Indian Energy Exchange (IEX) said it has recorded a 13.2 per cent rise in electricity sales to 16,486 million units (MU) in the September quarter, as power demand accelerated and returned to pre-COVID levels. The second quarter witnessed a sharp recovery in industrial activities and electricity consumption, owing to easing of the lockdown restrictions across […]
State-owned Bharat Petroleum Corp. is seeking bids from global suppliers for a fifth of its typical LPG needs in 2021, according to a Bloomberg report, claiming to have seen a tender seeking bids. Bidding is still open to the Middle East producers, who already provide BPCL with the majority of its contracted needs. India’s second-biggest fuel retailer had made […]
Bihar is set to receive three key petroleum projects ahead of the Legislative Assembly polls, scheduled in November 2020. Prime Minister Narendra Modi announced during the fisheries scheme inauguration during a video conferencing. The projects include the Durgapur-Banka section of the Paradip-Haldia-Durgapur Pipeline Augmentation Project and two LPG Bottling Plants, said the Prime Minister’s Office. […]
Norwegian conglomerate Orkla has entered into an agreement to acquire 67.8% of the shares in Kerala- based Eastern Condiments, which sells spices, masala blends, rice powders, coffee, tea and pickles, Eastern said on Friday. Through its wholly owned subsidiary MTR Foods, Orkla, has signed agreements to purchase a 41.8 % ownership stake in Eastern from […]
Despite a purported trade war, U.S. crude oil exports to China grew by 139 per cent on the year in July 2020 thanks to bargain hunting among Chinese buyers, making the U.S. the fifth-largest supplier of oil to the critical Chinese market. Reuters reports that the United States exported a daily average of over 866,000 […]
Mining major Vedanta Ltd. has moved the Supreme Court challenging the Madras High Court’s refusal to order reopening of Sterlite’s copper smelting plant at Tuticorin in Tamil Nadu. On August 18, the Madras HC refused to allow reopening of the plant and dismissed all the 10 petitions filed by the company. The Tamil Nadu government has already filed a […]
India extended the imposition of anti-dumping duty by three months on caustic soda imported from China and Korea to guard domestic manufacturers. The duty was extended after considering the recommendations of the commerce ministry’s investigation arm DGTR. Directorate General of Trade Remedies (DGTR) had requested for extension of the existing anti-dumping duty on the chemical imported from China and […]
Apex tea planters’ body in South India has taken strong objection to any move that might tinker with the import duty structure of tea, cautioning about its counter-productive impact on the tea growing sectors. United Planters’ Association of Southern India (Upasi) president AL RM Nagappan, in a press statement, said tea was an important agro-industry […]
India’s coal import fell 43.2 per cent to 11.13 million tonnes (MT) in July this year on account of high stockpile of the dry fuel at pitheads, plants and ports. The country had imported 19.61 MT of coal in July 2019, according to a provisional compilation, by mjunction Services Limited, based on monitoring of vessels’ […]
Fearing a new kind of germ warfare, Indian government has alerted state governments, agriculture universities, seed associations, certification agencies and research institutes under Indian Council of Agricultural Research (ICAR) to remain vigilant as unsolicited seeds reaching the country via courier. The government is perceiving a new threat of foreign seeds harming India’s food chain and […]
