(ET) State Bank of India is creating a policy to lend to coal miners before landmark auctions that would end decades of state monopoly on the fuel, according to a person with knowledge of the matter. Long-term offtake contracts assuring demand will be central to any lending decision, the person said, asking not to be identified before terms are finalized. The nation’s biggest bank would prefer a loan tenor closer to five years, the person added. The planned policy suggests SBI is open to providing some of the financing required to put 41 coal mines with a combined annual production capacity of 225 million tons into private…
Author: Aruna Sharma
(ET) State-run Bharat Petroleum Corporation Ltd (BPCL), which is set to be privatised, has resumed work on 2,118 projects worth an estimated investment of Rs 50,300 crore, the company said in a statement on Wednesday, a day after oil minister Dharmendra Pradhan reviewed projects of state-run oil and gas companies. The company has set a capex (capital expenditure) target of Rs 9,597 crore in 2020-21 and has spent Rs 1,650 crore till August 15, Rs 380 crore payout as labour cost. Nearly 8 crore man-days of direct and indirect employment are expected to be generated until the completion of these projects. Some 1.6 crore man-days of employment are targeted…
(PTI) State-owned oil firms plan to spend about Rs 1.2 lakh crore in the fiscal year to March 2021 on oil and gas exploration and production and refineries in a bid to boost economic activity in the nation that has been hit hard by the COVID-19 pandemic. As much as Rs 5.88 lakh crore of spending is budgeted for 8,363 projects over the next few years, an official statement said. “Out of the total anticipated cost of these projects, approximately Rs 1.20 lakh crore is targeted to be incurred as capex in FY 2020-21,” it said. Oil minister Dharmendra Pradhan reviewed all ongoing projects of oil and gas companies in a bid to turn…
(ET) Saudi Aramco reshuffled its senior management and created a division focused on “portfolio optimization” as the world’s biggest oil producer adapts to low crude prices and seeks new ways to raise cash. The Saudi state energy company appointed Senior Vice President Abdulaziz Al Gudaimi to lead a new team that will “assess existing assets” and boost access to “growth markets,” it said Sunday in a statement. He will report to the Chief Executive Officer Amin Nasser and start in his new role on September 13. Aramco is adjusting to weaker energy prices as the coronavirus pandemic hammers the global…
(AU) मौसम विभाग ने मंगलवार को देहरादून सहित तीन जिलों में कुछ जगहों पर भारी बारिश की आशंका जताई है। इसके मद्देनजर विभाग ने येलो अलर्ट जारी किया है। प्रदेश के बाकी हिस्सों में हल्की से मध्यम बारिश हो सकती है।मलबा आने से बंद पड़े चारधाम यात्रा मार्ग, अतिवृष्टि से पंचायत घर क्षतिग्रस्त सोमवार को प्रदेशभर में सुबह की शुरुआत तेज धूप से हुई। हालांकि दोपहर होने तक आसमान में बादल छाने लगे। दोपहर बाद देहरादून सहित कई इलाकों में हल्की बारिश दर्ज की गई। मौसम विभाग के निदेशक बिक्रम सिंह ने बताया कि प्रदेश में फिलहाल अत्यधिक भारी बारिश का…
(PTI) State-owned Oil and Natural Gas Corporation (ONGC) said its board will meet on September 1 to consider raising funds of up to Rs 45,000 crore. The board will also consider and approve the company’s financial results for the June quarter on the said date, ONGC said in a BSE filing. It will consider raising of funds “by way of availing Bank loan(s) and/ or issue of debt instruments (including bonds, NCDs and notes) in domestic and/or overseas market including drawdown(s) under Euro Medium Term Note (EMTN) programs not exceeding Rs 35,000 crore,” it said.
(AU) सरकारी तेल कंपनियों की ओर से आज डीजल की कीमत में कोई बढ़ोतरी नहीं की गई है। हालांकि पेट्रोल की कीमत में मंगलवार को एक बार फिर 09 से 11 पैसे की बढ़ोतरी कर दी गई। इससे पहले 30 जुलाई को दिल्ली सरकार ने डीजल के दाम मेें 8.36 रुपये की कटौती थी जिससे दिल्ली में डीजल का दाम बाजार में 73.56 रुपये प्रति लीटर हो गया था। पेट्रोल-डीजल की कीमत आप एसएमएस के जरिए जान सकते हैं। इंडियन ऑयल की वेबसाइट के अनुसार, आपको RSP और अपने शहर का कोड लिखकर 9224992249 नंबर पर भेजना होगा। हर शहर का कोड…
(PTI) State-owned Coal India on Monday said Yatinder Prasad, joint secretary and financial advisor with the Ministry of Coal, has been appointed on its board. Prasad is a 1993-batch Indian Audit and Accounts Service officer, Coal India Ltd (CIL) said in a BSE filing. “Yatinder Prasad, JS&FA, Ministry of Coal has been appointed as government nominee Director in CIL Board w.e.f August 24, 2020,” the filing said. She is also joint secretary and financial advisor (JS&FA) for the ministries of tribal affairs and mines. Prasad is also on the board of National Scheduled Tribes Finance & Development Corporation and Tribal Cooperative Marketing Development Federation of India Ltd.
(ET) Uttar Pradesh Chief Minister Yogi Adityanath on Monday virtually attended stone-laying foundation ceremony of Small Industries Development Bank of India’s (SIDBI) new green building. He said, “This new concept of SIDBI’s green building, reflects Prime Minister Narendra Modi’s vision where we all work together to save energy and encourage green energy.” “The provision of recycling water, utilisation of solar energy will be facilitated in this green building of SIDBI,” he added. Adityanath further said that for the state with the highest population in the country, i.e., Uttar Pradesh and the MSME sector, SIDBI is an important institution. “For the encouragement of the MSME sector,…
(ET) Union Road Transport and Highways Minister Nitin Gadkari on Monday promoted a pilot project to run electric buses with private investment. “If anyone is ready to invest in India, we can give him a pilot project for a city, where they can run their buses on electricity. Running their buses through electricity, they will get good margin compared to diesel. However, the ticket rate will remain the same. It is an attractive project due to saving between diesel and electricity,” Gadkari said while addressing the 4th UITP India Bus seminar, through video conference. He added that it was to be seen whether the same method could…