BP Plc has written down the value of its investment in eastern offshore KG-D6 block by $830 million, following a lower-than-expected gas price hike.
Author: admin (Infratructure Today)
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Welspun makes Green Energy Commitment of 11,001 MW
Welspun Renewables has pledged to set up mega 11 GW solar and wind projects across the country. The 11,001 MW capacity will be developed as 8,660 MW of solar and 2,341 MW of wind power projects.
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Govt okays Rs.5,085 crore in oil subsidy
The government has sanctioned Rs 5,085 crore in oil subsidy for the December quarter, less than one-third of the revenue lost on LPG and kerosene sales. A total of Rs 15,981 crore in revenue was lost by fuel retailers on selling public distribution systems (PDS) kerosene and domestic LPG at government-controlled rates in October-December.
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RIL challenges Govt´s decision on gas discovery
Reliance Industries has slapped an arbitration notice challenging the Oil Ministry´s decision to take away 814 square km (sq km) of its eastern offshore KG-D6 area that contained five gas discoveries.
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´Ease rules for TAPI project´
With the construction of the $10 billion TAPI pipeline stuck for want of a credible operator, India has pressed Turkmenistan to relax its domestic law to help get an international firm for building the project.
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Centre seeks more share in extended production contract
The Oil Ministry proposes to raise the government´s share by 5 per cent and insist on explorers accepting Delhi as the seat of any future arbitration, irrespective of any other provision in the agreement, for granting extension to production sharing contracts for small and marginal fields.
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CLP awards 100 MW MP project to Gamesa
CLP India, the largest wind power producer in India and Gamesa, a global technology leader in wind energy, have announced the signing of a turnkey project to construct a 100 MW wind farm in Chandgarh, Madhya Pradesh
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Tata Power SED to invest Rs.500 crore
Tata Power´s defence engineering unit, Tata Power Strategic Engineering Division (SED), is investing around Rs 500 crore in Vemagal, Kolar district, Karnataka. It is planning to set up a manufacturing plant dedicated to the defence sector. The new plant, which is expected to come up in 50 acres of land, will be the company´s largest manufacturing unit set-up in the country.´
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Coal India Q3 profit down 16.2% to Rs.3,262.49 crore
Coal India Ltd´s net profit in the quarter ended 31 December declined 16.2 per cent to Rs 3,262.49 crore compared with the year-ago period as the national miner sold less coal through electronic auctions in order to meet domestic power sector demand as directed by the Coal Ministry.
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Power Grid Q3 profit at Rs. 1,229 crore
Power Grid Corporation of India Limited (Power Grid) has posted a net profit of Rs 1,229 crore for the third quarter of FY 2014-15 (October-December, 2014), an increase of 18 per cent against Rs 1,042 crore reported during the corresponding quarter of last financial year.