Speaking about the potential hike in fuel prices, India’s Oil Minister Hardeep Puri reassured the public while acknowledging the pressure on oil companies. The minister highlighted the importance of proactively addressing the economic strain caused by current fuel pricing strategies.
REC Ltd’s board has approved a significant market borrowing plan. For the fiscal year 2026-27, the company will raise Rs 1.6 lakh crore. This borrowing will be done through various instruments including tax-exempt bonds, debentures, term loans, and commercial papers. The funds will be utilized based on actual needs and market conditions.
The former promoters of Bhushan Steel and Power Limited have appealed to the Supreme Court. They want their review petition against the company’s liquidation order to be heard in open court. The petition challenges the previous verdict which had set aside JSW Steel’s resolution plan. The promoters argue that the assigned liquidation value was too…
Reliance Industries will shut a crude unit and secondary units at its 660,000 barrels per day refinery for three to four weeks. This maintenance is scheduled for later this month. The shutdown will begin around mid-May. This timing follows Nayara Energy’s planned resumption of operations at its refinery. The move aims to prevent any fuel…
Unseasonal rains significantly impacted India’s power consumption in March, causing a marginal 1.8% growth to 149.56 billion units. Lower temperatures reduced the use of cooling appliances, delaying the summer demand surge. Experts anticipate continued subdued growth in April due to persistent rainfall, though some regions may experience higher temperatures.
The Atomic Energy Regulatory Board (AERB) has granted approval for excavation activities for Units 1 and 2 of the Mahi Banswara Rajasthan Atomic Nuclear Power Project (MBRAPP). This project, a joint venture between NPCIL and NTPC, will feature 700 MWe pressurized heavy water reactors. The foundation stone for the Rs 42,000 crore project was laid…
Several oil tankers have turned back in the Persian Gulf. This follows Iran’s mixed signals on keeping the Strait of Hormuz open. Shipowners are uncertain about transit. Five Greek and Indian tankers halted journeys early Saturday. Warnings were reportedly broadcast over radio. The situation creates confusion for global oil trade.
A gas pipeline at ONGC’s Mori-5 well in Andhra Pradesh’s Dr B R Ambedkar Konaseema district caught fire on Monday following a leakage. Operated by Deep Industries Ltd, the well experienced the blaze during production enhancement operations. Fortunately, no casualties were reported. Senior ONGC officials and district administration are on-site to assess the situation and…
India prioritises energy security, emphasising the need for a clear global energy market perspective without double standards, according to Foreign Secretary Vikram Misri. This statement follows EU sanctions targeting Russia’s energy sector, including restrictions on the Vadinar refinery.
India’s petrol pump network has surpassed 100,000 outlets, nearly doubling in the last decade. This expansion has improved fuel access in rural areas and intensified competition. While private players hold less than 10% of the market, concerns exist about the economic sustainability of such rapid growth.