdowns ease in many countries with falling coronavirus cases, with US-China tensions adding to pressure. Brent crude futures fell 40 cents, or 0.7 per cent, to $35.77 by 0009 GMT, after falling 1.8 per cent on Tuesday. US West […]