19-May-2023
Power
" New Delhi : Owing to the improved asset quality and resolution of stressed assets, REC recorded highest ever quarterly and yearly profit at ₹3,001 crores and 11,055 crores respectively. As a result, the Earnings Per Share for the year ended 31st March 2023 stands at ₹41.86 per share as against ₹38.02 per share as of 31st March 2022. The Return on Net-Worth during the year was 20.23%." : Sarkaritel.com
REC Records Its Highest Ever Quarterly and Yearly Profit At ₹ 3,001 Crore and ₹ 11,055 Crore respectively
New Delhi : The Board of Directors of REC Limited on Wednesday approved the audited standalone and consolidated financial results for the quarter and year ended 31st March 2023. : renewableenergymagazine.com
REC recorded highest ever quarterly and yearly profit at ₹ 3,001 crores and 11,055 crores respectively
New Delhi : The Board of Directors of REC Limited approved the audited standalone and consolidated financial results for the quarter and year ended 31st March 2023 in its meeting at Mumbai today. As a result, the EPS (Earnings Per Share) for the year ended 31st March 2023 stands at ₹ 41.86 per share as against ₹ 38.02 per share as at 31st March 2022. : newsclick.in
REC posts highest ever quarterly & yearly profit of `3,001 cr & `11,055 cr
New Delhi : The Board of Directors of REC Limited on Wednesday approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2023. : millenniumpost.in
REC targets ₹2.4 trillion loan book in renewable energy portfolio by 2030
New Delhi : Rural Electrification Corporation (REC) is set to significantly expand its loan book under the renewable energy (RE) portfolio, aiming for ₹2.4 lakh crore by the financial year 2030. : Mint
REC to fund infra and logistics projects up to 33% of its loan portfolio: CMD
New Delhi : After getting approval from the Power Ministry, REC Ltd has started to fund projects beyond the electricity sector. The maharatna category non-banking financial company (NBFC) will fund projects in the infrastructure and logistics sector, REC Chairman and Managing Director (CMD) Vivek Kumar Dewangan said. : Moneycontrol.com
Government to bring new scheme for distributed renewable energy application: RK Singh
New Delhi : Government to bring new scheme for distributed renewable energy application: RK Singh. : Economic Times
Govt to launch scheme for livelihood applications of distributed RE: Power Minister RK Singh
New Delhi : Govt to launch scheme for livelihood applications of distributed RE: Power Minister RK Singh. : Economic Times
Green wings: Raja Bhoj airport powered by renewable energy
New Delhi : Green wings: Raja Bhoj airport powered by renewable energy. : Economic Times
Oriana Power commissions 2.7 MW solar project at IOCL refinery in Haryana
New Delhi : Oriana Power commissions 2.7 MW solar project at IOCL refinery in Haryana. : Economic Times
Sumant Sinha’s formula to get India’s offshore wind sector moving
New Delhi : Sumant Sinha’s formula to get India’s offshore wind sector moving. : Economic Times
Focus on using green energy powered construction equipment: Nitin Gadkari
New Delhi : Focus on using green energy powered construction equipment: Nitin Gadkari. : Economic Times
Himachal Pradesh Power Corporation Issues Tender for Supply of 3 MW Solar Project
New Delhi : Himachal Pradesh Power Corporation Issues Tender for Supply of 3 MW Solar Project. : saurenergy.com
REMCL Launches National Energy Management Centre for Energy Data Collection from SEMCs
New Delhi : REMCL Launches National Energy Management Centre for Energy Data Collection from SEMCs. : saurenergy.com
PFC Issues Tender for Procurement of Aggregate Power Including RES with Storage
New Delhi : PFC Issues Tender for Procurement of Aggregate Power Including RES with Storage. : saurenergy.com
Geeta Kapoor Awarded Winners of Elocution and Quiz Competitions at SJVN
Shimla : Smt. Geeta Kapoor, Director (Personnel), SJVN on 18 May 2023 awarded the winners of the Elocution Competition and Quiz Competition at the Corporate Office, Shimla. Shri Shailendra Singh, Chief General Manager and Shri Chandra Shekhar Yadav, General Manager, and other senior officers were also present on the occasion. : psuconnect.in
REC March qtr net profit zooms 31% YoY to Rs 3,001 crore
New Delhi : REC Limited, amongst the top financiers of power projects in India, reported its highest ever quarterly profit of Rs 3001 crore for the quarter ending 31 March on Wednesday. Net profits rose 31% compared to the corresponding quarter in the previous financial year, according to a company release. : Economic Times
REC Q4FY23 Results: Net profit up 33% to ₹3,065.37 crore
New Delhi : REC Ltd on Wednesday reported an 33% year-on-year (YoY) surge in its consolidated net profit for the fiscal's fourth quarter ended March (Q4FY23) to ₹3,065.37 crore. : Mint
REC posts highest-ever quarterly net profit of Rs 3,065 crore in January-March quarter
New Delhi : State-owned REC Ltd on Wednesday recorded its highest ever quarterly and yearly profit at Rs 3,001 crore and Rs 11,055 crore respectively (on a standalone basis). : manoramaonline.com
REC plans to increase loan book over two-fold to Rs 10 trn by 2030
New Delhi : State-owned non-banking finance firm REC Ltd is planning to increase its loan book over two-fold to Rs 10 lakh crore by 2030, including Rs three lakh crore for renewable energy projects. : Business Standard
India's G20 Presidency, an opportunity for offshore wind nations, business, financial institution says B S Bhalla
New Delhi : India's G20 Presidency, an opportunity for offshore wind nations, business, financial institution says B S Bhalla. : Economic Times
Solar panel maker Waaree in talks to raise Rs 1,000 crore
New Delhi : Solar panel maker Waaree in talks to raise Rs 1,000 crore. : Economic Times
India to roll out first offshore wind energy tender soon: MNRE Secretary
New Delhi : India to roll out first offshore wind energy tender soon: MNRE Secretary. : Economic Times
India's coal production grows 8.5 pc to 73 MT in April; despatch rise 11.66 pc to 80.35 MT: Coal Ministry
New Delhi : India's coal production grows 8.5 pc to 73 MT in April; despatch rise 11.66 pc to 80.35 MT: Coal Ministry. : Economic Times
G20 energy transition group backs 'universal access' to green power
New Delhi : G20 energy transition group backs 'universal access' to green power. : Economic Times
JK to push solar energy to cut consumers' electricity bills
Jammu : JK to push solar energy to cut consumers' electricity bills. : Economic Times
Power Secretary Alok Kumar says Americans 'very keen' to transfer nuclear energy technology to India
New Delhi : Power Secretary Alok Kumar says Americans 'very keen' to transfer nuclear energy technology to India. : Economic Times
SKS Power's lenders to seek more time to seal resolution
New Delhi : Lenders to the insolvent SKS Power Generation (Chhattisgarh) are seeking an extension to the resolution timeline of the 600 MW plant amidst intense competition among the four bidders to take over the company. : Economic Times
Green energy to hold a third of REC's loan portfolio by 2030: CMD
New Delhi : REC Limited, one of leading power sector lenders under the aegis of the Ministry of Power, is looking to decarbonise its lending portfolio with more exposure to green energy sectors. : Business Standard
REC Limited signs Loan Agreement with MSRDC Tunnels Limited
New Delhi : REC signed Loan Agreement with MSRDC Tunnels Limited in Mumbai on 16 May 2023. REC extending financial assistance to MSRDC Tunnels Limited to an extent of Rs. 17,500 Cr. for Mumbai - Pune Expressway project through Cash Flow Securitization. : psuconnect.in
REC records its highest ever quarterly and yearly profit at Rs. 3,001 Cr. and Rs. 11,055 Cr. respectively
New Delhi : Owing to the improving asset quality and resolution of stressed assets, REC recorded highest ever quarterly and yearly profit at Rs. 3,001 crores and 11,055 crores respectively. : psuconnect.in
CERC Orders Compensation To Hero Solar SPV Over Surge In GST Rates
New Delhi : CERC Orders Compensation To Hero Solar SPV Over Surge In GST Rates. : saurenergy.com
Dudhsagar Research & Development Assn Invites Bids for 1 MW Solar Rooftop
New Delhi : Dudhsagar Research & Development Assn Invites Bids for 1 MW Solar Rooftop. : saurenergy.com
Oil and Gas
" New Delhi : GAIL (India) Ltd reported Revenue from Operations of ₹1,44,302 crores in FY23 as against ₹91,646 crores in FY22. Profit before Tax (PBT) in FY23 stood at ₹6,584 crores as against ₹13,590 crores in FY22. Profit after Tax (PAT) in FY23 stood at ₹5,302 crores as against ₹10,364 crores in FY22." : Sarkaritel.com
" New Delhi : Secretary, Ministry of Petroleum and Natural Gas, Pankaj Jain highlighted the role of Biofuels and the importance of G20 countries collaboration in achieving the full potential of biofuels, for a cleaner and greener tomorrow. He was addressing the Global Biofuel Alliance Seminar, organised by MoP&NG on the side lines of the 3rd Energy Transition Working Group Meeting in Mumbai on 15th May 2023." : Sarkaritel.com
GAIL India Q4 earnings: Stock slips over 4% as net profit tumbles 77%
New Delhi : Shares of GAIL India slipped over 4 per cent today after the state-owned gas utility reported a weak set of earnings for the quarter ended March 2023. : Business Today
GAIL Q4 Results: Profit slumps 78% on-year on higher expenses; stock cracks 5%
New Delhi : GAIL (India) Ltd, the country's largest gas distributor, reported an almost 78 percent year-on-year slump in quarterly profit on Thursday, hit by higher expenses and operationally weak quarter. : cnbc.com
Gail's Q4 profit plummets 77.5% on weak show in petrochemicals segment
New Delhi : Gail (India) Ltd, the largest gas distributor in the country, reported a significant decline of 77.5% in its quarterly profit on Thursday due to weakness in its petrochemicals segment. : Mint
Sandeep Kumar Gupta CMD, GAIL India limited addressing Annual Press Conference
New Delhi : Sandeep Kumar Gupta CMD, GAIL India limited addressing Annual Press Conference. : Sarkaritel.com
Gail India Q4 Results: Profit slumps 77 per cent as petrochemicals drag, expenses jump
New Delhi : Gail India Q4 Results: Profit slumps 77 per cent as petrochemicals drag, expenses jump. : Economic Times
India plans to fill Mangalore SPR with 5.5 mln barrels of oil after Oct: source
New Delhi : India plans to fill Mangalore SPR with 5.5 mln barrels of oil after Oct: source. : Economic Times
India eyes refill of strategic oil stockpiles as US replenishes
New Delhi : India eyes refill of strategic oil stockpiles as US replenishes. : Economic Times
GAIL shuts Ratnagiri LNG terminal till September, cuts imports: Sources
New Delhi : GAIL shuts Ratnagiri LNG terminal till September, cuts imports: Sources. : Economic Times
Jaishankar questions EU's pretensions on Russian oil
New Delhi : Jaishankar questions EU's pretensions on Russian oil. : Economic Times
India's Russian oil buying hits record high, slashes Mideast, Africa share
New Delhi : India's Russian oil buying hits record high, slashes Mideast, Africa share. : Economic Times
Israel sees sharp rise in natural gas exports to Egypt, Jordan
New Delhi : Israel sees sharp rise in natural gas exports to Egypt, Jordan. : Economic Times
Government plans to 'float' offshore oil blocks-cum-wind farms
New Delhi : The ministry of new and renewable energy (MNRE) is in discussions with the ministry of petroleum and natural gas (MoPNG) to combine the exploration of offshore hydrocarbon blocks with offshore wind farms for better synergies, according to two government officials aware of the plan. : Economic Times
Lower gas prices to push up India's FY24 gas demand by 7%: GAIL Chair
New Delhi : Indian gas utility GAIL (India) Ltd sees local gas demand growing by 6%-7% in the fiscal year to March, driven by lower prices and the resumption of supply under a deal with the former unit of Russia's Gazprom, its chairman said on Thursday. : Economic Times
Petrol, diesel prices on May 18: What are the latest rates in your city?
New Delhi : Petrol and diesel prices have largely remained unchanged in major cities on Thursday, according to goodreturns.com. Fuel rates in major cities including Delhi, Mumbai, Kolkata and Chennai have remained same since May 21 last year, when the previous pan-India revision to fuel prices was done. : Hindustan Times
Back GAIL (India) plans ₹10,000 cr capex for FY 2023-24
New Delhi : Gail (India) Ltd, the largest gas distributor in the country, Thursday said the company plans a capex of ₹10,000 crore for the financial year 2023-24 which will be funded through a combination of internal accruals and borrowings. : Mint
GAIL Q4FY23 net profit drops 77.5%, revenue from operations up 21.8%
New Delhi : The Gas Authority of India Ltd (GAIL) on Thursday reported a 77.5 per cent drop in its net standalone profit to Rs 603.52 crore in the quarter that ended on March 31 (Q4FY23) as compared to Rs 2,683.11 crore in the same quarter in the previous year. : Business Standard
GAIL Q4 profit falls 77.5% to Rs 603 cr as Ukraine war weighs on gas supply
New Delhi : State-run gas supplier GAIL on Thursday reported a net profit of Rs 603 crore in the fourth quarter of financial year 2022-23 (Q4, FY23), a 77.5 per cent decline compared to Rs 2,683 crore in the same period a year back. : Business Standard
BPCL partners with Aspen Technology to revolutionize crude oil sourcing
New Delhi : BPCL, India's central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, has teamed up with Aspen Technology Inc. to revolutionize crude oil sourcing and real-time optimization. : psuconnect.in
EIL with GAIL achieved a major milestone
New Delhi : Team EIL along with Team GAIL-Usar achieved a major milestone with the completion of the second part of the RCC pour for the CATOFIN Reactor Structure for the 500 KTA PDH-PP Petrochemical Plant being set up by GAIL (India) Limited at Usar, Maharashtra. : psuconnect.in
GAIL restores supply cuts on LNG flow from ex Gazprom arm
New Delhi : State-run gas utility GAIL has restored supply cuts — imposed last year due to import disruptions caused by the Ukraine conflict — as a former Singapore-based subsidiary of Gazprom has resumed LNG (liquefied natural gas) shipments, company chairman Sandeep Gupta said on Thursday. : Times of India
GAIL Q4FY23 Results: Profit slumps 81.5% on-year to Rs 642.74 cr on higher expenses, misses estimates
New Delhi : GAIL (India) Limited posted a profit fall of 81.5 per cent at Rs 642.74 crore in the fiscal fourth quarter as against Rs 3473.77 crore in the same quarter last year, missing estimates, hit by higher expenses. : Financial Express
GAIL reports standalone net profit of Rs 604 crore, misses estimates
New Delhi : GAIL on May 18, 2023, reported a standalone net profit of Rs 603.52 crore for the quarter ended March 2023 (Q4FY23), down 77.5 per cent against Rs 2,683.11 crore logged in the year-ago period. Its revenue from operations stood at Rs 32,858.20 crore, : Zeebiz
Supply disruptions, high LNG prices drag GAIL’s Q4 FY23 net profit down 82%
New Delhi : State-run GAIL on Thursday reported a steep 82 per cent y-o-y decline in its consolidated net profit at ₹634 crore during the March quarter in FY23 as high LNG prices and supply disruptions impacted margins and sales. : Business Line
GAIL (India) plans Rs 10,000 cr capex, expects rebound in profits
New Delhi : GAIL (India) plans a capex of Rs 10,000 crore for the financial year 2023-24, said Chairman and Managing Director Sandeep Kumar Gupta. : Moneycontrol.com
Vedanta Resources Ltd taps global banks for $500-600 million loan
New Delhi : Vedanta Resources Ltd taps global banks for $500-600 million loan. : Economic Times
Russia's Putin says oil output cuts needed to maintain prices
New Delhi : Russia's Putin says oil output cuts needed to maintain prices. : Economic Times
Oil prices ease on caution over US debt ceiling talks
New Delhi : Oil prices ease on caution over US debt ceiling talks. : Economic Times
Former Russian unit resumes regular LNG supplies to India
New Delhi : Former Russian unit resumes regular LNG supplies to India. : Economic Times
Former Russian unit resumes regular LNG supplies to India; 6 US cos offer stake to GAIL
New Delhi : A former unit of Russian energy giant Gazprom has resumed supplying LNG to Indian state gas utility GAIL a year after it halted supplies due to the Ukraine war, GAIL chairman Sandeep Kumar Gupta said Thursday. : Economic Times
Oil project near Amazon River mouth blocked by Brazil's environment agency
New Delhi : Oil project near Amazon River mouth blocked by Brazil's environment agency. : Economic Times
Assam's Numaligarh Refinery signs MoU with Hyderabad-based T-Hub
New Delhi : Assam-based Numaligarh Refinery Limited (NRL) has signed a Memorandum of Understanding (MoU) with T-Hub (Technology Hub), a innovation hub and ecosystem enabler based out of Hyderabad. : Economic Times
India to import 9 mn barrel of oil for its strategic reserve
New Delhi : India is considering refilling its strategic hoard of crude oil, joining the US as the world’s top guzzler begins to rebuild its depleted stockpiles after a period of drawdown. : Mint
G20 collaboration crucial to realize full potential of biofuels, says petroleum secretary
New Delhi : It is important that G20 nations work together to tap into the full potential of biofuels to create a more sustainable future, said Pankaj Jain, secretary of ministry of Petroleum and Natural Gas (MoPNG), Pankaj Jain . : Mint
Oil prices ease on demand optimism; US debt ceiling talks, G7 Summit in focus
New Delhi : Oil prices eased and traded broadly stable on May 18 after optimism grew on US oil demand as investors await signs of progress on talks to raise the US debt ceiling. Earlier this week, the International Energy Agency predicted the demand would outpace supply by 2 million barrels per day (bpd) in the second half of the year, with China making up 60 per cent per cent of oil demand growth in 2023. : Mint
A reality check for Indian oil product exports amid international sanctions
New Delhi : India, along with China and Turkey, may be the next target for the US-led G-7 grouping, which is now setting its sights on sanctioning nations that convert discounted Russian crude oil into diesel, gasoline and jet fuel – known as “clean products” in the parlance -- and re-export these products to European consumers at full prices. : Business Standard
Mahanagar Gas Limited and BEST come together with ‘Tez’ way to refuel
Mumbai : Mahanagar Gas Limited (MGL), one of the largest city gas distribution companies in India, launched ‘MGL Tez’ at Ghatkopar BEST Bus Depot , in partnership with Brihanmumbai Electric Supply and Transport (BEST). : psuconnect.in
