India's export of iron ore in 2012-13 is estimated to have declined 69 per cent to 18 million tonne (mn t) from 61.8 mn t in the previous year. Data from the Federation of Indian Mineral Industries (FIMI) shows the country exported 16.3 mn t of the steel-making raw material between April 2012 and J
Author: admin (Infratructure Today)
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Posco set to get land for steel project
According to a status paper prepared by the Odisha government, the Indian arm of South Korean steel maker Posco is set to get 1,554 acre land for its proposes steel plant in Jagatsinghpur district. The Indian arm of the South Korean firm plans to set up a 12-mn tpa greenfield steel facility near Paradip at an in
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Govt asks NTPC to focus less on gas-based projects
In the context of the severe shortage of natural gas in the country, NTPC has been asked by the union power ministry to focus less on adding gas-based power generation capacity. The state-run power producer has a current gas-based capacity of above 4,000 mw. The country faces acute shortage of natural gas because of the sharp fall in the production of the fuel from the KG-D6 block of Reliance Industries. Paucity of gas
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Govt plans to liberalise pricing regime in oil and gas sector
Union Finance Minister P Chidambaram informed foreign investors that the union government plans to liberalise pricing regime in the oil and gas sector in order to attract more investment into the sector. The government is considering a cabinet note on how to move from a production sharing model to revenue sharing model for oil and gas explored and excavated by com
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Net profit of RIL rises 6% in FY13
The standalone net profit of Reliance Industries (RIL) rose 6 percent in 2012-13 on a year-on-year (y-o-y) basis to Rs 21,003 crore, while its revenue rose 9.2 percent to Rs 3.71 trillion. The company attributed the growth in earnings largely to strong and improved refining margins during the year
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Under-recoveries of PSU OMCs may decline
Under-recoveries of state-run oil marketing companies (OMCs) may decline owing to the fall in the price of crude oil in the international market, ratings agency Crisil said. Under-recovery refers to the difference between the purchase price of crude oil and the retail price at which
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RIL submits proposal to relinquish low prospectivity area
Reliance Industries (RIL) has submitted to the government a proposal to relinquish low prospectivity area in its eastern offshore KG-D6 block, the company informed this in an investor presentation. Out of a total of 7,645 sq km in KG-DWN-98/3 or KG-D6 block, only 3,412 square kilometer of area will be retained, the firm
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RIL’s US shale assets produce 11 mmscmd gas
Reliance Industries (RIL) produces 11 million standard cubic metre per day (mmscmd) of natural gas from its shale gas operations in the United States. This is higher than the company's share of 9.6 mmscmd gas from its Krishna Godavari basin (KG D6) in the Bay of Bengal. While gas output from KG Basin is a littl
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Crude oil price falls on weak economic growth prospects
Amid signs of deterioration in the global macroeconomy, investors are reducing their long position in crude oil and this caused the Brent crude oil futures to decline below $100 a barrel. This is for the first time in nine months that the Brent crude oil futures slipped below $100
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GOL Offshore may sell assets to repay loans
Media reports indicate that GOL Offshore may use its unencumbered assets to raise funds for repaying the FCCB, which was due for redemption in October. While the company was to repay the bond holders in October 2012, it sought extension of the repayment period till April, which the bondholders rejected