A joint venture (JV) company of ONGC Videsh (OVL) and Oil India (OIL) decided to acquire 10 per cent stake of Videocon Mauritius Energy in Videocon Mozambique Rovuma 1 gas field for $2.475 billion.
Tag: India
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State-run firms eye Brazilian field
State-run oil and gas companies in India plan to pool their resources to bid for the Libra field, located 180 km off the coast of Rio de Janeiro in the Santos basin, Brazil.
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LNG re-gassification capacity
Union Oil Minister M Veerappa Moily informed that India may have LNG re-gasification capacity of over 50 million tonne per annum (mtpa) by 2016-17 with a supply of 198 million standard cubic metre per day. Currently, India has 18.6 mt of re-gasification capacity - 10 mt terminal at Dahej and 3.6 mt plant at Hazira in Gujarat
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J&K pipeline project cleared
Jammu and Kashmir (J&K) Governor NN Vohra signed the Ordinance which would allow state government to acquire land for the Rs 880 crore Bhatinda-Srinagar gas pipeline project.
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Singareni Collieries mull Rs 103 bn investment
In order to ramp-up output, open new mines and also set up a new power plant, Singareni Collieries Co plans to spend Rs 10,360 crore during 2012-17. According to some reports the company invested Rs 3,220 crore (of the total investment) in 2012-13.
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CERC to restructure coal index
The Central Electricity Regulatory Commission (CERC) proposed to restructure the coal price index followed in the country for making payments by power producers to coal imports. Currently, for payments for imported coal, CERC uses a composite index that considers Australian and South African coal.
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Govt to announce more economic reforms
Union Finance Minister informed that the government would unleash more economic reforms in the coming days in order to rev up the investor sentiment and spur growth momentum.
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Regulatory fund for coal
The Central Government would set up a fund called "The Coal Regulatory Authority Fund" to credit all grants, fee and charges received by the authority. After passing of the Coal Regulatory Authority Bill, 2013, details would be worked out and submitted to the
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Blue Dart CFO wins award
Yogesh Dhingra, Chief Operating Officer and Finance Director, Blue Dart Express, was awarded the '4th Business Today-Yes Bank CFO Award'. Yogesh won this award in the category for Best CFO of an MNC (mid-sized companies).
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RBI keeps CRR unchanged
A resolute Reserve Bank of India (RBI) refrained from reducing policy repo rate in its mid-quarter review of monetary policy on 17 June 2013 citing the persistently high food inflation even though general inflation has declined.