Essar Oil Ltd has sought the consent of market regulator Securities and Exchange Board of India (Sebi) to extend the deadline for paying its minority shareholders, after its nearly $13-billion acquisition by a consortium led by Russia’s Rosneft PJSC, two people aware of the matter said.
The China-Pakistan Economic Corridor (CPEC) has been attracting a lot of attention lately and for all the wrong reasons. Pakistan has reportedly rejected China’s offer of assistance for the $14 billion Diamer-Bhasha Dam, asking Beijing to take the project out of the $60 billion CPEC so that Pakistan can build the dam on its own.
Solar auctions are having their intended effect: Prices for developers are tumbling across Asia. While that’s good news for consumers, solar companies might have to reconsider the economics of projects already under way.
American private equity major Warburg Pincus-backed rooftop solar company CleanMax Solar has raised $15 million in equity capital from World Bank arm International Finance Corp. (IFC), said a senior executive of the firm.
State-run Oil and Natural Gas Corp. Ltd (ONGC) may take legal action if the Directorate General of Hydrocarbons’ (DGH) plan to sell 60% stake in the company’s hydrocarbon fields is taken forward, two company officials said.
The clash between the Organization of Petroleum Exporting Countries (Opec) and America’s oil industry is reaching a day of reckoning.
State-run NTPC Ltd has been facing problems at several of its power projects due to issues related to equipment supplied by Bharat Heavy Electricals Ltd (Bhel), said several people aware of the developments.
Companies are quick to pledge efforts to push renewable energy but found wanting when it comes to making investments in clean energy initiatives under their corporate social responsibility (CSR) heads.
Despite the steady growth in coal-based electricity generation, the fortunes of the producers haven’t seen a noticeable improvement.
Some cement producers are shifting back to coal from petroleum coke (petcoke) to meet their fuel requirements following the Supreme Court’s recent ban on petcoke use.