Media reports indicate that Iranian Foreign Minister Ali Akbar Salehi offered production sharing contracts (PSCs) to Indian the oil and gas exploration companies that are investing in the Persian gulf nation. The country's foreign minister is learnt to have made the offer during an India-Iran Joint Commission meeting with
Tag: production
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SAIL’s expansion project faces delay
The Parliamentary Standing Committee on Coal and Steel expressed concern about the lack of progress in the production performance of the Steel Authority of India (SAIL). During each of the last four years, the firm's production remained stagnant around 14.5 mn t of hot metal, 13.6 mn t of crude steel, 12.8 mn t of saleable stee
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NMDC decides ore price based on local mkt condition
According to the pricing policy being followed by NMDC, the prices of various products of the mines of NMDC are kept in sync with the prevailing domestic iron ore prices in other sectors. NMDC is fixing its domestic prices keeping in view prevailing iron ore prices in other sectors and demand supply scenario for its iron ore. Union Minister of Steel, Beni
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JSW Steel-Ispat merger clears legal hurdle
On May 3, 2013, the Bombay High Court cleared the Composite Scheme of Amalgamation and Arrangement between JSW Steel and JSW Ispat Steel, both the firms informed the Bombay Stock Exchange (BSE). Post-merger, promoters of JSW Steel will hold 35.12 per cent in the merged entity, while company's second largest shareholder JFE Steel holding will come down to 14.9
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SAIL undertakes expansion project
The Minister of Steel, Beni Prasad Verma informed that the Steel Authority of India Limited (SAIL) has undertaken modernisation and expansion plan at its five integrated steel plants Bhilai Steel Plant (BSP) at Bhilai, Bokaro Steel Plant (BSL) at Bokaro, Rourkela Steel Plant (RSP) at Rourkela, Durgapur Steel Plant (DSP) at Durgapur and IISCO Steel Plant (ISP) at Burnpur and Spe
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Govt allows 10 per cent hike in output from Joda, Koira circles
Considering the increasing demand for iron ore, the Odisha government allowed about 10 per cent hike in the production of ore from Joda and Koira circles to 57 million tonne (mn t) in 2012-13 from the previous year. While ore output from Joda circle is set at 44 mn t, that at the Koira sector is pegged at 13 mn t. Both Joda and Koira are the two most prolific iron ore producing circles in Odisha, contributing to over 80 per cent of the total
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Pricing formula of Kelkar panel, Rangarajan panel may be similar
Media reports indicate that the Vijay Kelkar committee, appointed to suggest pricing of natural gas, may offer a band of prices besides the formula arrived the committee under C Rangarajan, the Chairman of the Prime Minister's Economic Advisory Council. Reports also suggest that the price band may not differ substantially from the basic formula arrived at by the
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Pricing formula of Kelkar panel, Rangarajan panel may be similar
Media reports indicate that the Vijay Kelkar committee, appointed to suggest pricing of natural gas, may offer a band of prices besides the formula arrived the committee under C Rangarajan, the Chairman of the Prime Minister's Economic Advisory Council. Reports also suggest that the price band may not differ substantially from the basic formula arrived at by the
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Govt takes steps to boost coal output
The union government has envisaged that one of the ways forward to reduce the dependence on imports is to devise a Public Private Partnership (PPP) policy framework with CIL as one of the partners in order to increase the production of coal for supply to power producers and other consumers. Accordingly the Ministry of Coal has set up a Committee to devise a PPP Policy framework with CIL as one of the partners in order to increase production of coal
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Pig iron makers try to overcome muted local demand
Pig iron producers in India are trying to reduce manufacturing cost and diversify their sales to foreign markets amidst muted demand from the domestic steel sector. In order to reduce production cost, some units are said to be using more iron ore fines than lumps. Further, firms like Sesa Goa are now producing according to the need only