Ahmedabad/Mumbai: The Ruia-promoted Essar Oil UK, part of the Essar group, has acquired stakes in strategic assets from BP Plc in the UK. The acquisitions include a 11.5% stake in the United Kingdom Oil Pipeline (UKOP), a 45% share in the Kingsbury Terminal and a 100% interest in the Northampton Terminal, Essar Oil UK said.
Category: Live Mint
Live Mint
Mumbai airfares surge as runway to be closed for repairs from tomorrow
NEW DELHI: If you are flying in or out of Mumbai anytime till next month, be ready to shell out more as air fares have shot up and several flights have been cancelled due to extensive runway repair work scheduled to begin tomorrow.
Coal supply by CIL to power sector rises 7.3% to 407 MT
The government Wednesday said coal supply by state-owned CIL to the power sector increased 7.3% to 407 million tonne (MT) in the current fiscal till February 4.
Kerala to slash tax on aviation fuel to 5% for domestic airlines: Minister
THIRUVANANTHAPURAM: The Kerala government will slash the tax on aviation fuel to 5% from the current 28.75 % for domestic airlines, state Finance Minister T M Thomas Isaac said Wednesday.
Jet Airways pilots discuss airline’s current situation
Pilots of crisis-hit Jet Airways this week discussed the current situation and are likely to take a final call next month in case the airline fails to adhere to the timeline set for partial payment of salaries.
Gujarat govt to buy solar power from salt pan workers
AHMEDABAD: In a move that could benefit as many as 3,000 odd Agariyas or salt pan workers in Little Rann of Kutch in Gujarat, the state government has paved way for them to sell solar generated power directly to state power utility during off-season.
GAIL dumps IL&FS as contractor for PM Urja gas pipeline project
NEW DELHI: State-owned gas utility GAIL India Wednesday said it has terminated a ₹270-crore pipe laying contract it had awarded to financially-troubled IL&FS and replaced it with another contractor.
Jet Airways alters penalty framework for cancellation of tickets and other changes
NEW DELHI: Jet Airways on Wednesday stated that a new framework would be implemented from 7 February onward under which if any changes or cancellations are made seven days prior to flight departure, the domestic passenger would attract a smaller penalty compared to the rate after this period.
Why investors cheered despite the sharp drop in HPCL’s profit
Hindustan Petroleum Corp. Ltd (HPCL) reported an 87% drop in its net profit for the December quarter, which the markets welcomed by sending its shares up 4%. What’s going on? The relatively small profit of ₹248 crore, it turns out, was far better than the Street’s estimate of a small loss.
Essar acquires stakes in BP’s oil terminals, pipeline to expand in UK
Essar Oil UK, part of the Ruias’ Essar Group, on Wednesday said it has acquired stakes in two terminals and one pipeline from BP Plc to expand its business in the UK.
Actis plans new firm for renewable assets
Private equity fund Actis LLP plans to set up a new firm to house its operational renewable energy assets in India, attracted by the nation’s growing green economy.
BHEL Q3 profit surges 25% but misses estimates
New Delhi: State-run power plant equipment manufacturer Bharat Heavy Electricals Ltd posted a 25.3% rise in third-quarter profit on Tuesday but missed analysts’ estimates. Net profit came in at ₹192 crore ($26.78 million), compared with ₹153 crore a year ago, the company said.