India planning incentives for early commencement of production from auctioned mines

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The government plans to provide incentives to mineral block allocatees for early commencement of production from the auctioned mines, a move aimed at increasing mineral output of the country and reducing imports. The mines ministry plans to do the same through amendment of the mining rules and has sought comments and suggestions from stakeholders on […]

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Environmentalists oppose India’s plans to turn Goa into coal hub

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Environmentalists and politicians in Goa, India, known globally for its beaches and dense forests, are opposing a plan by Prime Minister Narendra Modi’s government to turn the southwestern coastal state into a coal transportation hub. Protests against the initiative began last year, when New Delhi unveiled three infrastructure projects to increase coking coal handling at the state-run Mormugao Port Trust […]

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Reliance Industries likely to spin off oil-to-chemical business into a separate unit

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Reliance Industries Ltd has spun off RIL’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company said. The oil-to-chemical (O2C) business unit holds Reliance’s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as KG-D6 and textiles business. […]

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Weekly Wrap – Global uncertainty down from Covid peak, but still above historical average

The World Uncertainty Index—a quarterly measure of global economic and policy uncertainty covering 143 countries—shows that although uncertainty has come down by about 60 per cent from the peak observed at the onset of the COVID-19 pandemic in the first quarter of 2020, but still remains about 50 per cent above its historical average during […]

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India hopes to import more Iranian, Venezuelan crude under Biden: Minister Pradhan

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India hopes it could diversify its oil suppliers under the new U.S. Administration that could relax restrictions on oil exports from Iran and Venezuela, India’s Oil Minister Dharmendra Pradhan told Bloomberg TV in an interview. “Some geopolitical changes are there,” Pradhan told Bloomberg, referring to expected policies from U.S. President Joe Biden. The Indian minister reiterated […]

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