The Budget is likely to continue its pro-poor image with a slew of concessions for agriculture, skilled labour and the rural sector, along with incentivisation to move to a digital payment economy. Employment-related incentives are likely to go up considerably.
Category: Oil & Gas
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HPCL, GAIL sign pact with AP for Rs.40,000-crore petro project
HPCL and GAIL India Ltd have signed a pact with Andhra Government for setting up a Rs 40,000 crore petrochemical plant in the state. The 50:50 joint venture will set up a 1.5 MT ethylene derivatives plant, which will produce a wide range of petrochemical raw materials for the manufacture of detergents, paints and coatings, cosmetics, textiles and adhesives.
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Cairn gets nod for 64 exploratory wells
A committee under the Ministry of Environment, Forests and Climate Change has given the green signal to Cairn India for undertaking drilling works of 64 exploratory and appraisal wells in KG-OSN-2009/3 block in KG basin at Prakasam and Guntur districts of Andhra Pradesh.
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Petroleum sector attracts FDI worth $1.18 billion in last two fiscals
The oil & gas sector has attracted foreign direct investments worth $ 1.18 billion in the past two financial years between April 2014 and March 2016, the government said in its ´achievement report´ for the petroleum sector.
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Oil PSUs plan major investments in Andhra Pradesh
Major oil public sector units are planning to invest over Rs 1.43 lakh crore in Andhra Pradesh in coming years which would create jobs for thousands of people in the state, according to Oil Minister Dharmendra Pradhan.
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GAIL plans to raise Rs.750 cr via bonds
GAIL (India) Ltd is planning to raise Rs 750 crore in bonds via private placement to finance its ongoing projects.
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India signs pact with UAE to boost strategic oil reserves
India has signed a deal with the United Arab Emirates, allowing the Gulf nation to fill the country´s strategic storage facility in southern India.
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HPCL, GAIL sign pact with AP for Rs 40,000 crore petro project
Hindustan Petroleum Corp Ltd (HPCL) and GAIL India Ltd have signed a pact with Andhra Government for setting up a Rs 40,000 crore petrochemical plant in the state.
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GAIL plans to raise Rs 750 crore through bonds issue
GAIL (India) Ltd is planning to raise Rs 750 crore in bonds via private placement to finance its ongoing projects. The company has decided to issue non-convertible bonds of up to Rs 750 crore with an option to double the issue size via private placement in one or more tranches, GAIL said in a statement.
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India signs pact with UAE to boost oil reserves
India has signed a deal with the United Arab Emirates, allowing the Gulf nation to fill the countryÂ’s strategic storage facility in southern India.