Tata Steel has executed definitive agreements to acquire 74% equity shares of Bhubaneshwar Power from JL Power Ventures for a consideration of Rs255cr.
Reliance Power completed execution of agreements for Phase 1 of the power project in Bangladesh on November 30, 2017.
Petronet LNG Ltd plans to foray into liquefaction of natural gas in India and has initiated talks with Focus Energy Ltd to set up a small liquefaction unit at the latter’s fields in Rajasthan.
Natural prices bounced back after it witnessed a correction of more than 10% in the last 2 weeks. Prices have formed a bullish harami like pattern on daily chart which acts as a trend reversal pattern.
There will be an OPEC deal extension—no matter the public tussling between opposing forces in the industry cartel—if the world’s largest oil producers are really determined to end the supply glut.
Aviations as well as oil marketing stocks were under stress in the current month (November 2017) on account of increase in crude oil prices.
Mercator Petroleum (MPL), a subsidiary of Mercator Ltd, announced that it had initiated preliminary technical discussions with the Director General of Hydrocarbons (‘DGH’) regarding the Field Development Plan for wells Jyoti 1 and 2 in the Cambay Oil block.
Oil India Ltd standalone revenue for the quarter came in at Rs. 2473.2 crore, registering 6.1% yoy increase. This was primarily driven by 12.5% yoy increase in revenues from crude oil segment.
SW Energy announced that the company has bagged a short-term supply order of 200 MW power.
Tata Power Renewable Energy Ltd (TPREL) had acquired Walwhan Renewable Energy Limited (formerly known as Welspun Renewables Energy limited) in September 2016.