Cairn India Ltd, the petroleum arm of London-headquartered Vedanta Resources Plc, has received a tax notice of Rs.20,495 crore from the Income Tax department for failing to deduct withholding tax on alleged capital gains by its erstwhile promoter, Cairn UK Holdings Ltd (CUHL), a subsidiary of Edinburgh-based Cairn Energy Plc.
Tag: Petroleum
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Reliance beats IOC in race to supply diesel to Railways
Public sector oil retailer Indian Oil Corporation has lost to Reliance Industries Ltd the contract for supplying diesel to the Indian Railways.
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India seeks to increase natural gas production India´s
Petroleum Ministry has forecast an estimated 75 per cent increase in natural gas production over the next five years.
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Gulf Petro acquires Shell´s Guj plant
The UAE-based oil company Gulf Petrochem has acquired the Royal Dutch Shell´s bitumen plant in Gujarat to meet the increasing demand for road construction products in West and North India.
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Landmark initiatives for energy efficiency
Dharmendra Pradhan, Union Minister of State for Petroleum and Natural Gas has launched three landmark initiatives for energy efficiency.
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ChPT to handle met coke
Chennai Port Trust (ChPT) plans to handle metallurgical coke and petroleum coke to make up for the loss of dusty cargo like coal and iron ore. The new cargo will be handled on a trial basis for six months,
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Exploitation of CBM
The Minister of State (I/C) in the Ministry of Petroleum & Natural Gas, Dharmendra Pradhan said that in the Budget 2014-15 it is proposed to accelerate production and exploitation of coal bed methane (CBM) reserves.
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New oil & gas exploration norms
The Minister of State (I/C) in the Ministry of Petroleum & Natural Gas, Dharmendra Pradhan, said that to increase domestic exploration, the government has taken several policy measures such as New Exploration Licensing Policy,
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Middle Easts largest smart solar project completed
The largest smart solar plant in the Middle East, having a capacity to deliver 8,000 MWh of clean renewable energy, has been successfully installed in Bahrain.Petra Solar, a subsidiary of Petra Systems
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Key project cost overruns at Rs1 lakh cr
Delays in key Central sector projects have led to steep cost over-runs, which have been pegged at Rs 1 lakh crore, according to ASSOCHAM's estimates. The report said, till March 2013, the cost over-runs had been worked out at Rs 94,800 crore in about 285 central projects.