Monthly Archives: August 2020

08-08-2020 : BP poised to sell ‘stranded assets’ even if oil prices rally

LONDON: BP is preparing to sell a large chunk of its oil and gas assets even if crude prices bounce back from the COVID-19 crash because it wants to invest more in renewable energy, three sources familiar with BP’s thinking said. The strategy was discussed at a BP executives meeting in July, the sources said,…

India HPCL postpones refineries start on Covid

Indian state-run refiner Hindustan Petroleum (HPCL) will delay commissioning of expansion programmes at its 150,000 b/d Mumbai refinery on the west coast and the 166,000 b/d Visakhapatnam facility on the east coast by several months because of the Covid-19 pandemic. The 40,000 b/d expansion of the Mumbai refinery to 190,000 b/d will be completed in…

Clarifies on stake sale in the gas venture; IEX confirms participation in Gail’s tender

Indian Energy Exchange (IEX) on Friday has clarified on a news item claiming that the exchange is in talks for the gas venture stake sale. IEX has intimated exchanges about its participation in Gail’s tender for expression of interest (EOI) in gas exchange. The stock exchanges had sought clarification on an article appeared in “Newspaper-Business…

EV manufacturers, startups enthused by new policies of Delhi and Telangana

DELHI : As state governments of Delhi and Telengana unveiled their respective policies to promote manufacturing and sales of electric vehicles, manufacturers and startups in the electric mobility ecosystem appreciated the efforts of both state governments. The new policies of both state governments follow the centre’ announcement to earmark ₹10000 crore for subsidies on electric…

RBI okays one-time restructuring of loans

New Delhi, In a major relief to corporate and retail borrowers, the Reserve Bank of India (RBI) today allowed banks to go for one-time restructuring of loans that are facing Covid-19 stress, while keeping interest rates unchanged because of prospects of high inflation rates and perilous state of the economy. The restructuring of loans will…