DIESEL PRICE CUT: After Airtel & Idea, Reliance to target IOCL, HPCL, BPCL?

Reliance Industries, which started giving a discount of Re 1 on every liter of diesel sold through its pumps in January, has now started advertising the offer in Kerala. The discount was first noticed in January in North and West Indian towns. The move was, at the time, not taken very seriously by players such as Indian Oil Corporation and Hindustan Petroleum Corporation, who felt that it was a response to the discounts offered by state-owned companies to promote electronic payment. In the aftermath of demonetization, state-owned players including Bharat Petroleum…

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India Oil, BPCL, HPCL merger will reduce wastage of resources- Fitch

A proposed merger of Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp will reduce inefficiencies across the sector and result in enormous savings, ratings agency Fitch said. It would also create an entity that is better placed to compete globally for resources, and less vulnerable to shifts in oil prices and give it much stronger bargaining power with suppliers, and greater financial clout to secure oil resources it said. Between these three companies, they control nearly 98% of India’s diesel, petrol and LPG market. Most Asian countries have…

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Explosion at BPCL refinery in Kochi

There has been an explosion at the oil refinery in Kochi, operated by Bharat Petroleum Corporation Ltd. The explosion happened at the electricity generation plant at the refinery. The power plant works on gas and was undergoing maintenance. The BPCL refinery is crucial to the supply of oil products such as petrol, diesel and LPG to Kerala as a whole. Two workers have been injured, including one who has seen serious injuries. UPDATE: Sources suggest that two people lost their lives in the incident. The incident happened at 10 AM….

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Mumbai’s Viviana Mall installs India’s largest rooftop solar plant

Viviana Mall in Mumbai has installed one of the largest single-site solar plants in India. The mall, located in Thane, has constructed a 900,000 volt-ampere rooftop solar power plant, which the company said was the biggest in India. 900,000 volt-ampere refers to the peak capacity of the power plant. It implies that at full power (during noon on a sunny day for example), you can power 80,000 LED lamps using the electricity generated by the rooftop panels, or operate 9,000 LCD televisions. The plant will be able to generate about…

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IOC, BPCL to set up three bio-ethanol plants with Praj Industries

Praj Industries said it had entered into agreements with Indian Oil Corporation and Bharat Petroleum Corporation Ltd to set up bio-ethanol plants that will convert agricultural waste into fuel. A total of three plants will be construct — two for IOCL and the remaining one for BPCL. The company said it signed a binding agreement of cost sharing with Indian Oil Corporation Limited to set up one plant each at Panipat, Haryana and Dahej, Gujarat. The plants will have capacity to produce 100 Kilo litres of ethanol per day, it…

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Anil Ambani’s Reliance Infra sells transmission assets to Adani

Following on the heels of its announcement to sell its transmission assets to Adani Group, Reliance Infrastructure today said it has signed a share purchase agreement with Adani Transmission for the sale of 100% of its Western Region System Strengthening Scheme Transmission Assets. “SPA for Parbati Koldam Transmission Company Limited (PKTCL) shall be executed upon receipt of approval from Power Grid Corporation of India Limited (PGCIL) and other statutory approvals,” the Anil Ambani company said. RInfra owns the country’s first 100% private sector transmission project – WRSSS B & C…

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Delhi Pollution Control Board extends shutdown of NTPC Badarpur plant till January

NTPC Ltd said the Delhi Pollution Control Committee has given directions to keep all its units in Badarpur Thermal Power Station closed till January 31, 2017. The reason for the committees direction has not been disclosed by NTPC. However, the reason is likely to be concerns around poor air quality in Delhi. The plant was first shut down earlier this year to cope with the rising pollution in the city. NTPC Limited is an Indian public sector undertaking incorporated under the Companies Act 1956. The headquarters of the company is…

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Adani Group commissions India’s largest tracker solar plant

Infrastructure company Adani Enterprises Ltd said it commissioned India’s largest tracker-based solar power plant at Bhatinda in Punjab. The 100 megawatt plant is also the largest solar project in Punjab. Tracker plants are those with motorized panels that keep tracking the sun as it moves across the sky. Compared to fixed panels, tracking panels generate 30-35% more energy. This plant will be India’s biggest horizontal single axis tracker plant at a single location. The annual energy yield is expected to be approximately 88,000 Mwh. Adani said the Bhatinda project was completed…

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India adds 1,732 MW of hydro-power capacity

Prime Minister Narendra Modi inaugurated three hydro-electric projects in Himachal Pradesh, representing 1,732 MW of generating capacity, to the nation today. The biggest of the three is NTPC’s Koldam, which has four generating units of 200 MW each. The second biggest was Parbati Stage-III, which comprises 4 units of 130 MW each and is operated by NHPC. The third one, Rampur hydro-electric project, has 6 units of 68.67 MW each and is operated by SJVN. All were built with generating equipment supplied and commissioned by Bharat Heavy Electricals Limited (BHEL)….

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Anil Ambani’s Reliance Defence and Engineering to enter the oil rig business

Reliance Anil Ambani Group said its unit Reliance Defence and Engineering Ltd partnered with US-based oil rig comopany ALLRIG to provide jack-up rigs, drilling rigs and other floating fixed oil & gas assets in India. “The association will be helpful in providing solutions for class approved spares, repairs, upgradation and warranty support for critical equipments for older assets where OEM support is not feasible. The step is expected to strike the right cord with the offshore asset owners operating in the Indian subcontinent, who have to look towards other far-off…

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ABB creates record with 1.2 mln volt transformer for new India grid

Power generator ABB said it developed, manufactured and energized a 1.2 mln volts ultra high voltage power transformer to support India’s plans to build a 1,200 kV transmission system. The new grid will supplement the existing 400 kV and 800 kV networks as demand for electricity increases. “The 1.2 million volt transformer represents the highest alternating current voltage level in the world and is installed at the national test station at Bina, Madhya Pradesh in Central India,” the company said. The transformer was manufactured and tested at ABB’s facility in…

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Reliance Infra sells 100% stake in transmission business to Adani Group

Reliance Infrastructure Limited today said it agreed to sell all itstransmission assets to Adani Transmission Limited, the largest private power transmission company operating in India. This acquisition is expected to be completed in current financial year. The entire sale proceeds shall be utilized for debt reduction, said the company. The transaction is in line with the strategic plan of monetizing non-core business and focus on major growth areas like Defence and EPC business, the company added. The deal will see the 100% acquisition of  Western Region Strengthening System Scheme B (WRSSS B)…

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Government approves ONGC Videsh acquisition of Russian oil field

Government of India said it has given its approval to an acquisition by ONGC Videsh Limited for 11% stake in JSC Vankorneft from Rosneft Oil Company, the National Oil Company of Russian Federation. Rosneft operates Vankor fields with Vankorneft being its wholly owned subsidiary. OVL will be paying an amount of US $ 930 million for acquiring 11% stake in Vankorneft. The acquisition of stake in Vankorneft will provide 3.2 Million Metric Ton of Oil Equivalent to OVL by 2017. It will also provide an opportunity to Indian public sector…

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ABB to install 600 KW solar energy in its Vadodara facility

ABB, a power and automation technology company, today said it will install a 600 KW fully integrated and standardized microgrid solar energy at its Vadodara facility in Gujarat to help boost renewable energy generation while reducing dependency on fossil fuel. This microgrid with a rooftop photo voltaic field at the company’s biggest manufacturing location in India with around 3,000 employees will help ensure uninterrupted power supply, said the company. Microgrids are considered a viable and cost-efficient solution to not only improve access to electricity but also to address other pressing…

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NHPC extends power purchase for 35 years

Hydro power company NHPC Ltd said the power purchase agreements for its two power stations, Teesta-V power station and Rangit power station has been extended for another 35 years. Teesta-V has power generating capacity of 510 MW, while Rangit station has a capacity of 60 MW. The agreement extension is from the date of commercial operation of last unit in respect of both power stations. The said purchase agreements are with beneficiaries of Bihar (North Bihar & South Bihar), Sikkim and Damodar Valley Corporation. NHPC is an Indian Hydropower generation company…

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IGL to set up city gas network in Rewari, Haryana

Indraprastha Gas, the supplier of CNG and PNG in Delhi, has been authorized to construct the City Gas Distribution (CGD) network in Rewari in Haryana. Addressing the shareholders, Mr. Ravindran also gave an overview of future plans of the organization involving consolidation of its presence in existing areas as well as expansion in new geographies in view of the focus of the government to move the country towards a gas based economy. Referring to various initiatives taken by the government recently like developing national gas grid to cover all corners…

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India to acquire stake in Russian oil fields, to invest US $3.2 billion

Indian government approved the acquisition of stakes in two Russian oil fields for US $3.2 billion. A consortium of Oil India Limited, Indian Oil Corporation Limited and Bharat Petro Resources Limited (BPRL) will acquire 23.9 percent stake in JSC Vankorneft and 29.9 percent stake in LLC Taas-Yuryakh from Rosneft Oil Company, the National Oil Company of Russian Federation. The acquisition of stake in Vankorneft will provide output of 6.56 million metric ton of oil equivalent per year and the other deal will provide 0.5 MMTOE initially and 1.5 MMTOE by…

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HPCL, Aditya Birla Fashion to start accepting ICICI Bank’s UPI payments

ICICI Bank said it has tied up with Hindustan Petroleum Corporation Ltd and Aditya Birla Fashion and Retail Limited to offer UPI based payments their retail outlets. The bank also said it has become the first in India to have 1 lakh registered virtual payment addresses under the platform. UPI, or unified payment interface, is a standard created by the National Payments Corporation of India to uniformize the mobile payments and transfers platforms in the country. A total of 21 banks have been brought onto the platform so far, including…

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Suzlon wins cumulative orders of 111.3 MW projects in August-September

Renewable energy company Suzlon Group said it has won orders for a combined capacity of 111.30 MW in August and September, which includes Serum Institute of India Ltd, Rajasthan Gum Group. “The corporate and SME orders have been received from mixed bag of customers across diverse industry segments including chemical, infrastructure, manufacturing, textiles, power, entertainment, food & agro, handicrafts, logistics, trading and pharma and is scheduled to be completed by March 2017,” said the company. Suzlon will provide the entire spectrum of turnkey solutions right from equipment supply till commissioning and…

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Government approves Rs 5,176 crore fund for GAIL’s gas pipeline project

The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, said it has approved capital funding of Rs 5,176 crore to GAIL for development of 2539 km long Jagdishpur-Haidia and Bokaro-Dhamra gas pipeline project. The approved fund will be 40% of the total capital cost of Rs 12,940 crore for the project. Government of India has taken this historic decision to provide capital support for developing this gas pipeline which will connect eastern part of the country with National Gas Grid. It will ensure the availability…

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