The Enforcement Directorate (ED) has attached assets worth ₹2.76 crore in the Barmer crude oil theft case. According to the ED, an investigation conducted by it under Prevention of Money Laundering Act revealed that the accused Bhoor Singh Rajpurohit and Gautam Rajpurohit stole large quantity of crude oil from Cairn India Limited.
India’s Accord Group and Oman’s Ministry of Oil and Gas have signed a $3.85 billion deal to build an oil refinery in Sri Lanka, the biggest single pledge of foreign direct investment ever made in the country.
The Ministry of Power has written to the Central and State Electricity Regulatory Commissions to enforce tariff rationalisation for hydropower projects. These measures are expected to bring down tariff for power generated from a new hydropower project, a Power Ministry notification said.
The production target for Coal India (CIL) was fixed at 610 million tonnes for the current fiscal. This target is likely to be missed as coal production during April-February was 527.70 mt.
Most respondents in a CARE Ratings Survey on ‘Economic Perspective for 2019’ feel that the National Democratic Alliance (NDA) government will come back to power in 2019, either with a majority or in the form of a coalition with new allies.
In its last cabinet meeting before the general elections, the Centre cleared a slew of proposals to support stranded thermal power projects.
The State-run Solar Energy Corporation of India (SECI) is likely to conduct a follow-up meeting with solar industry representatives today to discuss the details of its tender for 7.5-GW solar energy projects in Leh and Ladakh region of Jammu & Kashmir.
Adding a new twist to the ongoing sale of stressed power assets, the Uttar Pradesh Electricity Regulatory Commission (UPERC) has taken a view that if a bidder acquires assets at a discount then it must pass on the benefit to customers by reducing power tariffs.
The Cabinet Committee on Economic Affairs said late payment surcharge will be made mandatory for power distribution companies. This is in line with the recommendations of a Group of Ministers (GoM) on issues relating to stressed thermal power projects.
The Centre has signed contracts with winners of blocks awarded under the Discovered Small Fields (DSF) Bid Round-II. Oil and Natural Gas Corporation (ONGC) has bagged five blocks, while Oil India Limited (OIL) has cornered two blocks in this round.