(Reuters) – India’s crude oil imports in March fell by 1.1 per cent from a year earlier to 20.69 million metric tonnes, government data released on Friday showed. Data from the Petroleum Planning and Analysis Cell’s (PPAC) website also showed imports of crude oil products dipped nearly 12 per cent to 3.83 million tonnes on […]
Category: Business Standard
Business Standard
Oil up on geopolitical tensions, gains curbed by fading Fed rate cut hopes
Oil prices edged up slightly on Friday, boosted by worries about geopolitical tensions but still under pressure from U.S. data showing inflation rose moderately in March, dampening hopes the Federal Reserve would cut interest rates soon. Brent crude futures were up 7 cents, or 0.08%, to $89.08 a barrel at 1109 ET (1509 GMT). U.S. […]
India receives oil cargo in Russian SCF tanker after brief halt: Report
A ship controlled by U.S.-sanctioned Russian shipping giant Sovcomflot (SCF) discharged fuel oil at a western Indian port on Friday, two sources familiar with the matter said, indicating a resumption in the use of SCF vessels to supply Moscow’s key market after a brief halt. The SCF Baltica, carrying 90,000 metric tons of fuel oil […]
RIL gets S&P, Fitch thumbs-up as strong earnings keep leverage in check
Reliance Industries Ltd has won a vote of confidence from global rating agencies S&P and Fitch after its robust earnings in the fiscal year ended March 31, 2024, supported its growth aspirations and kept leverage under check. S&P Global Ratings and Fitch Ratings in separate notes spoke of its EBITDA (loosely known as pre-tax profit) […]
Varanasi pilot for deployment of green hydrogen fuel cell vessels on NW-I
Varanasi has been selected as the pilot location for deployment of green hydrogen fuel cell inland vessels on National Waterways-I, aligning with the government’s Harit Nauka guidelines, an official statement said on Friday. Discussions are ongoing with potential players for facilities like bunkering, it added. It was also informed that due to its low emission […]
CESC acquires co building 300 MW solar park in Rajasthan for Rs 3.84 cr
CESC Ltd on Friday said one of its step-down subsidiaries has completed the acquisition of a company that is in the process of implementing a 300-MW solar park in Rajasthan. The acquisition aims at bolstering the renewable energy portfolio of the power utility. In a regulatory filing, CESC said Purvah Green Power has completed the […]
‘At least $12 trn needed for tripling renewable energy capacity by 2030’
At least $12 trillion is required to create new infrastructure over the next six years for tripling global renewable energy capacity by 2030, COP28 President Sultan Al Jaber said on Friday. Addressing the annual Petersberg Climate Dialogue, Al Jaber said the energy transition will not happen without significant investment and a level-up in climate finance. […]
India expects annual power output to grow at fastest in over a decade
India expects power generation to grow 9.3% to 1,900 billion kilowatt hours (kWh) during the fiscal year through March 2025, internal projections by the federal power ministry reviewed by Reuters show, the fastest pace of growth since at least 2011/12. Searing heatwaves and an uptick in economic activity have resulted in India’s electricity generation growing […]
Loved ones await recovery of 2 bodies from Baltimore bridge wreckage
A wooden cross is laden with Miguel Luna’s personal belongings his construction uniform and work boots, a family photo, the flag of his native El Salvador but his body remains missing after the collapse of the Francis Scott Key Bridge. More than a month has passed since six members of a roadwork crew plunged to […]
Deregister Go First aircraft in five days, Delhi High Court tells DGCA
The Delhi High Court on Friday directed the civil aviation regulator to deregister planes leased to Go First within five working days, giving respite to the lessors. This means that the airline will have to give back all 54 aircraft to the lessors if its resolution professional (RP) does not challenge the order or ask […]
Go First: Busy Bee Airways to evaluate position after reviewing court order
With the Delhi High Court allowing lessors to take back 54 planes leased to bankrupt Go First, joint bidder Busy Bee Airways’ Nishant Pitti on Friday said he will consider any necessary adjustments to its proposed offer for the airline after reviewing the court order. Busy Bee Airways, along with SpiceJet chief Ajay Singh, has […]
IndiGo’s wide-body aircraft order augurs well for Indian aviation: CRISIL
Budget carrier IndiGo’s decision to acquire wide-body planes augurs well for the Indian aviation industry as international long-haul routes are comparatively more profitable and will also help in creating an aviation hub in the country, according to rating agency CRISIL. Till January last year, IndiGo operated single-aisle Airbus aircraft fleet and in February 2023, it […]