India’s crude oil import bill is likely to jump by about $26 billion in 2018-19 as rupee dropping to a record low has made buying of oil from overseas costlier, government officials said today.
Recalling years of economic struggle post-statehood in 1987, with lingering memories of war with China in 1962, Arunachal Pradesh Chief Minister Pema Khandu on Wednesday stressed the state’s hydropower potential to transform it into a progressive state of the country.
Adani Green Energy Ltd (AGEL) today said a tender for setting up solar power generation projects of 300 Megawatt capacity has been annulled.
The government may sell stake in six state-run companies, including NTPC, MMTC, BHEL and Coal India. A report by ETNow said that government readies divestment plan from September-March period. It may divest 3 per cent stake in NTPC and 15 per cent stake in MMTC.
Billionaire Gautam Adani’s group has bagged licences to retail gas in 21 cities in the latest city gas distribution bid round that saw state-owned Bharat Petroleum Corp Ltd’s unit and Torrent Gas emerging as the other big winners.
Indian Oil Corp (IOC), the nation’s largest oil company, plans to invest Rs 20,000 crore in city gas distribution projects in next 5-8 years as it bets big on gas business to complement its traditional oil refining and marketing business, its chairman Sanjiv Singh said today.
Private equity firm KKR & Co said it will acquire a 60 per cent stake in India’s Ramky Enviro Engineers Ltd (REEL) for $530 million, adding it was one of India’s largest buyouts.
Coal India Ltd, the world’s biggest miner, has pushed back its ambitious 1 billion tonne production target by at least two years owing to the existing ground realities, a top official of the company has said.
Indian Oil Corporation (IOC), the country’s largest fuel retailer, today reported a 50 per cent jump in consolidated net profit at Rs 7,092 crore for the first quarter ended June 2018 on the back of improved refining margins.
The Competition Commission has dismissed a complaint alleging unfair business practices against wind turbine manufacturer Vestas Wind Technology India with regard to service conditions of the equipments supplied by the firm.