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MAY 23 2012

PFC to raise $250 m via ECBs; looking to fund coal projects overseas

  • Business Line, Our Bureau / New Delhi, 23 May 2012
  • Created:Wed 23rd MAY 2012

Power Finance Corporation Ltd (PFC) on Tuesday said it will raise $250 million through external commercial borrowing. PFC is also looking at expanding its portfolio by funding coal mining ...

MAY 23 2012

Biomass-based power producers cry for help

  • Business Standard, Sanjay Jog / Mumbai, 23 May 2012
  • Created:Wed 23rd MAY 2012

Seek Forum of Regulators? intervention for early resolution of long-pending issuesAmid growing regulatory and administrative uncertainties, ...

MAY 23 2012

JSW Energy: Desperately seeking black gold

  • Business Standard, Katya B Naidu / Mumbai, 23 May 2012
  • Created:Wed 23rd MAY 2012

In a continuation of an analysis of the Sajjan Jindal empire, this article looks at how coal?or the lack of it?has hobbled JSW?s merchant power business, forcing it to change ...

MAY 23 2012

Discoms sink as states skirt sharp tariff hikes

  • Financial Express, Noor Mohammad / New Delhi, 23 May 2012
  • Created:Wed 23rd MAY 2012

Think you pay through the nose for electricity? Perhaps you should thank your state government which keeps the regulator from hiking tariffs.Power sector losses are ...

MAY 23 2012

Coal India has signed FSA with around 18 power plants: Government

  • Economic Times, PTI / New Delhi, 23 May 2012
  • Created:Wed 23rd MAY 2012

The government today said Coal India has so far signed pacts with 18 power plants for supply of the fuel, amid electricity producers' reservations about certain clauses of the fuel ...

MAY 23 2012

Govt likely to soften stance as TCI nears CIL lawsuit

  • Financial Express, AshishRukhaiyar, Parul/ New Delhi, 23 May 2012
  • Created:Wed 23rd MAY 2012

The coal ministry may soften its stance towards London-based The Children’s Investment Fund (TCI), the second largest stakeholder in Coal India, to prevent the latter resorting to ...

MAY 23 2012

Coal India output up 5.75%

  • Business Line, Our Bureau / Kolkata, 23 May 2012
  • Created:Wed 23rd MAY 2012

Coal India Ltd recorded 5.75 per cent growth in production in the first seven weeks of this fiscal compared to the same period in 2010-11. Till May 20, production is up by 3 million tonnes ...

MAY 23 2012

FII gains evaporate as dollar turns too hot for rupee

  • Business Standard, N Sundaresha Subramanian & Sameer Mulgaonkar / New Delhi,Mumbai, 23 May 2012
  • Created:Wed 23rd MAY 2012

Several stocks cheaper in dollar terms now than in March 2009 when Sensex was below 9,000 FIIs in Coal India IPO stare at lossesForeign investors in the ...

MAY 23 2012

Legacy Iron to acquire six coal tenements in Queensland

  • Business Line, PTI / Hyderabad, 23 May 2012
  • Created:Wed 23rd MAY 2012

Legacy Iron, the Australian arm of state-owned NMDC is set to acquire six coal tenements in Queensland, according to a top official of the PSU.The move to acquire coal ...

MAY 23 2012

Uproar in Rajya Sabha over CAG report on coal blocks allocation

  • Business Line, Jigeesh, Richa Mishra / New Delhi, 23 May 2012
  • Created:Wed 23rd MAY 2012

The Rajya Sabha witnessed frequent disruptions following the Opposition uproar over CAG reportedly pointing to a loss of over Rs 1,80,000 crore to the exchequer in the allotment of coal ...

MAY 23 2012

Oil Ministry says ‘immediate’ need to hike fuel prices

  • Business Line, PTI / Amritsar, 23 May 2012
  • Created:Wed 23rd MAY 2012

With rupee depreciation leading to jump in oil import bill, Petroleum Minister S Jaipal Reddy today said there is an immediate need to raise fuel prices, but refused to say when the hike ...

MAY 23 2012

Lenders give ultimatum to Haldia Petrochem

  • Mint, Aniek Paul / 23 May 2012
  • Created:Wed 23rd MAY 2012

As the firm’s debt nears Rs.4,000 crore, lenders are concerned about its ability to repay loans amid mounting losses The lenders of Haldia ...

MAY 23 2012

Should the government reduce taxes on petroleum products?

  • Business Standard / 23 May 2012
  • Created:Wed 23rd MAY 2012

Vikram MehtaChairman, Shell India“A more optimal policy would be to reduce the central taxes and levy ...

MAY 23 2012

US senate approves new, tougher Iran sanctions

  • Financial Express, Reuters/ Washington, 23 May 2012
  • Created:Wed 23rd MAY 2012

The US Senate unanimously approved on Monday a package of new economic sanctions on Iran’s oil sector just days ahead of a meeting in Baghdad between major world powers and ...

MAY 23 2012

ONGC appoints Banerjee as Director (Finance)

  • Business Line, Our Bureau / New Delhi, 23 May 2012
  • Created:Wed 23rd MAY 2012

Mr Aloke Kumar Banerjee has taken over as Director (Finance) of ONGC on May 22, the company said in a statement on Tuesday. Mr Banerjee has close to three decades of ...

MAY 23 2012

108 hydrocarbon discoveries made in 36 NELP blocks

  • Business Line, Our Bureau / New Delhi, 23 May 2012
  • Created:Wed 23rd MAY 2012

Till date, 108 hydrocarbon discoveries (38 oil and 70 gas discoveries) have been made in 36 New Exploration Licensing Policy (NELP) blocks in the country. Of these, six discoveries have been ...

MAY 23 2012

RIL to abandon Mahanadi basin block over low gas price

  • Zeenews, PTI / New Delhi, 23 May 2012
  • Created:Wed 23rd MAY 2012

Reliance Industries has decided to give back a Mahanadi basin deepsea block D4 due to natural gas discoveries not being viable to produce at current subdued domestic ...

MAY 23 2012

CBI to consult Attorney General on case against former DGH, RIL official

  • Economic Times, Rohini Singh, ET Bureau / New Delhi, 23 May 2012
  • Created:Wed 23rd MAY 2012

The Central Bureau of Investigations (CBI) will seek the Attorney General's opinion on whether the agency can proceed against former director general of hydrocarbons VK Sibal and ...

MAY 23 2012

Despite uncertain output, DGH asked RIL to build bigger facility

  • Economic Times, Rajeev Jayaswal, ET Bureau / New Delhi, 23 May 2012
  • Created:Wed 23rd MAY 2012

Reliance Industries, which has been slapped $1 billion notice for creating over-capacity at the KG-D6 block, had been formally directed by the oil ministry's technical arm in 2006 to ...

MAY 23 2012

Reliance Industries Limited to boost refining margins

  • Economic Times, ET Bureau / Mumbai, 23 May 2012
  • Created:Wed 23rd MAY 2012

Reliance Industries Limited (RIL) will boost refining margins by $3 a barrel in three to four years from it $4-billion investment to build one of the world's largest gasification ...