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AUG 09 2012

Oil India net up on higher price realisation

  • Business Line / New Delhi, 9 August 2012
  • Created:Thu 09th AUG 2012

Subsidy to oil marketing firms rises 13% Oil India Ltd has reported a 9.45 per cent increase in net profit for the first quarter of the current fiscal. This was possible due to ...

AUG 09 2012

Sinking margins weigh on ONGC books

  • Business Standard, Ajay Modi / New Delhi, 9 August 2012
  • Created:Thu 09th AUG 2012

Company makes only $47/barrel in Q1 FY13 despite billing it at $110 a barrel due to discounts to OMCs Oil and Natural Gas Corporation (ONGC) realised only $47 a barrel on the crude ...

AUG 09 2012

Gujarat, UP reject Centre’s move for petro duty rejig

  • Business Line / New Delhi, 9 August 2012
  • Created:Thu 09th AUG 2012

Gujarat and Uttar Pradesh are unwilling to shift to specific duty from ad valorem on petroleum products. The response of these States came after former Finance Minister, Pranab Mukherjee, ...

AUG 09 2012

Attinad Soft signs up marquee clients in telecom, oil & gas

  • Business Line, Vinson Kurian / Thiruvananthapuram, 9 August 2012
  • Created:Thu 09th AUG 2012

Technopark-based Attinad Software has signed up marquee clients in sectors as diverse as telecom and oil and gas in West Asia. Etisalat and Abu Dhabi National Oil Company (Adnoc) are two ...

AUG 09 2012

Oil Min puts on hold order for diverting Reliance gas to Dabhol

  • Financial Express / New Delhi, 9 August 2012
  • Created:Thu 09th AUG 2012

Facing flak for slashing natural gas supplies to fuel-starved power plants across the country so that requirement of one station in Maharashtra can be met, the Oil Ministry has kept in abeyance ...

AUG 09 2012

Incentives for oil explorers

  • Mint, New Delhi, 9 August 2012
  • Created:Thu 09th AUG 2012

It is important the government has a right mix of incentives and disincentives to attract explorers to India There are plans to change the manner in which the government collects rent from ...

AUG 09 2012

US seeks $3bn for Sudan oil deal

  • Financial Express / New Delhi, 9 August 2012
  • Created:Thu 09th AUG 2012

The US wants China and Arab states to help foot the $3bn bill for a deal designed to unlock oil production and set Sudan and South Sudan back on the path to peace. The warring neighbours ...

AUG 09 2012

Cairn India's Rahul Dhir steps down

  • Business Standard / New Delhi, 9 August 2012
  • Created:Thu 09th AUG 2012

Cairn India on Wednesday said Managing Director and Chief Executive Officer (CEO) Rahul Dhir had quit the company to pursue “entrepreneurial interests”. Dhir, the face of Cairn India ...

AUG 09 2012

Rahool Panandiker and Urjit R Patel: The golden age of gas

  • Business Standard, Rahool Panandiker & Urjit R Patel / New Delhi, 9 August 2012
  • Created:Thu 09th AUG 2012

Given the shale gas revolution, a rigorous mapping of scenarios for natural gas is necessary The “golden age of gas” is a phrase that may pass into common usage. Unlike ...

AUG 09 2012

Tripura plans leveraging natural gas reserves to draw investments

  • Business Line / Kolkata, 9 August 2012
  • Created:Thu 09th AUG 2012

Proximity with Bangladesh markets seen an attraction Industry Minister of Tripura Jitendra Choudhury on Wednesday said the State is planning to capitalise its natural gas reserves ...

AUG 09 2012

Govt gas supply company seek transfer of distribution rights

  • Business Line / Kolkata, 9 August 2012
  • Created:Thu 09th AUG 2012

West Bengal Government-owned Greater Calcutta Gas Supply Company (GCGSC) has approached the Petroleum and Natural Gas Regulatory Board (PNGRB) for transfer of city gas distribution rights to its ...

AUG 08 2012

Fitch sees long-term solution to power outages in 2 years

  • Business Line / Mumbai, 8 August 2012
  • Created:Wed 08th AUG 2012

Rating agency Fitch said it will take the Government two years or more to implement a long-term solution to power outages. The Indian Government will push through some emergency fixes in ...

AUG 08 2012

Power loans cross R6 lakh cr, now over 6% of GDP

  • Financial Express, Noor Mohammad / New Delhi, 8 August 2012
  • Created:Wed 08th AUG 2012

Recent grid collapses have exposed the underbelly of Indias power sector, but there is more of the story to be told. Outstanding debt of state power utilities have grown to a staggering R6 lakh ...

AUG 08 2012

Debate to operationalise national bulk market revives

  • Business Standard, Sanjay Jog / Mumbai, 8 August 2012
  • Created:Wed 08th AUG 2012

Trigger is the power ministrys directive to put in place mechanism for open access The power ministrys fresh communication reiterating its directives to the Central Electricity Regulatory ...

AUG 08 2012

Mitigating project financing risks

  • Financial Express, Atmanand / New Delhi, 8 August 2012
  • Created:Wed 08th AUG 2012

In the infrastructure space, power is the most critical and capital-intensive sector. The sector's fund requirement for the 11th Plan was a staggering R10,31,600 crore, of which R4,10,896 ...

AUG 08 2012

Power sector debt rejigs pinched in Q1: Banks

  • Business Standard, Krishna Pophale / Mumbai, 8 August 2012
  • Created:Wed 08th AUG 2012

Power sector contributed to more than half of the loans restructured by large public sector banks in the quarter ended June 30. Most of these loans were given to the state electricity ...

AUG 08 2012

Maintain neutral on BGR Energy on mixed Q1 results

  • Financial Express, Motilal Oswal / New Delhi, 8 August 2012
  • Created:Wed 08th AUG 2012

We maintain a neutral rating on BGR Energy Systems with a revised target price of R253, based on 10x FY14e earnings. We have cut our FY13 estimates by 11% given the deteriorating order ...

AUG 08 2012

Should power subsidies to farmers be scrapped?

  • Business Standard / New Delhi, 8 August 2012
  • Created:Wed 08th AUG 2012

We cannot allow state utilities to crumble under losses but smart subsidies are fundamental to making farming viable LALIT JALAN CEO, Reliance Infrastructure ...

AUG 08 2012

NHPC Q1 profit slips 15%

  • Business Line / New Delhi, 8 August 2012
  • Created:Wed 08th AUG 2012

Public sector hydro electricity producer NHPC has reported 15.32 per cent drop in its first quarter profit. The company has posted a net profit of Rs 669.81 core for the quarter ended June 30, ...

AUG 08 2012

CIL agrees to 40% penalty in case of short supply

  • Business Standard / New Delhi, 8 August 2012
  • Created:Wed 08th AUG 2012

Stage also set for 8% rise in power costs, with new price pooling system for imports The fuel supply tussle between Coal India Ltd (CIL), the near-monopoly producer, and power ...