India’s GDP may grow at 7.3% in FY20: Ind-Ra

India Ratings and Research (Ind-Ra) has revised India’s gross domestic product (GDP) growth estimate for fiscal 2019-20 to 7.3 per cent from 7.5 per cent earlier. The predicted lower-than-normal monsoon, the continued agrarian distress and the loss of momentum in the industrial output growth are being cited as the key reasons for the downward revision. […]

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Iran reacts with war threats as US waivers on Iranian oil expire

Iran’s armed forces should prepare as if an attack were imminent, General Abdolrahim Mousavi instructed on Thursday just as the US waivers on Iranian crude oil sanctions expired, according to Iran’s Radio Farda. “All forces should prepare themselves as though an attack can occur tomorrow and continuously engage in war exercises,” Mousavi told IRNA, the official […]

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Are India and China setting up a new mega cartel of oil buying countries?

China and India—two of the world’s largest oil importers and the biggest demand growth centers globally—are close to setting up an oil buyers’ club to have a say in the pricing and sourcing of crude oil amid OPEC’s cuts and U.S. sanctions on Iran and Venezuela, livemint reports, citing three officials with knowledge of the talks. […]

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India looking at $500 billion investment in renewable energy generation by 2028: IEEFA

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India is looking at a mammoth $500 billion worth of investment in creating renewable energy generation capacity with tendering of 500 Gigawatt (GW) by 2028 in addition to $250 billion investment in grid expansion and modernisation required for uptake of green energy capacity, according to the Institute of Energy Economics and Financial Analysis (IEEFA). The global think-tank […]

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India natural gas output grew 0.69% in FY19

India’s natural gas production grew for the second consecutive year in 2018-2019, primarily due to increase in production from fields operated by government-owned Oil and Natural Gas Corporation (ONGC). India’s cumulative natural gas production grew 0.69 per cent to 32,873 Million Standard Cubic Meter (MMSCM) last fiscal, as compared to 32,649 MMSCM produced in financial […]

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Vedanta gets green nod for Rs 12,000 crore oil and gas expansion project in Rajasthan

Mining moghul Anil Agarwal’s Vedanta Ltd has received environment clearance for the expansion of its oil and gas operation in Rajasthan that would entail an investment of Rs 12,000 crore, according to an official circular. The proposal is to expand onshore oil and gas production from the existing 3,00,000 BOPD (barrels oil per day) to 4,00,000 BOPD and 165 mmscfd (million […]

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