Exxon Mobil on Monday floated a proposal for a public-private carbon storage project that would collect planet-warming carbon dioxide emissions from US petrochemical plants and bury them deep under the Gulf of Mexico. The plan would require “$100 billion or more” from companies and government agencies to store 50 million metric tons of CO2 by […]
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Maharashtra to unveil non-conventional energy policy soon
The Maharashtra government is contemplating floating its own Non-Conventional Energy Policy soon. The state will make an investment of Rs 1 lakh crore by 2025 and it intends to generate non-conventional energy such as solar, wind, hydroelectric, waste-to-energy, and new technology-based among others, to the tune of 17,385 mega-watts. “We are encouraging the use of […]
Flying out of Bengaluru? Here is a look at quarantine rules
Air passengers arriving and departing from the Kempegowda International Airport (KIA) here are often at their wit’s end, figuring out Covid-19 mandated rules in Karnataka and the states they are heading to. Here is a look at the rules (updated until April 16) on negative RT-PCR certificates, home quarantine and other requirements here and in […]
Scores test positive for Covid-19 on India flight to Hong Kong
At least 49 passengers on a flight from New Delhi to Hong Kong have tested positive for coronavirus, authorities said, as the financial hub introduced an emergency ban on all flights from India as it battles a new wave of cases. All of the passengers who tested positive flew into Hong Kong on a flight […]
Fire breakes out at Maharashtra’s Solapur airport
Fire broke out in airport campus of Maharashtra’s Solapur during wee hours of April 20. Fire engulfed a stretch of grass near the runway of the airport. Four fire tenders arrived at the site to douse off the fire. Reason behind the fire is ascertain.
Airlines face $47.7 billion loss in 2021, worse than earlier forecast: IATA
Airlines are forecast to lose $47.7 billion this year, worse than previously forecast, a global industry group said Wednesday, as the sector struggles to recover from the coronavirus pandemic. On a brighter note, the International Air Transport Association slightly raised its forecast for global air passenger traffic, saying it would reach 43 per cent of […]
Boeing CFO Greg Smith set to retire in July
Boeing Co said on Tuesday Chief Financial Officer Greg Smith will retire in July. The US planemaker also said the maximum retirement age for Chief Executive David Calhoun has been extended to 70 years from 65 years. Investors will be eager for more details and color on the company’s board and executive leadership during its […]
Govt approves subsidy policy for urea produced through coal gasification
The Union Cabinet on Tuesday approved an exclusive subsidy policy for urea produced through coal gasification by Talcher Fertilizers Limited. It would assist in reducing urea imports to the tune of 12.7 lakh tonne per annum leading to savings in foreign exchange, Commerce Minister Piyush Goyal told reporters after the Cabinet meeting. The estimated cost […]
Asian shares, oil prices hit by coronavirus risks to growth outlook
Asian shares and U.S. stock futures fell on Wednesday as concern about a resurgence of coronavirus cases in some countries cast doubt on the strength of global growth and demand for crude oil. European stocks looked set for a more promising start, however, with Euro Stoxx 50 futures up 0.28%, Germany’s DAX futures up 0.25% […]
Oil prices fall as India’s Covid-19 surge dents fuel demand outlook
Oil prices fell for a second day on Wednesday, heading for their biggest daily drop in more than two weeks and weighed down by concerns that surging COVID-19 cases in India will drive down fuel demand in the world’s third-biggest oil importer. Brent crude futures for June declined $1.14, or 1.7%, to $65.43 a barrel […]
Oil falls for second day as India’s Covid-19 surge to dent fuel demand
MELBOURNE (Reuters) – Oil prices fell for a second day on Wednesday on concerns that soaring COVID-19 cases in India will drive down fuel demand in the world’s third biggest oil importer. Brent crude futures for June fell 52 cents, or 0.8%, to $66.05 a barrel at 0157 GMT, after dropping 48 cents on Tuesday. […]
Covid shaves off a 5th of ONGC capex in FY21; downstream firms exceed target
Oil and gas producer ONGC spent about one-fifth less than its budget Capex in 2020-21 fiscal after COVID-19 related restrictions delayed projects but fuel marketers such as IOC exceeded targeted capital spending, a government report showed. Oil and Natural Gas Corporation (ONGC) had budgeted Rs 32,502 crore of capital spending in the fiscal from April […]