While seven companies bagged orders worth Rs 42,000 crore, industry experts said most of this new order activity was a spillover, and fresh project finalisation remains weak.
"The Corporation has decided to offer a voluntary retirement scheme, with a view to enable employees who are not in a position to continue in service of the Corporation due to various personal reasons, to request for grant of voluntary retirement from the services of the Corporation," Bharat Petroleum Corp Ltd (BPCL) said in an internal notice to its employees.
According to industry figures, the pre-Covid demand for liquid medical oxygen (LMO) before the pandemic was 700 tonnes per day across the country. Now, with the second wave, the demand has gone up more than seven times, reports Jyoti Mukul.
The GDP slumped to a three-year low lagging China for the second straight quarter -- as manufacturing slowed ahead of the GST launch amid demonetisation effect.
Reliance had shut its 1,432 filling stations in March 2008 after sales dropped to almost nil as it could not match the subsidised price.
Reliance Industries on Friday reported more than doubling of its March quarter net profit to Rs 13,227 crore as improvement in petrochemical and consumer business countered continued weakness in refining business.
Crude oil, fertiliser and cement recorded negative growth
These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
Criticising the Congress, he said the parties following the politics of family and dynasty may continue like that, but the BJP government was committed to taking the country's defence and self-respect to their pinnacle.
A tough initial lockdown was imposed beginning March 25 but dreams of a V-shaped recovery after it was eased in May have been obliterated by a surge in cases and new lockdowns.
Cumulatively, the eight core sectors grew by 4.2 per cent in 2017-18, lowest in the last three financial years.
Beijing's political risks are also escalating because of a renewed wave of public anger in many parts of Balochistan against human rights abuses by Pakistani troops deployed to crush the low-intensity insurgency in the province, the report said.
Department of Economic Affairs secretary Atanu Chakraborty said that equity capital flows have been positive this year.
'BPCL has always been spoken about as a multinational company though it is State-run... this sets our work culture also apart.'
Coal, refinery products, electricity and cement production registered a growth of 14.5 per cent, 8.1 per cent, 10.2 per cent and 11.3 per cent, respectively in November, as per the data released by the Commerce and Industry Ministry.
Refining major optimistic on planned investment of $16 bn for expansion and new technology to post healthy margins
Faced with high-speed wind and swelling sea, the ill-fated barge Pappa-305, with 261 crew onboard, lost anchors and smashed into an unmanned platform before sinking in the Arabian Sea after its captain ignored weather warnings and chose not to move the vessel away from the path of severe cyclonic storm Tauktae, a survivor recounted.
The government has given a green signal to Oil and Natural Gas Corporation's petrochemical plans but has discouraged India's largest oil and gas producer from foraying into fuel retailing.
One of the major advantages of buying Iran crude is the additional credit period of 90 days that the country gives to India, compared to 30 days by other countries.
Rediff reader Hitesh Kumar Jha from Akola reveals how his first salary changed his life.
The Reserve Bank of India is expected to hold interest rate at 8 per cent in its fifth bi-monthly monetary policy review on Tuesday.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
The six core sectors - crude oil, petroleum refinery products, coal, electricity, cement and finished steel - had expanded by 4.2 per cent in February 2010.
The eight core industries -- fertilisers, cement, steel, electricity, crude oil, coal, petroleum refinery products and natural gas -- have a combined weight of about 38 per cent in the Index of Industrial Production.
The six core sectors -- crude oil, petroleum refinery products, coal, electricity, cement and finished steel -- had expanded by 9.8 per cent in January, 2010.
Government headhunter PESB on Friday did not find anyone suitable from nine candidates, including two serving IAS officers, to head India's largest oil and gas producer, ONGC. The Public Enterprise Selection Board (PESB) interviewed 9 out of the 10 candidates who had applied for the post of chairman and managing director of Oil and Natural Gas Corporation (ONGC). "Keeping in view the strategic importance and vision for the company and its future, the Board did not recommend any candidate and decided to constitute a Search Committee," PESB said in a notice after interviews. Those interviewed included senior bureaucrats Avinash Joshi and Niraj Verma.
The output of eight core industries increased 4.2 per cent in April, boosted by higher electricity, fertiliser and cement production.
Indian Oil Corporation, the country's largest oil firm, is eyeing acquisition of Turkey's biggest refiner - Turkish Petroleum Refineries Corporation (TUPRAS).
New projects fell 6.3 per cent in the December quarter compared with the September quarter. The value of new projects in the just-concluded quarter was Rs 2.1 trillion, according to the data from Centre for Monitoring Indian Economy (CMIE), which was lower than the Rs 2.2 trillion seen in the September quarter. It is, however, higher than Rs 1.5 trillion recorded for the quarter ended December 2020, the first year of the Covid-19 pandemic. This data ties in with the November data for core sector growth, an index of eight core industries, which grew at its slowest pace since early 2021.
Stalling the introduction of better emission standards is based on specious logic, especially in a country that has 13 of the world's most polluted cities.
The output had expanded by 4 per cent in March 2014.
The eight core industries -- fertilisers, cement, steel, electricity, crude oil, coal, petroleum refinery products and natural gas -- have a combined weight of about 38 per cent in the Index of Industrial Production.
The growth of six infrastructure industries slowed to 2.5 per cent in September, pulled down by contraction in output of coal and petroleum refinery.
Hindustan Petroleum Corporation, the state-owned company, could find itself becoming a major player in the oil and gas sector both within the country and overseas with huge capital being pumped in by the L N Mittal-promoted Mittal Investments.
Infra segment, refinery product impacted the most, even as contraction narrows in latest month.
There are actually great similarities between the two PM
As many as six of eight core industries saw a contraction in output in October.
In October 2015, the sectors had witnessed a growth of 3.2 per cent.
Congress President Sonia Gandhi is learnt to have slowed down her activities over the last few weeks, say highly placed sources in the party.
India has witnessed a spectacular growth in the refining sector over the years. Today, there are 14 refineries in the country, 13 in the public sector and one in the joint sector, with an install capacity of 60.4 million tonnes per annum. Presently India is undergoing major economic and industrial reforms for integrating its economy with the global economy. In the liberalised scenario, the hydrocarbon sector has been identified as one of the main areas of the focus.
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