Energy

Reliance in August valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20 per cent stake.

The government feels that lower price of fuel under CGD projects would allow bigger ashift of people to cleaner fuel.

Power demand rose 1.1 per cent in 2019, the smallest rise since 2013, data compiled by the Central Electricity Authority showed.

The Central Electricity Authority (CEA), an arm of the power ministry, is expected to release official data on power demand later this month. POSOCO releases provisional load despatch data every day.

India has set a target of raising Rs 1.05 lakh crore ($14.6 billion) through the sale of state stakes in companies by March 2020. It has reached Rs 17,364 crore since April by selling minority stakes in government companies.

A slippage will put the government's goal of capping its budget deficit at 3.3 per cent of gross domestic product at risk, and prompt rating companies to put India's credit score on a path for a downgrade to junk.

State-run Indian Oil Corporation (IOC) on Thursday reported a net profit of Rs 563.42 crore for the quarter ended September 30. That marked a fall of 82.65 per cent compared with its net profit of Rs 3,246.93 crore in the second quarter of financial year 2018-19, and stood way short of Street expectations. Total revenue from operations fell 12.66 per cent to Rs 1,32,375.69 crore in the second quarter of current financial year, the country's largest fuel retailer said in a regulatory filing. Shares fell more than 2 per cent after the earnings announcement before ending flat.

The government today said it has extended the last date for receipt of applications for allotting 17 coal mines to public sector firms.

Facing uncertainty over the supply of coal in the country, public sector power producer NTPC has initiated talks with Australian coal mining major MetroCoal to acquire a 50 per cent stake in one of its mega projects.

While the companies have received approval from the other concerned ministries, they have not been able to progress with the investment due to the objections raised by the Defence Ministry.

Power consumers in Kolkata will have to pay more as the Calcutta Electric Supply Corporation (CESC) is increasing tariff by 8 paise per unit, according to sources in the electricity distribution company.

Haryana government will take over 50 per cent of short-term liabilities of power utilities which would be converted into bonds to be issued to lenders, as part of debt restructuring plan for distribution companies, a senior official of Haryana Power Utilities said today.

The government is expected to soon announce a mechanism for price pooling of coal - blending the cost of domestic fossil fuel with the imported one to offset high price, sources said.

In order to remove bottlenecks in the power sector, Power Minister Jyotiraditya Scindia is meeting the state energy ministers today. The day-long meeting has started with the agenda of discussing and solving issues impacting growth in the power sector.

Abu Dhabi National Energy Company PJSC (TAQA) has acquired 5 per cent stake in a 100 mw-power project being developed by NCC Limited in Himachal Pradesh and is looking to acquire 100 per cent in future, sources said.