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 […]
In a bid to provide relief to renewable power producers facing delays in project commissioning due to reasons beyond their control, the government has allowed solar and wind-based generation projects to avail transmission charge waivers even if they fail to set up their plants within June 30, 2023 — the deadline set for projects to […]
State-owned Coal India Ltd said that it is well geared to meet any surge in demand for coal from the power sector. The statement follows power demand touching an all-time high of 187.3 GW last Friday. “CIL (Coal India) is well geared to meet any surge in demand for the dry fuel from the power […]
UK-based Kyma Capital, founded by former Blackstone trader Akshay Shah, is set to complain to US regulators in a dispute with Indian billionaire Anil Agarwal over nearly $1 billion in loans by Vedanta Limited to its parent company, a source familiar with the matter told Reuters. Kyma Capital, a London-based hedge fund that owns shares in […]
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 […]
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. […]
Tata Power Solar announced that it has bagged an order worth Rs 1,200 crore from state-run power giant NTPC for setting up of 320 MW ground mounted solar project. Tata Power Solar, India’s largest integrated solar company and a wholly-owned subsidiary of Tata Power, has received a “Letter of Award (LoA)” to build 320 MW of ground […]
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 […]
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 […]
The cold spell that left Asian countries scrambling to buy enough natural gas for heating and electricity generation earlier this month made headlines and spurred a massive rally in spot gas prices on the regional market. It also highlighted a problem with China’s electricity consumption: it grew too much, too fast. Reuters’ John Kemp noted in a […]