Independent power producers have urged the Reserve Bank of India (RBI) to extend the last date for finalising resolution plans for defaulting projects to November 16 from August 27, as the central bank itself delayed releasing the list of authorised credit rating agencies, an indispensable part of the process.
Dilip Shanghvi-promoted Sun Petrochemicals Pvt. Ltd has bid for the assets of debt-ridden Assam Co. India Ltd (ACIL), two people aware of the development said.
Reliance Industries has declared force majeure on gasoline exports from its Jamnagar site, four people familiar with the matter said on Wednesday, causing the profit margin from producing the fuel to jump to its highest since September.
GAIL (India) Limited has awarded the first contract for purchase of 108 km 24-inch diameter line pipes under the Barauni-Guwahati segment of the Jagdishpur-Haldia and Bokaro-Dhamra Natural Gas Pipeline (JHBDPL) project.
Reliance Industries and its partner BP plc of UK have spent over Rs 7,000 crore in prolonging output from the flagging D1 and D3 gas fields in the Bay of Bengal as they prepare new fields that will start production in mid-2020, sources in the consortium said.
Adani Green Energy Ltd (AGEL) today said a tender for setting up solar power generation projects of 300 Megawatt capacity has been annulled.
Mr. Akshay Kumar Singh has joined as Director (Pipelines) of Indian Oil Corporation (IndianOil), the country’s largest commercial enterprise and the top-ranked Indian corporate in Fortune’s ‘Global 500’ listing.
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.
Bids for Bhushan Power & Steel Ltd (BPSL) may top Rs 21,000 crore as JSW Steel, Tata Steel and Liberty House of the UK are all set to make an aggressive pitch to acquire the company under the bankruptcy process.