Considering tepid demand in the monsoon season, public sector mining major NMDC reduced prices of iron ore by Rs 100-200 per tonne for July. While the company decided to cut the price of lumps by Rs 200 per ton, it reduce the price of fines by Rs 100 a ton for July, media reports indicate. Following the decision, which is reportedly taken at the company's recent board meeting in Hyderabad, iron ore l
Tag: supply
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Govt to release shale gas policy soon
With the government initiating pricing reform in the natural gas sector, it plans to release the shale gas policy shortly and auction blocks for producing the unconventional fuel, media reports indicate. Also, the government will launch tenth bidding round for oil and gas blocks under new policy, media reports suggest. As part of its overall economic reform initiative, the government the government recently raised the price of domestic natural gas to $8.4 per unit from the present price
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RGPPL shuts operation in Dabhol power plant
Since June 6, the 1,967 mw-Dabhol power plant in Maharashtra has been closed owing to lack of natural gas. Ratnagiri Gas & Power (RGPPL), which owns the plant, is demanding gas linkage for the plant in order to restart generation. This is the second time the project remains shut after April 2013, Between February 21 and April 2, the plant remained closed because of a lack of gas supply.
Gene
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Impact of gas price hike on other sectors
According to some estimate, an increase in the price of natural gas by $1 would result in fertiliser plants taking a hit of Rs 3,155 crore per annum for producing 23 million tonne (mn t) of urea in 2013-14 and Rs 4,144 crore a year for 32 mn t from 2017-18. As for the power sector, the the impact of every dollar increase in the price of natural gas would be about Rs 10,040 crore per annum for generating 28,000 mega watts power
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Hyderabad faces shortage of CNG
Some parts of Hyderabad are facing shortage of
Compressed Natural Gas (CNG) as oil companies are allegedly not supplying the fuel in required quantity at the 12 CNG outlets in the city and its surroundings. Each outlet requires 1,500 to 1,800 kg of CNG every day but oil companies do not supply the required quantity. They hardly supply about 1,000 kg to each outlet, said Rajiv Amaram, Joint Secretary (South), Conf
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Govt to hire consultant to restructure Coal India
Government is in the process of hiring an external consultant to advise on the restructuring of Coal India (CIL) for a long term sustainability roadmap. The government is learnt to have shortlisted nine consultants for the purpose. Meanwhile, agency reports quoted Coal Minister Prakash Jaiswal as saying that he was not in favour of splitting the state-run CIL. The minister has reportedly said
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Kelkar panel may submit report by Sept
Kelkar committee is likely to submit its report
on the natural gas pricing formula to the government by September 2013, media reports indicate. Under the Chairmanship of Vijay Kelkar, a committee was formed by the union oil Minister Veerappa Moily in March 2013 to suggest steps for enhancing domestic oil and gas production. Later, its scope was expanded to sugg
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CCI probes cartelisation in petrol pricing
Anti-trust watchdog Competition Commission of India (CCI) has reportedly started probing the alleged cartelisation in the price of petrol in the domestic market by state-run oil marketing companies (OMCs). Suspicion of cartelisation in petrol pricing arose as state-run OMCs usually reduce or hike price of the fuel in unison. The Director General, the investigation arm of the CCI is investigating the matter
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SAIL takes steps to complete modernisation project early
Steel Authority of India (SAIL) is taking steps to ensure that the modernisation work at its IISCO Steel Plant is completed at the earliest. As part of this, CS Verma, Chairman of the firm assigned
separate jobs to different teams formed for this purpose. The company formed different teams and broke all critic
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Coking coal import of SAIL set to rise
The current expansion projects, once completed, would result in a 30 per cent growth in the import of coking coal by Steel Authority of India (SAIL) to feed its increased production capacity. In the past two fiscal years, the firm's coking coal shipments remained largely unchanged at around 10 million tonne. The steelmaker imports three-quarters of its coking coal