BUSINESS
Government closely monitoring global energy markets, potential supply disruptions: MoS Rameswar Teli
Commenting on the retail petrol and diesel prices, the minister said that they were market-driven and linked to the international products prices and the decision on prices is taken by oil marketing companies.
BUSINESS
Power Ministry to ease 22 compliance-related issues in 1st phase of Ease of Doing Business action plan
The Ministry of Power has eased compliance norms related to seventy-nine items that were affecting industry and consumers since 2021.
BUSINESS
Ministry to declare discom ratings based on stricter norms soon: Power Minister RK Singh
The rating to the discoms will be similar to corporate ratings given to the borrower, and will indicate their ability to service debt.
BUSINESS
National Hydrogen Mission policy’s second part under consideration by expenditure finance committee: Power Minister RK Singh
The Ministry of Power notified the first part of the National Hydrogen Mission policy on green hydrogen and green ammonia on February 17, and had said that a second part will follow soon.
BUSINESS
Indian Oil, Adani Ports sign pact for crude oil capacity at Mundra Port
The agreement between IOCL and Adani Group follows the investment decision by the board of IOCL in December 2021.
BUSINESS
L&T-SuFin can be a 'multi-million dollar' business: L&T Executive
L&T SuFin has partnered with banks and non-banking financial companies that will offer financing facilities to buyers.
BUSINESS
Alstom cancels order bagged from MMRDA for supply of coaches for Mumbai Metro 4
MMRDA says two metro lines to start operations soon. Alstom said that cancelling the coach order for Mumbai Metro 4 will not have an impact on its ongoing and future projects.
BUSINESS
SEBI not satisfied with PTC India Financial action report, bars company from holding board meet
This is the second time the regulator has denied the exemption to PFS since all three of its independent directors submitted their resignation citing concerns over lapses in governance and compliance on January 19, ahead of a board meeting that was scheduled for January 22.
BUSINESS
OPEC+ leaves output increase plan unchanged; price volatility due to geopolitical reasons, not fundamental factors
India is closely monitoring the global energy market and has said that it will release some amount of crude from its strategic petroleum reserves if needed to boost supply and ensure price stability.
BUSINESS
Nayara Energy says making steady progress in India expansion plan despite BP’s exit from Rosneft
Rosneft, along with a investment consortium comprising global commodity trading firm Trafigura and UCP Investment Group acquired the downstream and petrochemicals company in August 2017.
BUSINESS
Mumbai power outage: Maharashtra keen Tata Power extends life of Trombay unit as blame game continues
Strap: Mumbai’s load has remained low at around 2,500 MW due to the changes in activity and disruption caused by the pandemic, but is expected to go up to 4,000 MW by 2025.
BUSINESS
Ukraine conflict | Russia’s Rosatom doesn't foresee any disruptions in Kudankulam nuclear power plant execution
The project has been marred by controversies that led to delays and cost escalation.
BUSINESS
Fuel price freeze may go soon as crude surges past $118/bbl. Can government cushion consumers from hike impact?
Petrol pump dealers believe that a tax cut by Centre and states may be the only way to offer some relief to consumers
BUSINESS
India monitoring energy market, will release crude from strategic reserves if needed
A government official told Moneycontrol that the situation is being monitored to assess when and how much crude oil should be released
BUSINESS
If crude continues to rise, we have to align petrol, diesel prices to international rates: HPCL chairman
Oil marketing companies can take a longer view of prices and link them to international rates over time so that there is insulation against day-to-day price volatility, HPCL chairman Surana said.
BUSINESS
India will have 20-30 new energy, tech companies which will grow as big as RIL in 10-20 years: Mukesh Ambani
Mukesh Ambani said that India can emerge as an export hub for green energy, driven by three factors– entrepreneurial spirit, proactive and forward-looking policy support and action from the government, and assured financing options.
BUSINESS
Keeping eye on crude prices to take call on likely duty cut on fuel: FinMin
The oil marketing companies (OMCs) -- Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation– can change the price of fuel sold at retail pumps every day to align it with the international rates. But they have left the prices unchanged since November now despite the steep increase in crude oil prices, leading to worries that they may soon increase the prices.
BUSINESS
Adani Group in pact with Ballard to manufacture hydrogen fuel cells in India
Adani Enterprises’ newly formed arm Adani New Industries Limited will be housing the group’s green hydrogen initiatives.
BUSINESS
Tata Power, RWE in pact to explore potential for development of offshore wind projects in India
Partnership aims to support the establishment of a competitive and sustainable offshore wind market .
BUSINESS
ABB India says customer enquiries have increased, hopeful of private sector capex revival
The company has followed the global strategy of its parent, the Swedish-Swiss engineering multinational ABB, to move away from projects business to products. This has augured well for cash flows and revenue despite COVID-related disruptions, says Sanjeev Sharma, country head and MD, ABB India Ltd.
BUSINESS
Kalpataru Power Transmission to merge arm JMC Projects with self, swap ratio fixed at 1:4
The board of the two companies approved the merger plan and according to swap ratio, JMC’s shareholders, other than KPTL, will be allotted one share of KPTL against every four shares held by them in JMC.
BUSINESS
Coal India needs urgent increase in prices as subsidiaries gasp for survival: Chairman
No price hikes in the face of rising costs has pressured the firm which has huge receivables pending
BUSINESS
Thumbs up by industry to National Hydrogen Mission policy 1st phase, eyes more concrete steps in round two
BUSINESS
Govt announces step one of National Hydrogen mission to boost green hydrogen, ammonia manufacturing
The ministry has waived power transmission charges for 25 years for these units, allowed them to buy renewable power from exchanges or their own unit and bank unconsumed renewable power for up to 30 days with power distribution companies.
