The $3-billion Dabhol power project in Maharashtra is facing delays in completion of the LNG receipt terminal, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Thursday.
The markets opened in red in line with weak Asian peers.
US energy major Enron Corp's original contractors for the $2.96-billion Dabhol power project will complete the unfinished LNG terminal to restart the stalled 2,184 MW plant by next year.
Indian equity markets registered their highest single-day percentage gains since early October.
Leading multinational publishing company, Random House, on Friday announced the setting up of its Indian arm, Random House India.
Reliance Industries Ltd, India's largest private firm, is keen to take over the Dabhol power plant to fulfill its long planned ambition of having an LNG import facility on the west coast, a company official said.
Stock markets, instead of worrying about worldwide economic slowdown, should focus on mounting financial risks in Asia, an analysis by a leading business research organisation has said.
India's $22 billion deal to import liquefied natural gas from Iran hangs in balance with Tehran on Tuesday asserting that the agreement was not binding as it has not been ratified by its Supreme Economic Council.
.jpg)
The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
The length of the main trunk pipeline is 1,385 km from Kakinada to Bharuch and 75 km is the length of the spur lines.
The Power Ministry on Monday said it is against hiving off the LNG terminal from the Dabhol power plant.
The government is expecting a 'huge' response to its largest ever auction of 55 oil and gas blocks for which bids close on Friday.
The two western states, already battling a raging pandemic, which has put their health infrastructure under severe strain, opened new fronts to tackle the fallout of the storm which is expected to make a landfall close to Mumbai on Wednesday. They are likely to be impacted most by the cyclone.
Ratnagiri Gas and Power Pvt Ltd, the NTPC-GAIL joint venture that runs the Dabhol power plant, may have to shut down the project by end of this month due to fuel scarcity.
Market breadth is positive with 942 advances and 196 declines.
The benefit to the retail investor in the government's divestment programme is the fact that investors are allotted the shares at 5 per cent below the offer price finally arrived at through the book-building process.
Media giant Zee Group on Wednesday announced diversifying into the energy sector, beginning with a Rs 3,500 crore (Rs 35 billion) gas-based power plant in Haryana.
Electricity from Dabhol project in Maharasthra, which is being targeted to restart from July 2006, may cost over Rs 3 a unit as LNG suppliers quote twice the price of gas than the previous estimates.
Andhra Pradesh Police said the lighting of a stove by a tea vendor might have sparked Friday's fire at the Gas Authority of India Limited pipeline in East Godavari district after leaked gas from the line enveloped the area.
"Earlier, India was a land of snake charmers. Now, Americans perceive Indians to be very smart. The infotech revolution changed it all," says FICCI Secretary-General Amit Mitra.
ONGC-Reliance-BG will get additional revenue of $70 million from realising higher price for gas produced from Panna/Mukta and Tapti fields.
The capacity of the proposed facility, part of Indian Oil's Rs 56,000-cr investment plan during the 12th Plan, will be five mt a year.
