Some industry watchers expect the price of iron ore in the global market to remain weak in the coming months after rising during Jan-Mar 2013. Iron ore price is expected to be weak because of a combination of anticipated lower steel output and continuous supply growth from the major iron ore miners
Tag: market
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RIL, BP chiefs meet PM to discuss investment plans
Reliance Industries (RIL) Chairman Mukesh Ambani and Bob Dudley, head of global energy firm BP met Prime Minister Manmohan Singh and some government officials recently to discuss their investment plans. The two companies, that are jointly operating the KG D6 gas basin in Andhra Pradesh, asked government to clarify regulatory issues plaguing the oil and gas secto
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Majority of developing countries subsidise fuel products
A study by World Bank shows that about two-thirds of the developing countries (considered in the study) have kept domestic prices of one or more petroleum products below market-clearing levels in the past three years. It adds that with the additional burden sharing by the oil and gas companies included, fuel subsidies amount to about 2
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Fall in global oil supply reduces inventory
According to a recent monthly report of the International Energy Agency (IEA), the fall in the crude oil supply at the global market has reduced inventories in some areas. Global supply of crude oil declined 120 kbpd in March 2013 because of a fall in OPEC output on the back of disruptions in Nigeria, Lib
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Oil marketers to buy ethanol from sugar mills
Oil marketing companies (OMCs) plan to procure ethanol from sugar mills in order to blend it with petrol and in this regard they invited bids for 105 crore litre of ethanol from domestic and global suppliers in the sugar year ending October 2013. Of the 55 crore litre offered by Indian sugar mills, 11 crore litre is finalized as this volume was offered at the lowest
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Traders body seeks clarity on bulk consumers
Ajay Bansal, General Secretary of the Federation of All India Petroleum Traders (FAIPT) said the body requested oil marketing companies (OMCs) to define who are the bulk consumers of diesel. The federation asked OMCs to issue clear written instruction supported by the government notification defining who are bulk consumers
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Deregulation of tariff may attract pvt investment
Media reports indicate that the shipping ministry's move to deregulate tariff at the existing container terminals at major ports may instill confidence in private sector players to invest in port projects. According to the tariff regime introduced in 2005, the Tariff Authority for Major Ports (TAMP) decides the rate that can be charged by the existing terminals at major ports
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State-run OMCs may get notice from CCI
Under section 3 of the Competition Act, the Competition Commission of India (CCI) is probing an allegation that state-run oil marketing companies (OMCs) are indulging in cartelisation on fuel pricing. According to some media reports, these state-run OMCs may get notice from the panel on the allegation. The Petroleum and Natural Gas Regulatory Board earlie
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Axis Bank expects 30% growth in housing credit
Axis Bank has a total home loan portfolio of Rs 30,000 crore and the bank plans to increase this at the rate of 30 per cent every year over the next two years. Thus, the bank aims to have a total home loan portfolio of Rs 50,000 crore by the end of 2014-15. The bank's home loan portfolio occupies a major part of its retail lending assets, which stood at Rs
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Cement firms bet big on govt projects ahead of election
Some industry players and analysts feel that demand for cement may rise in the coming months as government expedite key construction projects ahead of Lok Sabha election. VP Sharma, Chief Operating Officer of Dalmia Cement said the oversupply situation still persists but since elections are next year, a slew of measures by the government may turn