The government is seeking bids to fill 19 million barrels of crude oil in Padur under first phase of development in 3-4 months.
OPEC expects global primary energy demand to rise 33 percent between 2015 and 2040. About 24 percent of this will be from India.
An official of Petroleum and Natural Gas Regulatory Board said the round is under planning and some decisions could affect timing.
The Middle East nation also assured of increased oil production in a month—in line with India’s long-standing demand.
Ajay Singh, chairman and managing director of SpiceJet Ltd., said a 10-12 percent fare hike won’t affect flyers.
Two state-run Indian oil companies have placed requests to buy Iranian crude in November.
Fuel price cut will have some impact on marketing margins of private oil marketers, said B Anand, the CEO of Nayara Energy.
SoftBank offered to supply free solar power to members of International Solar Alliance after pact completes 25 years.
India plans to start 5,000 compressed biogas plants over the next four years to curb oil imports and improve farm incomes.
A tepid response forced the government to extend the deadline for auctions the second time.
Can tackle coal shortage by opening more mines, said RK Singh, minister for power & new and renewable energy (independent charge).
The project, which will start production in 36 months, will help cut import of natural gas and fertiliser, Modi said.
Prices of power in the spot market rose to a nine-year high in September due to soaring electricity demand in many states.
PFC hopes to resolved seven stressed projects as Supreme Court’s status quo gives time till Nov. 14.
India is finalising new rules that govern coal auctions as it aims to attract more bidders after poor response to recent auctions.
Spicejet plans to increase cargo capacity to 40,000-50,000 tonnes a month to offset losses.
Narendra Modi said India plans to come up with a stable policy soon for electric vehicles and alternative fuel-driven transport.
India plans a national policy to push battery-powered transport.
The Anil Agarwal-owned Cairn India looks to more than double its output.
Spicejet conducts India’s first ever biojet fuel
Private power producers had sought a special relief from the RBI’s Feb. 12 circular.