Dharmendra Pradhan bats for splitting GAIL, new gas tariff policy

Union Petroleum Minister Dharmendra Pradhan on Monday said the ministry was considering the bifurcation of GAIL, a step towards bringing transparency to India’s gas market.He also batted for a market-driven pricing mechanism by introducing a new tariff policy for natural gas soon. The government is planning to unbundle GAIL into two companies for gas transmission…

Ecopetrol denounces sabotage of 31 wells at La Cira-Infantas oil field

BOGOTA, Colombia’s majority state-owned oil company Ecopetrol denounced on Sunday the sabotage of 31 wells at an oil field in the northeast of the country, which put the wells offline and led to oil being spilled.The acts of sabotage took place at Ecopetrol’s La Cira-Infantas oil field, near the city of Barrancabermeja, which produces around…

Govt unlikely to go for privatisation of PSBs this fiscal

Privatisation of any public sector bank (PSB) during the current fiscal is very unlikely due to their low valuations and mounting stressed assets amid the COVID-19 crisis, sources said.   At present, four public sector banks are under the RBI’s Prompt Corrective Action (PCA) framework, which puts several restrictions on them, including on lending, management…