The beleaguered Rs 4,700-crore Nagarjuna Oil refinery project at Cuddalore in Tamil Nadu has entered the liquidation process under the Insolvency and Bankruptcy Code (IBC) after the 270-day deadline, offered by National Company Law Tribunal’s Chennai bench to identify a successful bidder, ended on Friday.
Pune The price gap between petrol and diesel has been steadily narrowing over the years, more so in the recent past. Diesel prices have begun to jump sharply since the turn of the year. On January 1, 2018, the retail price of diesel in Pune was approximately Rs 62.36/ litre. Petrol price increase, in comparison, has been more moderate. On Friday, the retail price of petrol was Rs 81.80/litre, while diesel was selling at Rs 68.37/litre.
The Gas Authority of India Limited (GAIL) will shortly launch piped natural gas (PNG) for houses and compressed natural gas (CNG) for transport sector in Patna. The project is coming up as part of the Jagdishpur-Haldia-Bokaro-Dhamra pipeline under Pradhan Mantri Urja Ganga Yojana, which will connect the eastern and north-eastern states to the national gas grid, said GAIL public relations executive Jyoti Kumar on Friday.
India’s overall fuel demand grew at a robust 5.30 per cent to approximately 205 Million Tonne (MT) for the full financial year 2017-2018, as compared to 195 MT recorded in the previous financial year of 2016-2017, according to the latest data published by Oil ministry’s statistical arm.
In a bid to promote Pradhan Mantri Ujwala Yojana (PMUY) scheme, Union Petroleum Minister Dharmendra Pradhan on Friday announced free gas connections for Dalits and every other backward class in Bihar.
Formerly sceptical investors are buying back into oil majors in the hope that upcoming results will mark a turning point for energy stocks which have failed to keep pace with a surge in crude prices.
Energy market professionals estimate there is a 40 percent chance of the U.S. economy entering recession before the end of next year, rising to a little over 50 percent before the end of 2020.
Members of a voluntary organisation have demanded the scrapping of the Regional Plan (RP) 2021 and all outline development plans (ODP), and have asked for the preparation of a new RP 2031 in conformity with the people’s participation.
The BSES discoms in the national capital will collaborate with policy research organisation TERI to make efforts to bring down the city’s power demand and raise awareness among around 90,000 schoolchildren, said a spokesperson for the company.
A failure in the power system could have led to the Indian Space Research Organization (Isro) losing contact with the recently launched GSAT-6A communication satellite, a senior official of the Vikram Sarabhai Space Centre (VSSC) said on Wednesday.