Category: oil-&-gas
Adhunik Power in talks to refinance Rs 1,500 crore debt
The company is looking to refinance debt at around 18%, down from the earlier 22-23% borrowing costs. The 540 MW power plant struggled to sustain its original debt, especially when valuations dropped to Rs 2 crore per MW, justifying only Rs 1,100 crore in debt. However, with valuations now improving to Rs 3-Rs 3.5 crore…
Indraprastha Gas Ltd embraces end of city gas monopolies, eyes new opportunities
Indraprastha Gas Ltd (IGL) supports ending city gas monopolies, confident in sustaining its business amid new competition. IGL’s MD Kamal Kishore Chatiwal believes the company can protect its market in Delhi and sees potential opportunities in neighboring territories due to higher CNG prices in competitors’ areas.
NTPC plans to spend $62 billion on 30 GW of nuclear power, sources say
Indian state power company NTPC plans to build 30 gigawatts of nuclear power capacity over 20 years, tripling its original target after the government opened the sector to foreign and private investment. This $62 billion project aims to lead India’s nuclear power expansion, addressing land acquisitions and local resistance, with potential collaborations from international partners.
Sterlite Power commissions 123-km Nangalbibra-Bongaigaon transmission line
Sterlite Power has successfully completed the Nangalbibra-Bongaigaon transmission line project, enhancing the power infrastructure in Assam and Meghalaya. The project, which includes a 300 cktkm transmission line and a greenfield substation, ensures reliable electricity supply and lays the foundation for future expansion and regional development.
Reliance, BP lose decade-old gas migration dispute
The Delhi High Court has overturned an international arbitration tribunal’s decision, requiring Reliance Industries and BP to compensate for gas allegedly migrated from adjoining fields. The case is based on a dispute regarding gas production from blocks awarded under the New Exploration Licensing Policy. Reliance may now challenge this ruling in the Supreme Court.
Drill, Baby, Drill: India eyes oil windfall as Trump pushes his ‘America First’ agenda
India may benefit from US President Trump’s push to increase oil and gas production, which aims to lower global prices and boost economic growth. As a major importer, India could secure more affordable energy supplies. The US expects increased oil exports to stabilize global prices, benefiting Indian refiners amid geopolitical shifts and sanctions affecting Russian…
Delhi HC accepts govt plea against Reliance
The Delhi High Court division bench overturned a 2018 arbitral tribunal ruling that favored Reliance Industries in a $1.729 billion gas migration dispute with ONGC. The court found ‘patent illegality’ in the arbitral award and set aside the 2023 single judge’s decision upholding it.
Adani to restore full power to Bangladesh in days but differences remain, say sources
Adani Power will resume full power supply from its 1,600 MW plant to Bangladesh after a three-month gap, disregarding Dhaka’s plea for discounts and tax benefits. Supply was earlier halved due to payment delays, which led to one unit shutdown. Despite resuming supply, Adani Power denied all requests for concessions potentially amounting to millions of…
Reliance Industries acquires Lakadia B Power Transmission for Rs. 6.73 crore
Reliance Industries Limited acquired Lakadia B Power Transmission Limited for Rs. 6.73 crore, making it a wholly owned subsidiary. The acquisition strengthens Reliance’s power transmission capabilities and aligns with its strategy to lead in both traditional and renewable energy sectors.
Big setback for Reliance, win for govt in appeal accusing Ambani’s co of ‘fraud, unjust enrichment of over $1.729 bn’ for siphoning gas
The Delhi High Court sided with the Indian government, accusing Reliance Industries Ltd and its foreign partners of unjust enrichment and fraud in a gas extraction dispute. The court overturned a 2018 arbitration award favoring RIL, following ONGC’s claims of unauthorized gas migration.
