MEDIA UPDATE (May 27, 2022)

Sarkaritel
By Sarkaritel May 27, 2022 09:06


27-May-2022

Power

Coal India to sell 25% stake in BCCL

New Delhi : The government-owned coal mining and refining company Coal India on Thursday said the company is to divest 25 percent stake in its unlisted arm Bharat Coking Coal Ltd (BCCL). : psuconnect.in

Power Ministry working to liquidate Rs 1 lakh crore dues of Discoms

New Delhi : The Ministry of Power on Wednesday said in a statement that it is working on a scheme to liquidate the past dues of Discoms as it owes Rs 1,00,018 crore as on May 18, 2022 to the generating companies. : Sarkaritel.com

Coal India to divest 25 per cent stake in BCCL; plans subsequent listing

New Delhi : State-owned CIL on Thursday said it is planning to divest 25 per cent stake in its unlisted arm Bharat Coking Coal Ltd (BCCL) and will go for the subsequent listing of the subsidiary on stock exchanges after obtaining further clearances. : Economic Times

Centre forcing states to buy imported coal as cover-up of short supply of dry fuel: AIPEF

New Delhi : All India Power Engineers Federation (AIPEF) on Thursday alleged that the Centre is encroaching upon states’ authority and forcing them to buy imported coal in a cover-up of its own inefficiencies in supplying domestic dry fuel to thermal plants. : Economic Times

SJVN inks pact with Tata Power Solar Systems for 1,000 MW solar project in Bikaner

New Delhi : State-owned SJVN Ltd on Thursday inked a pact with Tata Power Solar Systems to build a 1,000 MW solar project worth Rs 5,500 crore in Bikaner, Rajasthan. “SJVN today entered into an EPC agreement for 1,000 MW solar project in Bikaner, Rajasthan with M/s Tata Power Solar Systems Ltd,” a company statement said. : Economic Times

Interested in solar panels? Here is some advice

New Delhi : Thanks to technological and manufacturing advances, costs for solar panels have tumbled in the last decade, making solar energy more popular for homeowners. But figuring out how to add a solar energy system to your roof can be daunting. : Economic Times

S.Africa needs $250 bln over three decades for clean energy transition: report

New Delhi : Moving South Africa’s coal-dominated economy onto a greener footing will require at least $250 billion over the next three decades, a report released on the sidelines of the World Economic Forum said on Thursday. : Economic Times

UK plans consumer support as energy bills soar

London : Britain’s finance minister Rishi Sunak was Thursday to unveil a support package for consumers hit by soaring energy bills, reportedly with help from a controversial windfall tax on oil giants. : Economic Times

State power plants left with a week’s coal as monsoon looms

Jaipur : The power situation in the state has improved, but the coal stock in power plants continues to be critical as only a week’s stock is left in place of a reserve required for 25 days, said Rajasthan Vidyut Utpadan Nigam Ltd (RVUN) officials on Wednesday. : Economic Times

As heat cuts power in India’s ‘coal capital’, locals seek fair energy share

New Delhi : As part of his wedding preparations, Vijay Rajak had a bathroom added to his house so that his wife wouldn’t have to walk miles to a lake like other women from his village in the east Indian coal state of Jharkhand. : Economic Times

Tripura adopts Electric Vehicle Policy to promote EVs, curb pollution

Agartala : To curb vehicular pollution and save fuel, the Tripura government has adopted the Tripura Electric Vehicle Policy 2022 to promote electric vehicles, officials said here on Wednesday. : Economic Times

Right capital key to expanding renewable space, achieving climate goals: Leaders at WEF

New Delhi : Getting the capital component right will be key in expanding the renewable energy space to the scale required to meet the climate goals and multilateral institutions and political leaderships will have to play a key role in facilitating trillions of dollars required the world over, leaders said on Wednesday. : Economic Times

Jagan Mohan Reddy: Andhra Pradesh set the trend in green energy

New Delhi : Andhra Pradesh has become the torch-bearer of green energy as it is hosting the largest integrated pumped storage renewable energy project in the world, chief minister YS Jagan Mohan Reddy said in Davos on Tuesday. : Economic Times

WEF meet: “Very fruitful” for Karnataka, MoUs for Rs 52,000 cr investments signed

Bengaluru : The Karnataka government on Wednesday said the World Economic Forum Meet in Davos has proved to be “very fruitful”, as the team led by Chief Minister Basavaraj Bommai has inked pacts with two major companies for a total investment flow of Rs 52,000 crore. : Economic Times

Soon electric vehicle charging, battery swapping stations will be seen everywhere

New Delhi : There will be no shortage of charging stations for electric vehicles in the national capital, Industries minister Satyendar Jain said on Wednesday announcing three such facilities will be set up by Kejriwal government in industrial areas of the city. : Economic Times

Tripura govt to convert 60k vehicles into electric models

Agartala : The council of ministers in Tripura headed by chief minister Manik Saha in a meeting on Wednesday approved the electric vehicle policy for the next five years targeting to convert at least 10 per cent of the total vehicles into e-mode. : Economic Times

Power plants may delay installing FGDs for few years more

Nagpur : After missing previous deadlines twice for installing flue-gas desulphurization (FGD), which is a pollution-controlling technology, the coal-fired power plants in the country are once again pushing for delaying its installation. : Economic Times

BEL reports Rs 15,044 crore turnover, profit up too

Bengaluru : Defence PSU Bharat Electronics Limited (BEL) has achieved a turnover of Rs 15,044 crore during the financial year 2021-22, against the previous year’s turnover of Rs. 13,818 crore, while profit after tax stood at Rs 2,349 crore compared to Rs 2,065 crore. : Economic Times

As heat cuts power in India’s ‘coal capital’, locals seek fair energy share

New Delhi : As part of his wedding preparations, Vijay Rajak had a bathroom added to his house so that his wife wouldn’t have to walk miles to a lake like other women from his village in the east Indian coal state of Jharkhand. : Economic Times

Bill electricity buyers weekly: Govt to power producers as coal costs surge

New Delhi : The central government has asked power producers to seek weekly payments from electricity buyers to ensure adequate cash flow amid surging coal costs due to higher imports, reported Reuters. : Mint

SJVN inks pact with Tata Power Solar Systems for 1,000 MW solar project

New Delhi : State-owned SJVN Ltd on Thursday inked a pact with Tata Power Solar Systems to build a 1,000 MW solar project worth Rs 5,500 crore in Bikaner, Rajasthan. : Business Standard

Sungrow Supplies India’s Largest BESS To Tata Power Solar Systems Limited At Leh

New Delhi : Sungrow, the global leading inverter solution supplier for renewables, has recently completed with Tata Power Solar Systems Limited. : saurenergy.com

Statkraft May Supply Renewable Energy to Plants of FREYR Battery in Norway

New Delhi : Statkraft will provide up to 23 MW base-load with an accumulated delivery of 1.4 TWh to FREYR facility for the period of 2024-31. : saurenergy.com

Dearer Module, Steel And Freight Will Hit 5 GW Solar Capacity: CRISIL

New Delhi : Rise in prices of solar modules, freight and steel will have an adverse impact on 5 GW solar capacity. : saurenergy.com

Kona Energy Will Develop 200 MW Battery

New Delhi : British energy storage developer Kona Energy has recently secured permission to plan. : saurenergy.com

TotalEnergies to Acquire 50% Stake in Renewables Company Clearway for $1.6 Billion

New Delhi : TotalEnergies announced the signing of agreements with the Global Infrastructure Partners (GIP) to acquire 50% of Clearway Energy Group (CEG), a U.S.-based renewable energy company. : mercomindia.com

Investments in the Indian Solar Sector Grow 154% YoY in Q1 2022

New Delhi : Investments in the large-scale solar segment in the first quarter (Q1) of the calendar year (CY) 2022 were up by 154% compared to the same period last year. However, the numbers were down by 15% quarter-over-quarter (QoQ) compared to Q4 2021. : mercomindia.com

ACME Solar Commissions 300 MW Solar Project in Rajasthan

New Delhi : Independent power producer ACME Solar Holdings has commissioned a 300 MW solar project for the Maharashtra State Electricity Distribution Company (MSEDCL). : mercomindia.com

Equinor expects investment decision on S. Korea offshore wind farm in 2024

New Delhi : Norway’s Equinor ASA plans to make a final investment decision on what would be its first offshore wind farm in South Korea in 2024, and is considering a third project near the holiday island of Jeju, the head of its South Korean unit said. : Economic Times

Tata Power Renewable Energy commissions 100 MW solar project in Maharashtra

New Delhi : Tata Power Renewable Energy on Thursday announced the commissioning of a 100 MW solar project for Maharashtra State Electricity Distribution Company Ltd at Partur in Maharashtra. ” : Economic Times

1,240 e-buses to hit Kolkata in next 2 years

Kolkata : State transport minister Firhad Hakim on Wednesday flagged off 10 e-buses, kick-starting the operating expenses (OPEX) model for electric bus services in the city under the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME II) scheme. : Economic Times

G-7 nations can lead the way on ending coal use

Berlin, Germany : Germany’s energy and climate minister said on Thursday that the Group of Seven wealthy nations can lead the way on ending the use of coal, a heavily polluting fossil fuel that’s responsible for a large chunk of global greenhouse gas emissions. : Economic Times

Suzlon Energy net loss widens to Rs 205 crore in March quarter

New Delhi : Suzlon Energy on Wednesday reported a consolidated net loss of Rs 205.52 crore in the March quarter. The consolidated net loss of the company stood at Rs 54.25 crore in the quarter ended March 2021, according to a regulatory filing. : Economic Times

G7 ministers may pledge to phase out coal, decarbonise power: draft

New Delhi : Climate ministers from the Group of Seven economic powers will this week consider committing to phase out polluting coal-fuelled energy by 2030 and decarbonise their power sectors by 2035, according to a draft meeting communique seen by Reuters. : Economic Times

India’s high power demand driven by warm weather, says S&P Global

New Delhi : India’s power demand during May 1-17 is estimated at 196 GW and it is higher than expected as the demand is driven by sustained warmer-than-normal weather, said S&P Global Commodity Insights. : Economic Times

Mahagenco signs deal with 3 coal companies

Nashik : The Maharashtra State Power Generation Co Ltd (Mahagenco), in order to ensure adequate backup of coal during the monsoon, has signed agreements with three companies to buy an additional 13 lakh tonne of coal for its seven power stations. : Economic Times

Power Ministry mulls new scheme for discoms to pay off dues; can save Rs 19k cr late payment surcharge

New Delhi : The power ministry on Wednesday said it is working on a scheme for electricity distribution utilities (discoms) to pay off their dues mainly towards gencos, which has the potential to save Rs 19,833 crore on account of late payment surcharge. : Economic Times

Energy distribution startup Repos Energy raises $7.2 million funding from Ratan Tata, others

Mumbai : Pune-based energy distribution startup Repos Energy on Wednesday said it has raised Rs 56 crore ($7.2 million) from Ratan Tata, chairman Emeritus and other investors. The fresh capital as part of the pre-series A funding round is in a combination of equity and debt, the company said. : Economic Times

India joins US-led coalition to clean up carbon-intensive industry

New Delhi : India has joined the US-led First Movers Coalition, a flagship public-private partnership to clean up the most carbon-intensive industry sectors, from heavy industry to long distance transport. : Economic Times

India’s renewable energy journey: Two steps forward, one step back

New Delhi : Renewable energy now forms a quarter of India’s total installed power capacity – 110 gigawatts as of March 2022 – and accounts for 13 per cent of the country’s electricity generation. : Economic Times

Schneider Electric to set up 2nd unit near Hyderabad airport at Rs 300 crore

Hyderabad : French energy and automation solutions provider Schneider Electric is all set to expand its presence in Hyderabad with a second state-of-the-art facility slated to come up at an investment of 300 crore near the Rajiv Gandhi International Airport (RGIA) at Shamshabad. : Economic Times

Govt invokes emergency clause to allow compensation for 32 Gw domestic coal based plants

New Delhi : The government has invoked an emergency clause to allow compensation to 32 Gw domestic coal-based power projects for higher costs due to blending of imported coal till March next year. : Economic Times

India’s coal crunch adds to import cost woes

New Delhi : India’s coal woes show no sign of abating, with lower domestic supply expected to boost the need for imports, with this likely to keep seaborne prices at elevated levels. : Economic Times

Scheme to help discoms pay their dues

New Delhi : The union ministry of power is working on a scheme to liquidate the dues of power distribution companies under which discoms would be able to pay financial dues in easy instalments devoid of further late payment surcharge (LPSC). : Mint

India set to achieve 500 GW target from Non-fossil fuel sources by 2030: Power Minister

New Delhi : The meeting of the Parliamentary Consultative Committee attached to the Ministry of Power was held in Tehri, Uttarakhand today. Union Minister for Power and NRE Shri R. K. Singh chaired the meeting. : psuconnect.in

Power Ministry Plans Another Scheme To Solve The Discom Puzzle

New Delhi : The Ministry of Power has informed that it’s working on a scheme that will help mitigate the financial woes of the Distribution Companies (Discoms) which are unable to pay their dues. : saurenergy.com

Surat Municipal Body Saves Rs 65 Cr, Thanks To Renewable Power

New Delhi : Setting up an example as to how renewable energy can help the government to save on its scarce revenue, Surat Municipal Corporation (SMC) in Gujarat. : saurenergy.com

Iraq investing $680 million in renewable energy projects

New Delhi : Iraq authorities have approved an expenditure of one trillion Iraqi dinars or $680 million. : saurenergy.com

Delhi Govt Launches New Scheme Of Incentives To Buyers Of Electric Cycles

New Delhi : Delhi government has finally announced its promised incentive scheme for electric cycles to achieve. : saurenergy.com

Tata Power commissions 100 MW solar project in Maharashtra

New Delhi : Tata Power Renewable Energy Ltd has announced that it commissioned the 100 MW solar power project for MSEDCL. : saurenergy.com

UAE Leads In RE Expansion In Past Decade Worldwide

New Delhi : The Green Fuel Index report released by ‘Compare the Market’ – an Australia-based aggregator. : saurenergy.com

Haryana Regulator Rejects Captive Generator’s Plea to Adjust Banked Energy Period

New Delhi : The Haryana Electricity Regulatory Commission (HERC) recently rejected a captive power generator’s request to adjust the banked energy for one : mercomindia.com

Uttar Pradesh Regulator Adopts Tariff for Procuring Non-Solar Renewable Power

New Delhi : The Uttar Pradesh Electricity Regulatory Commission (UPERC) recently adopted the tariff to procure non-solar renewable power from July 2022 to September 2022. : mercomindia.com

JSW to Acquire Mytrah Energy for $2 Billion

New Delhi : Indian multinational conglomerate JSW Group has signed an agreement to buy renewable energy producer Mytrah Energy India in a deal expected to be worth $1.8 billion (~$139.27 billion) to $2 billion (~$154.74 billion), according to Mercom sources. : mercomindia.com

Egypt Will Generate 10GW Renewable Energy Next Year

New Delhi : The government of Egypt is looking to expedite the renewable energy projects in the country. : saurenergy.com

Daily News Wrap-Up: Power Minister Urges States to set up Energy Transition Committees

New Delhi : Union Minister of Power and New & Renewable Energy R.K. Singh asked the states and Union territories to set up steering committees for the energy transition. He said they should work together to add more renewables to the electricity generation mix. : mercomindia.com

Oil and Gas

KG basin: NGT panel raises oil sludge issue

Hyderabad : A NGT-appointed joint committee said oil sludge effluent spillage was posing threat to Krishna-Godavari basin owing to the ONGC not taking proper measures for collection, storage and disposal of oil sludge from its three gas gathering stations (GGS) in AP’s Konaseema district. : Economic Times

Shell in talks with Indian energy consortium to sell Russian LNG plant stake: Sources

New Delhi : Shell is in talks with a consortium of Indian energy companies to sell its stake in a major liquefied natural gas plant in Russia which the British company abandoned following Moscow’s invasion of Ukraine, three sources said. : Economic Times

ONGC offers stake in KG block to foreign firms

New Delhi : State-owned Oil and Natural Gas Corporation (ONGC) is offering a stake to foreign companies in its ultra deepsea gas discovery and a high-pressure, high-temperature block in the KG basin as it looks for financial and technological help to bring the challenging fields to production. : Economic Times

ONGC to boost exploration with $4 bln investment over 3 years

New Delhi : India’s state-owned Oil and Natural Gas Corp will invest 310 billion rupees ($4 billion) in the fiscal years 2022-2025, a growth of 50% over the last three year period, to intensify its exploration efforts, it said in a stock exchange filing. India, the world’s third biggest oil importer and consumer, ships in over 80% of its oil needs. : Economic Times

Govt calls off present EOI process for BPCL divestment

New Delhi : Following the multiple waves of COVID-19 and the current geopolitical strife between Russia and Ukraine, the government has called off the present expression of interest (EoI) process for strategic disinvestment of state-run refiner BPCL, the Department of Investment and Public Asset Management (DIPAM) said on Thursday. : Economic Times

Govt calls off BPCL privatisation process, will do ‘comprehensive review’

New Delhi : The Centre has called off the privatisation process of Bharat Petroleum Corporation (BPCL) for now after two of the three companies that had shown interest in acquiring the public sector undertaking (PSU) withdrew their bids. : Business Standard

There’s a flipside to buying Russian oil with a $35 discount

New Delhi : India wants to go on trading with Russia for reasons that are more practical than to swipe at the West. For one thing, New Delhi relies heavily on Moscow for defense procurement, a dependency that will be hard to shed overnight with new suppliers. : Economic Times

BPCL’s strategic divestment called off as most bidders express inability to participate

New Delhi : Following the multiple waves of COVID-19 and the current geopolitical strife between Russia and Ukraine, the government has called off the present expression of interest (EoI) process for strategic disinvestment of state-run refiner BPCL, the Department of Investment and Public Asset Management (DIPAM) said on Thursday. : Economic Times

ONGC offers stake to global oil companies; check deadline

New Delhi : Public Sector Undertaking Oil and Natural Gas Corporation is seeing the global oil companies to expand and develop their field. India’s largest oil and gas producer company is offering a stake worldwide in oil companies. : psuconnect.in

Oil stocks lift European shares but rate-hike worries limit gains

New Delhi : European shares opened slightly higher on Thursday, helped by energy stocks on the back of gains in oil prices, even though sentiment remained subdued as major central banks signalled continued policy tightening to control rising inflation. : Economic Times

Centre calls off EoI process for strategic divestment of BPCL

New Delhi : The Government Today on May 26 has called off the inviting expression of interests (EOIs) for the strategic disinvestment of Bharat Petroleum Corporation Ltd (BPCL). : psuconnect.in

ONGC to sell stake, seeks global oil firms’ help to develop fields

New Delhi : India’s top explorer Oil and Natural Gas Corporation is offering a stake to global oil companies to help develop challenging fields off the country’s east coast, according to a tender document. : Business Standard

ONGC looks to sell stake to global companies

New Delhi : Oil and Natural Gas Corp (ONGC) is seeking equity partnership with global players that can bring technical expertise as well as financial muscle to help develop two difficult fields off the eastern coast. : Economic Times

Oil prices jump 3% to 2-month high as EU seeks to ban Russian supply

New York : Oil prices rose about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union (EU) wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine. : Business Standard

BPCL reaches out to more than 12,000 beneficiaries through Health Care Program

New Delhi : BPCL reaches out to more than 12,000 beneficiaries at Village Gangoli in Mewat, Haryana, by setting up multi-specialty health infrastructure through Jan Arogyam Community Health Care Program. : psuconnect.in

US seizes Iranian oil cargo near Greek island: sources

London : The United States has confiscated an Iranian oil cargo held onboard a Russian-operated ship near Greece and will send the cargo to the United States aboard another vessel, three sources familiar with the matter said. : Economic Times

Rosneft boosts production with domestic innovations

New Delhi : Orenburgneft, Rosneft’s subsidiary and part of its oil and gas production segment, has achieved record oil production results from introducing domestic innovations. : Economic Times

Govt calls off present EOI process for BPCL divestment

New Delhi : Following the multiple waves of COVID-19 and the current geopolitical strife between Russia and Ukraine, the government has called off the present expression of interest (EoI) process for strategic disinvestment of state-run refiner BPCL, the Department of Investment and Public Asset Management (DIPAM) said on Thursday. : Economic Times

How Vladimir Putin’s war ended Narendra Modi’s cheap natural gas dream

New Delhi : Call it poor judgment or bad luck, but India’s expansion of natural gas coverage to more than 90 per cent of its population couldn’t have come at a worse time. In January, Adani Total Gas Ltd. and others won keenly contested licenses to add new areas to city gas networks; in February, Vladimir Putin invaded Ukraine. Suddenly, billions of dollars in investment are on shaky ground. : Economic Times

Hydrogen-powered electric bus to begin trial in Aussie state

Sydney : The Australian state of New South Wales (NSW) announced on Wednesday that its first trial of a hydrogen-powered electric bus will begin later this year in a transition to zero-emission technology. : Economic Times

Oil firms on tight supply though EU ban on Russian oil still uncertain

Melbourne : Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to ban imports from Russia, the world’s second-largest crude exporter, after it invaded Ukraine. : Economic Times

Infrastructure plan: $33M to clean up hundreds of oil wells

New Delhi : About $33 million of the $1 trillion bipartisan infrastructure plan recently signed into law by President Joe Biden will go toward cleanning up 277 of an estimated 15,000 abandoned oil and gas wells on federal land, the nation’s interior secretary said Wednesday. : Economic Times

OPINION: UK diesel shortage shows need for caution on sanctions: Kemp

London : Like the east coast of the United States, Britain was experiencing a severe shortage of distillate fuel oil even before Russia’s invasion of Ukraine, which sanctions now threaten to make much worse. : Economic Times

The risk of the fiscal that fuel cuts bring

New Delhi : The Union government announced steep tax cuts on petrol and diesel on Saturday. This was in addition to GoI announcing a bloated fertiliser and food subsidy bill. Together, these will further disbalance the fisc. : Economic Times

India to continue buying ‘cheap’ Russian oil, discount to be finalised: source

New Delhi : India will continue to buy “cheap oil” from Russia but has not finalised terms of the discount, a senior government official familiar with the matter said on Wednesday. : Economic Times

No decision on cut in tax on ATF

New Delhi : The finance ministry has not yet taken a view on the civil aviation ministry’s plea for tax cuts on jet fuel (ATF) to bring down prices, a top source said on Wednesday. : Economic Times

Oil price climbs on tight supply, prospect of EU ban on Russian supply

London : Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to ban imports from Russia, the world’s second-largest crude exporter, after it invaded Ukraine. : Business Standard

Shell may sell Russian LNG plant stake to Indian consortium: Report

New Delhi : Shell is in talks with a consortium of Indian energy companies to sell its stake in a major liquefied natural gas plant in Russia which the British company abandoned following Moscow’s invasion of Ukraine, three sources told Reuters. : Business Standard

ONGC to invest Rs 31,000 cr over next 3 years in finding oil, gas

New Delhi : India’s top oil and gas producer ONGC on Thursday said it will invest Rs 31,000 crore over the next three years in exploring the Indian sedimentary basin for fuel reserves which could augment the nation’s production in its attempt to be self-reliant in the energy sector. : Business Standard

Pump owners protest, say will not buy fuel on May 31

Mumbai : Petrol dealers across the state will protest by not purchasing fuel for one day on May 31, demanding an increase in dealer margin/commission which, they say, has not been raised since 2017. : Economic Times

Uttar Pradesh has slashed VAT on petrol,diesel, CM Yogi Adityanath tells UP Assembly

Lucknow : Chief minister Yogi Adityanath on Wednesday informed the house that the value added tax (VAT), imposed by the state government on diesel and petrol, has been further reduced by Rs 1.03 and Rs 1.40 per litre, respectively, after the Centre slashed the excise duty on the fuel three days ago. : Economic Times

Vietnam company to invest $840 mln in country’s first green hydrogen plant

New Delhi : Construction is due to start on Vietnam’s first green hydrogen plant next month, the government said on Wednesday, as the Southeast Asian country seeks to boost the use of cleaner energy while reducing dependence on coal in its power mix. : Economic Times

Govt exploring rupee-rouble payment for fuel import amid sanction: Report

New Delhi : The government is exploring a payment mechanism for the import of oil from Russia in view of the sanctions imposed by the US and European countries following Moscow’s attack on Ukraine. : Economic Times

RIL, HPCL-Mittal Energy, Jindal group among JBF Petro suitors

New Delhi : Reliance Industries, an HPCL-Lakshmi Mittal joint venture and two Jindal group companies are among seven entities that have shown interest in buying bankrupt JBF Petrochemicals, a purified terephthalic acid (PTA) manufacturer with outstanding debt of ₹4,700 crore, according to multiple sources. : Economic Times

OPEC+ set to stick to modest output hike for July: sources

New Delhi : OPEC+ is set to stick to an oil production deal agreed last year at its meeting on June 2 and raise July output targets by 432,000 barrels per day, six OPEC+ sources told Reuters, rebuffing Western calls for a faster increase to lower surging prices. : Economic Times

Sarkaritel
By Sarkaritel May 27, 2022 09:06