Way back in 2012, the then Comptroller & Auditor General Vinod Rai had estimated that the country had lost Rs 1.86 lakh crore due to the way coal blocks were handed out. The resulting scandal may well have been the single most important reason for the eventual demise of the UPA.
Expert slams new gas pricing norms
Vijay Kelkar, who headed a panel on energy security appointed by the UPA government, has said the new gas pricing mechanism will not attract investments in exploration and criticized the decision to give a premium on price of gas from challenging deep-sea fields saying that it reflected a cost-plus approach.
Govt removes 3 independent directors from ONGC board
The government has removed three independent directors, appointed by the United Progressive Alliance (UPA) government, from the board of State-run petroleum explorer Oil and Natural Gas Corporation (ONGC).
Government cancels auction
The auction of three coal blocks has been cancelled as issues related to certain clearances need to be "revisited", the government has said. "With the approval of competent authority it has been decided to cancel auction as issues concerning prior clearances etc.
Indian Oil may remove four independent directors
State-owned Indian Oil Corp (IOC) will hold its annual shareholders meeting amid speculation that it may seek to remove four independent directors appointed by the previous UPA government.
'Change UMPP bidding norms'
The private power industry has proposed changes in the bidding norms for two Ultra Mega Power Projects (UMPPs) planned to be set up in Odisha and Tamil Nadu.
Surguja project may be back
The proposal to set up a 4000 MW ultra mega power project at Surguja in Chhattisgarh may get a new lease of life. The Centre is likely to work for finding a way to bring this derailed project back on track.
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