Friday 24 June 2011
EGoM has taken decision on increase of fuel prices
EGoM has taken decision on increase of fuel prices, Diesel prices hiked by 3rs/ltr, Kerosen oil Prices hiked by 2 rs/ltr. And LPG prices increased by 50 rs/cylinder. Govt. Has reduced improt duty on crude by 5%
Maruti Suzuki head Says that strike causes a Very negligible lose
The head of Suzuki Motor Corp said that the strike that lasted six working days at the Manesar factory of subsidiary Maruti Suzuki India was negligible, leading to an output loss of just 16,000 vehicles.
ONGC likely to file papers for FPO after Govt. decision on Cairn Vedanta
State-owned Oil and Natural Gas Corp is probably going to file papers for a Rs 11,500 crore share sale when the govt. offers its verdict on its dispute with Cairn India .ONGC is in dispute with Cairn India over royalty payments on the later's showpiece Rajasthan oilfields and also the government is anticipated to relinquish its verdict when cupboard decides on UK's Cairn Energy selling stake in its Indian unit to London-listed mining cluster Vedanta Resources.
L&T gets Rs 1,610 crore orders from Tata Steel, Indiabulls
L&T’s metallurgical and materials handling company, part of its construction division, has received new orders worth Rs 1,610 crore from Tata Steel , Indiabulls power and other customers in the first quarter.
L&T has got Rs 240 crore order from Indiabulls Power for civil and construction works for coal handling and ash handling plants for its thermal power projects in Maharashtra’s Amravati and Nasik.
L&T said it plans to construct the first coke oven battery at the plant in 2.5 years. Apart from the coke oven plant, it also received several orders for steel melt shop construction from Tata Steel, the company said.
L&T has got Rs 240 crore order from Indiabulls Power for civil and construction works for coal handling and ash handling plants for its thermal power projects in Maharashtra’s Amravati and Nasik.
L&T said it plans to construct the first coke oven battery at the plant in 2.5 years. Apart from the coke oven plant, it also received several orders for steel melt shop construction from Tata Steel, the company said.
Bharti makes final payment of USD 700 million to Zain
Bharti makes final payment of USD 700 million to Zain. Zain said payment completed Zain-Bharti transaction.
EGoM has given nod for 5 lakh tonne sugar exports
EGoM has given nod for 5 lakh tonne sugar exports. However, Food Ministry said there was no decision yet on easing stock limits on sugar
SEBI & RBI ordered Shara Group co.s to return the money to investors and depositors
SEBI & RBI two big regulators ordered Shara Group co.s to return the money to investors and depositors and get out. Your money-raising business is risky for investors.
Lanco Infra faces A$3.5 bn lawsuit in Australia
Lanco Infra dragged to court in Australia by Multinational Perdaman Industries seeking a A$3.5 billion compensation for not complying with coal supply pact.
For its upcoming urea plant, Perdaman had entered into a 25-year coal supply pact with Griffin Coal, which was acquired by diversified group Lanco for A$730 million in March 2011.
For its upcoming urea plant, Perdaman had entered into a 25-year coal supply pact with Griffin Coal, which was acquired by diversified group Lanco for A$730 million in March 2011.
International Energy Agency releases oil reserves to boost economy
Oil consumer nations announced a surprise unharness from strategic government petroleum stockpiles in a very bid to push down fuel costs and underpin the world economy.The 28-member International Energy Agency said it'd unharness sixty million barrels each day over an initial thirty days to fill the gap left by the disruption to Libya's output.
The u. s. can offer 0.5 the volumes from its huge 727-million barrel crude reserve, about 1.5 days people consumption, with Europe supplying half-hour in crude and refined merchandise and therefore the rest from Pacific OECD nations.The unharness, solely the third within the IEA's 37-year history, may be a blow for the Organization of the Petroleum Exporting Countries and especially for its biggest producer, Saudi Arabia, an in depth US ally.
Despite Saudi efforts, the producer cartel did not raise output at a gathering on June eight leaving Riyadh to pump additional unilaterally.Before the OPEC meeting Riyadh had mentioned a crude swap with the u. s. that may have seen US reserves equipped to Europe, however did not reach agreement."The move is critical because it represents a reach by member countries for the remedy of last resort to high costs," said US energy analyst John Kilduff at once more Capital."Clearly the energy value spike is being cited because the reason for the economic slowdown and this is often reaction to that. The Libyan outage provides sensible cowl."OPEC member Libya was exporting regarding 1.2 million bpd before the rebellion that brought its oil business to a standstill.
The u. s. can offer 0.5 the volumes from its huge 727-million barrel crude reserve, about 1.5 days people consumption, with Europe supplying half-hour in crude and refined merchandise and therefore the rest from Pacific OECD nations.The unharness, solely the third within the IEA's 37-year history, may be a blow for the Organization of the Petroleum Exporting Countries and especially for its biggest producer, Saudi Arabia, an in depth US ally.
Despite Saudi efforts, the producer cartel did not raise output at a gathering on June eight leaving Riyadh to pump additional unilaterally.Before the OPEC meeting Riyadh had mentioned a crude swap with the u. s. that may have seen US reserves equipped to Europe, however did not reach agreement."The move is critical because it represents a reach by member countries for the remedy of last resort to high costs," said US energy analyst John Kilduff at once more Capital."Clearly the energy value spike is being cited because the reason for the economic slowdown and this is often reaction to that. The Libyan outage provides sensible cowl."OPEC member Libya was exporting regarding 1.2 million bpd before the rebellion that brought its oil business to a standstill.
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