The ministry of petroleum and natural gas on Sunday launched the third bidding round under the Open Acreage Licensing Policy (OALP), offering 23 hydrocarbon blocks covering over 31,000 sq km for exploration.
Category: The Financial Express
The Financial Express
India sees higher domestic output and import cuts as 23 oil blocks goes up for bidding
India on Sunday offered 23 oil and gas and coal-bed methane blocks for bidding in the third round of Open Acreage Licensing Policy (OLAP) as it looks to more than double the area under exploration to raise domestic output and cut imports.
Fall of ‘fugitive batman’ puts global oil trading on the spot
To his friends, Rodrigo Berkowitz lived within his means in a rented house in the suburbs of Houston.
Oil prices: Doubters mount a comeback as rally stalls on global worries
Hedge funds reversed course on oil just in time, plowing back into bearish bets as crude skidded into a wall of economic worries. In a shift from four weeks of retreat, short-sellers boosted by 28 percent their wagers that Brent prices would fall in the week ended Feb. 5, according to data released Friday.
Cube Highways front-runner to buy Sadbhav projects
Sadbhav Engineering (SEL) is in the final stages of discussions to sell a chunk of its roads portfolio in its subsidiary Sadbhav Infrastructure Project (SIPL), to Cube Highways.
Indian Oil Corporation tops bidders’ list for city gas licenses followed by Adani, HPCL
State-owned Indian Oil Corp (IOC) has emerged as the biggest bidder for city gas licences in the 10th bid round that also saw Adani Group, Hindustan Petroleum Corp Ltd (HPCL) and Indraprastha Gas Ltd as the other prominent bidders, according to oil regulator PNGRB.
Thermal power projects with investments worth Rs 2.5 lakh crore facing stress: Report
Investments worth over Rs 2.50 lakh crore in thermal power projects (based on domestic coal, imported coal and gas) are facing stress, and immediate remedial measures are needed to ensure that they are revived in a time-bound manner, as per a report.
Flying allowance non-payment causing stress, has direct implications on flight safety: Air India pilots
Air India Pilot unions wrote to the company on Sunday saying they are yet to receive December’s flying allowance, which consists of around 70 per cent of total salary, and the pilots are working under “stressful conditions” that has “direct implications on flight safety”. Flying allowance is paid to a pilot on the basis of […]
Jet Airways cancels flights due to operational reasons
Crisis-hit Jet Airways Sunday cancelled more than 10 flights due to operational reasons, according to a source. On February 7, the airline said four of its aircraft have been grounded due to non-payment of lease rentals.
Buying on IndiGo’s international flight in rupees reality soon? Airline approaches RBI for permission
Onboard sales in IndiGo’s international flights could soon be done in Indian rupees if Reserve Bank of India (RBI) allows relaxation in foreign exchange rules, news agency PTI reported.
Hope floats: Jet Airways lenders may have agreed to convert Rs 4,000 cr debt
Lenders to financially struggling Jet Airways are understood to have agreed to convert Rs 4,000 crore — nearly half of the airline’s gross debt of Rs 8,411 crore (as on September 30 2018) — to equity at Rs 1,sources close to the development told FE. The lenders will get equity equivalent to this swap in […]
REC Q3 profit rises 16% to Rs 1,275 crore
Rural Electrification Corporation (REC) recorded 16.2% year-on-year (y-o-y) rise in profit for the quarter ended December 31 to Rs 1,274.6 crore on a standalone basis on the back of higher interest income and gains from foreign currency fluctuations.