The National Consumer Disputes Redressal Commission has dismissed an appeal by Hindustan Petroleum Corporation Ltd (HPCL) against an order by a lower body that imposed heavy damages on the company after faulty fixation of gas-tube led to an explosion at the premises of a customer. HPCL and its gas agency were told to pay Rs […]
Essar group has signed a non-binding Term Sheet with Russian oil and gas major Rosneft to explore the possibility of the Russian company investing in Essar oil with a share of up to 49% of equity, the Indian company said. It also said that OJSC Rosneft Oil Company (‘Rosneft’) will supply Essar Oil will crude […]
Financial Technologies said that the Supreme Court has stayed an earlier order by the Central Electricity Regulatory Commission directing Indian Energy Exchange to transfer its shares in the exchange to a trust. The CERC issued the order on June 26, 2015, directing FTIL (Financial Technologies) to transfer its entire shareholding in the Trust Demat Account […]
GVK Power & Infrastructure Ltd said it has sold its 217 MW (Phase 1) Power Plant situated at Jegurupadu Village, in Rajahmundry in Andhra Pradesh to AP Transco, the Andhra Pradesh power transportation utility, as per an agreement. “GVK Industries Ltd has received a notice from the AP Transco stating that they have exercised their […]
The proposed merger between petroleum producer Cairn India and its parent Vedanta Plc is “likely to be unlikely”, Edelweiss Securities said. Raising the question of minority interest, Edelweiss said the deal does not seem to offer any overt benefits to Cairn India. “From Cairn’s perspective, we fail to understand the benefits of any synergies that […]
Adani group has signed an agreement with the government of Rajasthan to set up a 10,000 MW solar park, which will emerge as the largest such integrated facility in India, a statement on behalf of the group said. The JV will be known as Adani Renewable Energy Park Rajasthan Ltd, will have a 50-50 equity […]
NDTV, one of India’s biggest TV groups, has signed term sheets with unnamed investors under which they would explore the possibility of supporting NDTV’s entry into the ecommerce sector, the company said. “The Company and NDTV Convergence Limited, a subsidiary of the Company, have signed preliminary, non-binding term sheets with certain potential investors for e-commerce […]
India’s LNG imports should more than double to 24 million tonnes per annum by 2020 from 10.7 million tonnes in FY2014, Moody’s investor service said, adding that this will benefit GAIL and Petronet NG the most. “The expected surge in imports of liquefied natural gas (LNG) will benefit the country’s leading LNG importer, Petronet LNG […]
A new study released by international oil company Shell have offered some insights into the ‘superstitions’ and myths held by Indians when it comes to trying to increase the fuel efficiency of their cars. “Some of the beliefs revealed through the study were actually wasting fuel rather than helping to conserve it. It becomes pertinent […]
Petronet LNG Ltd said it is offering value-added-services to enhance the utilization of the Kochi LNG terminal, which has been a big drag on the company’s finances. The 5 million tonnes per annum (mtpa) has been a major headache for the company as various infrastructure bottlenecks have prevented the terminal from raising utilization levels beyond […]
India’s eastern sea coast, which comprises states like Andhra Pradesh, Orissa, West Bengal and Tamil Nadu is more vulnerable to the after-effects of the sea level rise that has been observed in recent years, according to a document with the ministry of earth sciences, India. According to the ministry, the sea level is rising faster […]
BMW Group India introduced the new sub-brand BMW i in India with the launch of the BMW i8, billed as the most progressive sports car, priced at Rs 2.3 crore. On road price would be about Rs 3 crore. The first plug-in hybrid vehicle from the sub-brand BMW i, the BMW i8 is available at […]
Solar Impulse, the first solar-powered aircraft to attempt to fly around the world non-stop, will cross over India in March, said Aditya Birla group, which is supporting the effort from India. “Solar Impulse was built not just to fly around the world without a drop of fuel, but also to carry a message; demonstrating the […]
Bharat Heavy Electricals Limited (BHEL) has achieved one more milestone by successfully commissioning another 270 MW coal based thermal power plant in Maharashtra. The unit was commissioned at RattanIndia Power Limited’s (formerly Indiabulls Power Ltd) upcoming thermal power project located at village Nandgaonpeth in Amravati district of Maharashtra. This is the third 270 MW unit […]
Three experienced solar professionals in India are raising funds to invest in solar projects in India. Three seasoned professionals with over three decades of industry experience, Tanya Singhal, Anil Nayar, and James Abraham have founded SolarArise, which is in the process of raising Rs 200 crore for investments in the solar industry in India. India […]
The deallocation of coal blocks by the Supreme Court will hit metal players harder than most power players, Crisil Research said in a report. Power costs in West Bengal and Punjab could rise, it added. It said power generation companies will be able to pass through increased costs, but not metal companies. Coal is used […]
Deregulation of, or removing price controls from, diesel sales in India is imminent, said Edelweiss Securities in a report after meeting dealers. “We expect benign global oil prices to persist, paving way for de-regulation during Q4CY14,” analyst Jal Irani said in a report on Thursday. “We met the President of Petrol Dealers’ Association, Mumbai, and […]
Power and infrastucture player Lanco plans to sell 3000 MW of assets to raise Rs 5,000 crores cash to reduce its debt, the company said. “Since last one year, we have been working on each of the projects to settle the issues and bring back viability. With all these measures as well as in the […]
Tata Power said it has got its standby power generation in operation to supplement its capacity in Mumbai after a regular unit tripped yesterday. The company said unit no 6, an oil-fired power plant, has been put into generation pending work going on at the fifth unit. “While Unit No.5 restoration work is still under […]
In a rare instance of a public-sector company coming up with a crucial innovation, Bharat Heavy Electricals Limited (BHEL), has designed a new boiler for coal-powered power plants that can help them deal with fluctuations in imported and Indian coal. Indian coal, though much cheaper, is of poor carbon content and cannot be used in […]
