The Income Tax Department has ordered coercive action against Cairn Energy of UK, including taking away over Rs 2,000 crore dividend and tax refund, to recover part of the Rs 10,247 crore retrospective tax.
Solar power projects will be exempted from interstate transmission charges till the end of December 2019, making it feasible to compete with thermal power.
The Public Enterprises Selection Board (PESB) has rejected all applicants aspiring to become chairman of Coal IndiaBSE 0.39 %, an unprecedented situation after candidates were shortlisted and interviewed.
The government expects the demand for electricity to pick-up in the next couple of years, which experts believe is critical to revive the power sector saddled with stressed assets.
Union Petroleum Minister Dharmendra Pradhan today said Russian oil giant Rosneft planned to tap the retail fuel market in India in a big way.
India’s largest natural gas field Bassein in the Arabian Sea has seen a remarkable turnaround with the natural decline that had set in at the 28-year old field reversed and output slated to rise by a quarter to a record high in 2018.
Reliance Industries and BP Plc’s $6-billion investment announcement on Thursday was prompted by the rare opportunity to develop their gas fields at rock-bottom costs and sell the output at market rates, putting the spotlight back on the Krishna-Godavari Basin block that once seemed to be fading in the priorities of India’s richest man.
Shrubs spring up around a rusted train engine in southeast Nepal, with carriages propped up on bricks and tall grass growing over abandoned wheels, offering mute testimony to years of neglect suffered by an abandoned railway line.
China is arm-twisting Bangladesh to convert soft loans it offered -during President Xi Jinping’s visit to Dhaka last year -to commercial credit (incurring higher interest rates) with apparently no headway into projects for which the amount was earmarked.
BP wants to be in India, as India emerges as a major market for petroleum products: Narendra Taneja, Energy Expert
BP’s first experience with Reliance Industries was not a very promising one, in fact the first experience was so bad that BP was forced to write down their investment in KG D6 basin, yet BP has come back and they have committed to a lot of capital to this joint venture.