The April 25 deadline for the Dabhol power plant is looking increasingly unlikely as critical components have not yet reached the plant and there is an urgent need of repairs.
Dabhol's assets will be demerged into the power plant and the LNG terminal.
The police on Friday detained Shiv Sena (UBT) MP Vinayak Raut at Barsu village in Maharashtra's Ratnagiri district after he joined a section of local people in their protest against the proposed oil refinery project there, triggering chaos at the site for some time, officials said.
A section of residents in and around Barsu have been opposing the proposed refinery as they fear the mega project will adversely affect the fragile biodiversity of the coastal Konkan region and also hit their livelihood.
The plant has been shut since 2013 for want of domestic gas supplies.
Ratnagiri Gas & Power Pvt Ltd, in charge of Dabhol assets since 2005, has admitted it is passing through a difficult phase in the absence of gas allocation and low recovery of dues from the Maharashtra State Electricity Distribution Company.
The company is pursuing the early scheduling of gas with the Centre to restart generation.
Maharashtra Chief Minister Eknath Shinde on Friday said the proposed refinery project at Barsu village in Ratnagiri district will not be implemented without the local people's consent, and appealed for calm in the area.
Goyal's statement comes in the wake of RGPPL board giving its approval last month for the conversion of debt into equity equivalent to interest dues of Rs 405 crore (Rs 4.05 billion).
The 1,967 MW plant has not been operating since August because of stoppage of natural gas supplies from domestic fields.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Gas prices have fallen to $10 per million British thermal unit. But the fate of the power project, run by Ratnagiri Gas and Power Pvt Ltd, will hang in balance till the committee takes a decision on gas pooling, reduction in certain taxes and providing per unit subsidy.
The government's move is crucial as the state distribution utility MahaVitaran was purchasing about 95 per cent of power since the Dabhol project began generation in April 2006
A looming global shortage of diesel in Europe presents India with more than one opportunity to profit from strong margins. A shortage of the fuel, a key contributor to inflation, has been exacerbated by the conflict in Ukraine, and western sanctions on Russian fuel supplies. The slowdown in natural gas supply means the West needs diesel to heat their homes this winter.
Estimated to cost $44 billion, the project was expected to be commissioned by 2025.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
Reliance Energy plans to build two new power plants in Maharashtra, near the coastal town of Shahpur in Ratnagiri.
The government plans to operate a second unit of Dabhol project on naphtha from May to partly tide over the massive electricity shortages in Maharashtra during summer.
What could be more uncertain than Virat Kohli's agonising wait for a century for over two years? Perhaps it's what you will pay tomorrow morning to fill your vehicle's tank. Pump prices have joined cricket scores as the country's favourite discussion topic. Steep increases invite widespread protests, while moderate additions make the government anti-reformist. The ongoing fuel price conundrum is no different.
Three districts of Maharashtra - Ratnagiri, Sindhudurg and Raigad - on the western coast are set to become the power hub of this part of the country.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
All efforts were being made to ensure there was no loss of life due to the cyclone that was likely to make landfall near Alibaug on Wednesday, he said, adding that the Army, Navy and Air Force were on stand-by. Thackeray also elaborated on 'dos and don'ts' in the situation.
"The plant is producing 900 MW of power now. This will come down to 300 MW as we are shutting down two units for maintenance inspection," an official in Ratnagiri Gas and Power Pvt Ltd, the company that runs the Dabhol plant, said.
Sena also said that laying a brick for the $44 billion (Rs 3 lakh crore) mega refinery project at Nanar in Ratnagiri district of Maharashtra would be akin to laying the foundation stone for a cancer hospital there.
The Dabhol power plant of the Ratnagiri Power and Gas Company is in trouble once again with problems in the recently commissioned second unit and delays in commissioning the third.
Power Minister Sushil Kumar Shinde said on Thursday the first phase of the 2,184 MW Dabhol power plant would start before May 1 this year and said there is 'no hitch' in the progress of the $2.9-billion project in Ratnagiri district of Maharashtra.
Essar Oil on Tuesday said it will set up 50 petrol stations before the end of this fiscal.
The trouble is largest FDI projects in India have had a tragic history.
Shiv Sena has so far expressed concerns over car shed for the city's planned metro network, the bullet train and the West Coast refinery projects.
Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
'When there is a change in the wind speed or the stress exerted on the surface, it will change the ocean currents.'
Marathas, a politically influential community that constitutes around 30 per cent of the state's population, have been demanding 16 per cent reservation in government jobs and education.
BSE Midcap index outperformed the benchmark indices to end with 0.4% gains.
'It is my duty to give the govt the right price of crude oil.'
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