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The Times of India February 04
RIL to return some KG fields to govt
NEW DELHI: Top Reliance Industries officials told Parliament's public accounts committee (PAC) that the company will return offshore areas at Krishna-Godavari gas fields to the government this year in keeping with provisions of its contract that the Comptroller and Auditor General has said the oil major has violated. More...

Deccan Herald February 04
British energy minister resigns
Police said they would prosecute him for allegedly perverting the course of justice in relation to driving a car above the speed limit in 2003. More...

The Financial Express February 04
PetroChina buys Shell shale gas assets
PetroChina is extending its reach into Canadian shale gas assets with a fresh deal with Royal Dutch Shell, estimated to be worth more than $1bn, underlining China’s strategic interest in Canadian resources just days before Canada’s prime minister Stephen Harper arrives in Beijing. More...

The Times of India February 04
On revolution anniv, Iran warns West over oil curbs
TEHRAN: Iran's supreme leader threatened on Friday to retaliate against the West for sanctions, a day after a US newspaper said defence secretary Leon Panetta believed Israel was likely to bomb Iran within months to stop it building a nuclear bomb. More...

The Financial Express February 04
Quick view : Electrical equipment mission plan on cards
A day after the Cabinet decided to give preference to locally made electronic items in defence contracts, the Department of Heavy Industry announced on Friday that it is formulating a plan to spur growth of the electrical equipment industry and reduce the demand-supply gap in the country. More...

The Financial Express February 04
Supreme Court breather for GVK on Srinagar hydel project
New Delhi: In a breather for GVK group company Alaknanda Hydro Power Co (AHPC), the Supreme Court has allowed the construction of the R3,675-crore Srinagar hydel project in Uttarakhand without any hindrance. More...

The Hindu February 04
Larger panel to validate RIL's FDP mooted
The Directorate-General of Hydrocarbons (DGH) has rejected the international panel agencies for “third party validation” of the capex of Reliance Industries' $1,529 million field development plan (FDP) for four satellite gas discoveries in KG-DWN-98/3 on the grounds of “conflict of interest”. In a latest order issued by the Petroleum and Natural Gas Ministry (Exploration Division) Under Secretary, K. K. Sharma, the Ministry has asked the DGH to prepare a larger panel of agencies so that the panel would be useful in future also. During a meeting held More...

The Hindu February 04
Coal users seek resolution to pending issues
Close on the heels of roll back in prices of certain categories of coal, under the new pricing GCV (gross calorific value) regime introduced by Coal India Ltd from January 1, 2012, the Coal Consumers' Association of India (CCAI) has urged the Union Coal Ministry to address certain issues pertaining to the switchover. More...

The Financial Express February 04
Sitting on coal reserve, NTPC power plant may be relocated
New Delhi: National Thermal Power Corporation (NTPC) may have to relocate its proposed 1,980 megawatt (MW) power plant from north Karanpura and find another site in Jharkhand. This follows the concerns raised by the coal ministry over the likely constraints in tapping the 6-billion-tonne coal reserves at north Karanpura if the plant is set up there. More...

The Hindu February 04
NTPC bags SCOPE award
NTPC Limited, the country's largest power generation company, has announced that it has bagged the Standing Conference of Public Enterprises (SCOPE) Award and Gold Trophy in the Institutional category for the year 2009-10. More...

The Hindu February 04
Not given fair hearing on gas block: RIL
Reliance Industries Ltd (RIL) on Friday told the Public Accounts Committee (PAC) that it was not given ‘fair' opportunity by the Comptroller and Auditor General of India (CAG) to explain its points regarding alleged contract violations in the KG-D6 gas block. It also asserted that the CAG's observations were More...

The Hindu February 04
Monthly power shutdown cancelled for some areas
Tamil Nadu Generation and Distribution Corporation, which recently announced the schedule for monthly shutdown at sub-stations in the city, cancelled the shutdown schedule till February 5, 2012. More...

The Financial Express February 04
RIL to return 25% of D6 block to govt
New Delhi: Executives of Reliance Industries (RIL) on Friday gave an undertaking to the Public Accounts Committee (PAC) of Parliament that it would return 25% of its D6 block in the Krishna Godavari basin to the government. More...

The Financial Express February 04
Result Corner : PFC logs R1,108-crore net profit in Q3
Government-owned lender Power Finance Corporation on Friday posted a net profit of R1,108 crore for the quarter ended December 31, based on the new accounting method. More...

The Financial Express February 04
Sensex up 173 points; RIL gains
Mumbai: Extending gains for the fourth day in a row, the BSE benchmark Sensex today rose by 173 points on sustained buying driven by expectations of a cut in interest rates by the Reserve Bank. More...

The Economics Times February 04
Iran threatens retaliation over oil embargo
TEHRAN: Iran's supreme leader threatened on Friday to retaliate against the West for sanctions, a day after a US newspaper said defence secretary Leon Panetta believed Israel was likely to bomb Iran within months to stop it building a nuclear bomb. More...

The Financial Express February 04
Bihar for electricity transmission through smart card grid
Bodh Gaya: The Bihar Electricity Regulatory Commission (BERC) today pitched for establishment of a smart card grid for power transmission to regulate supply to consumers and prevent theft of the commodity. More...

The Economics Times February 04
Five IAS officers join race for Coal India chief's post
NEW DELHI: Five senior bureaucrats, who have served or are serving powerful political establishments, are among 15 candidates in race for the post of chairman of the world's biggest coalminer, state-run Coal India Ltd. More...

The Economics Times February 04
CoalMin urges FM not to disturb mode for collecting SED
NEW DELHI: Coal Minister Sriprakash Jaiswal has urged the Finance Ministry not to disturb the existing arrangement for levying Stowing Excise Duty (SED) on coal dispatches, under which his ministry collects the proceeds and uses it for development of mines More...

The Economics Times February 04
Govt may freeze power capacity to be supplied coal in 12th Plan
NEW DELHI: The Coal Ministry is likely to fix a cap on the power capacity beyond which it would not supply coal during the 12th Plan (2012-17) due to scarcity of the fossil fuel. More...

The Economics Times February 04
Govt trying to raise Rs 10,000 cr through ONGC stake sale this fiscal
The government today said it is working on various options, including the auction route, for raising about Rs 10,000 crore through stake sale in oil major ONGC in the current fiscal. More...

The Hindu Business Line February 04
Power sector needs holistic reform
The Prime Minister's decision to look into the problems of the power sector is a timely and welcome step. In recent years, with demand outstripping supply, the woes of the sector are assuming crisis proportions. The inability to supply regular electricity to several hundred millions of people, and to industry, severely hobbles the country's aspirations for rapid and inclusive growth. More...

The Hindu Business Line February 04
D6 block: Reliance officials depose before PAC
In an over two hours deposition, Reliance Industries Ltd officials, who appeared before the Public Accounts Committee today, responded to the queries raised by the Committee. More...

The Hindu Business Line February 04
Additional import duty will mean higher electricity tariff
Private power producers have said that any move to impose further import duties on power equipment will not only increase capital costs, but also result in higher electricity tariffs. More...

The Economics Times February 04
Reliance Industries to return some KG fields to government this year
NEW DELHI: Top Reliance Industries Ltd (RIL) officials told Parliament's public accounts committee (PAC) that the company will return offshore areas at Krishna-Godavari gas fields to the government this year in keeping with provisions of its contract that the Comptroller and Auditor General has said the oil major has violated. More...

The Economics Times February 04
RIL to produce 3.5 mscmd CBM gas by 2014
MUMBAI: Reliance Industries expects to produce up to 3.5 million standard cubic metres a day (mscmd) of gas by the second half of 2014 from two coal-bed-methane (CBM) blocks in central India, the company said in a newspaper advertisement. More...

The Economics Times February 04
Not given fair opportunity to be heard on gas block: RIL to Parliamentary panel
Reliance Industries, pulled up by the CAG for alleged contract violations of a gas block, today told a Parliamentary panel that it was not given a "fair" opportunity to be heard and the observations by the government auditor were on technical issues and not accounting. More...

The Economics Times February 04
Thermax expects revenues to fall in next fiscal
MUMBAI: India's Thermax Ltd. , an energy and environment solutions provider, expects revenues to decline in the first few quarters of the next fiscal year hurt by sluggish growth in orders in key segments, its managing director said. More...

The Economics Times February 04
Lanco refutes allegation of Rs 13,000 crore scam
NEW DELHI: Lanco, the company accused by Delhi based Centre for Science and Environment (CSE) of illegitimately cornering contracts worth Rs 13,000 crore under the Jawaharlal Nehru National Solar mission, has objected to the allegations and said "they were not crosschecked with the company and were wrongly perceived". More...

The Economics Times February 04
GVK to raise Rs 1200 crore for Alaknanda power project
MUMBAI: Hyderabad based GVK Power & Infrastructure (GVKPIL) is in talks with lenders to raise additional Rs 1200 crore for the Alaknanda hydel power project. More...

Business Standard February 04
JSPL agrees to majority demands of land losers
Jindal Steel and Power Ltd (JSPL) has agreed to fulfill the majority of demands of the villagers affected by its six million tonne steel plant at Nisha near Angul in a bid to break the impasse over the project which culminated in a violent clash between the villagers and security personnel of the company last week resulting in injuries to about 150 persons from both sides. More...

Business Standard February 04
Strike contiues at RIL`s Naroda unit, police detains three workers
Agitating workers at the textile division of Reliance Industries Ltd (RIL) at Naroda in Ahmedabad on Friday continued their strike for the third day demanding higher wages. The company, however, remained silent on the strike, which was called by a group of employees under the name of 'Reliance Employees' Union' from second shift on Wednesday. More...

The Economics Times February 04
Levy of import duty on power equipment will hurt sector: APP
NEW DELHI: Warning that the levy of customs duty on imported power equipment will increase the cost of power generation and delay capacity addition, private power companies have requested the government to keep any proposed move in this regard in abeyance for the time being. More...

Business Standard February 04
Willing to surrender 25% of explored KG-D6: RIL
Even as senior executives of Reliance Industries Limited (RIL) complained to the Public Accounts Committee (PAC) that they were not given an opportunity by the Comptroller and Auditor General (CAG) to share their views while the KG-D6 report was prepared, the company has assured parliamentarians it was willing to surrender 25 per cent of the area explored in the block. More...

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