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Odisha faces fund challenge for rural power plans
January 2016
As the state gears up to meet additional power demand of 3,500 MW for rural electrification by the end of 12th Plan, it is facing a challenge to raise the `7,500 crore required to develop matching transmission infrastructure.
Govt extends deadline for 2 electronic chip manufacturing units
January 2016
The government has granted extension till April 30, 2016 to two consortia led by Jaiprakash Associates and HSMC Technologies for submitting documents regarding setting up of electronic chip manufacturing plants with a cumulative investment of Rs.63,412 crore.
Oil Ministry refers RIL-ONGC gas dispute to AP Shah committee
January 2016
The Ministry for Petroleum & Natural Gas has referred the American consultant DeGoyler and MacNaughton (D&M) report on the dispute between Reliance Industries Ltd and ONGC to a single member committee under Justice AP Shah.
OPECs El-Badri sees crude prices rising in a year
January 2016
The Organization of Petroleum Exporting Countries (OPEC) expects crude prices to rise in a few months or a year, the secretary general of the oil cartel has said, even as prices continued their slide towards an 11-year low on Tuesday.
Petronet to offer value-added services at Kochi terminal
January 2016
Petronet LNG Ltd (PLL) is betting big on value-added services such as storage and reloading, LNG bunkering for small ships etc, at its underperforming Kochi terminal to shore up revenues. The company is pinning hopes on GUCD (gassing up and cooling down) service for LNG ships, which would turn out to be a money-spinner.
Govt hikes excise duty on petrol, diesel
January 2016
The Government today increased excise duty on petrol by Rs.0.30 per litre and by Rs.1.17 a litre on diesel to make use of slump in oil prices to garner an additional Rs.2,500 crore. Basic excise duty on unbranded petrol has been increased from Rs.7.06 per litre to Rs.7.36 and the same on unbranded diesel from Rs.4.66 to Rs.5.83 per litre. Finance Minister Arun Jaitley said the increase in duty will yield an additional Rs.2,500 crore in revenue during the remainder of the 2015-16 fiscal which ends on March 31, 2016.
Govt to auction 28 oil, gas blocks off Mumbai; 14 in KG basin
January 2016
As many as 28 oil and gas fields out of the 69 small and marginal fields of state-owned firms that the government plans to auction to private players are in Mumbai offshore, Oil Minister Dharmendra Pradhan said.
Subsidies to gas-based power plants flayed
January 2016
CPI (M) politburo member BV.Raghvulu took strong objection to Andra Pradesh's decision to extend subsidies to the tune of Rs.1,200 crores to gas-based private power plants, which had incurred losses owing to non-availability of gas
LNG pipeline project
January 2016
The natural gas pipeline project is back on the track after a prolonged delay. Major hurdles to acquisition of land for laying the pipeline in Kerala are almost over, a senior official of GAIL India, which is executing the job said.
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