News Updates

Green energy developer Virtuaal Infra Power Pvt Ltd (VIPL) has announced its association with Singapore based Infra Co Asia Development Pte. Ltd. The association will help Virtuaal Infra power in producing renewable energy in north-eastern state of Arunachal Pradesh.

ReNew Power Ventures Private Limited, announced that it has become the first company to get solar rooftop allocation of 5 MW, pan-India, from the Indian Railways.

Hyderabad-based Nagarjuna Oil Refinery Ltd will seek shareholders´ approval to sell its 46.78 per cent stake in Nagarjuna Oil Corporation Ltd (NOCL), which is setting up a 6-million-tonne oil refinery in Tamil Nadu, to Allied Machineries and Resources Holdings Inc of Ras Al Khaimah (AMR Group).

OPEC was trying to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance even without an agreement. OPEC experts started a meeting in Vienna to make recommendations to their ministers on how exactly the Organization of the Petroleum Exporting Countries should reduce production.

India´s oil and gas industry will benefit from the strong consumption growth in petroleum products in 2017, while profitability in the oil exploration and production segment will remain weak, Fitch Ratings says in a report.

State-owned Gujarat State Petroleum Corporation Limited (GSPC) stated that it has reported a profit after tax (PAT) of Rs.374.03 crore for the first half of 2016-17, ended September 30.

Union Petroleum Minister Dharmendra Pradhan inaugurated a workshop for creating an innovation ecosystem for start-ups in the oil and gas sector, said an official statement.

Directing an investigation into gas utility GAIL (India) Limited for alleged contravention of the competition law, the Competition Appellate Tribunal (COMPAT) has allowed appeal against an earlier order by the Competition Commission of India (CCI) with regard to gas supply agreements.

The West Bengal state government is planning to generate 180 MW of solar power in the next two years, an upgrade from the state current meagre contribution of 7 MW.