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MUMBAI (Reuters) - XL Energy Ltd, earlier known as XL Telecom & Energy, said on Wednesday Goldman Sachs has converted 1.87 million foreign currency convertible bonds into equity shares and now holds 8.24 percent in the company.
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NEW YORK (Reuters) - Rising prices next year will push oil's percentage of world gross domestic product up to similar levels as during the oil shocks of the 1970s, Societe Generale said on Tuesday.
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The Uttar Pradesh government has came one step closer to achieve the target of producing 25,000-mw power by the end of the 12th Five Year Plan period as the state government has joined hands with Neyveli Lignite Corporation Limited for setting up a 1,980 mw coal-based power project in the state. A memorandum of understanding (MoU) was signed between the NLCL and the Uttar Pradesh Rajya Vidyut Utpadan Nigam in the presence of chief secretary Atul Kumar Gupta to set up a power project at Ghatampu
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Even as private sector issues find it difficult to elicit investor response, government offerings are sailing through smoothly. The over Rs 1,200-crore initial public offering (IPO) of state-run MOIL received about 28 times more bids than shares on offer, generating demand worth over Rs 36,000 crore, while it was 35% subscription on day one for the Rs 1,100-crore follow-on public offering (FPO) of Shipping Corporation. In contrast, Claris Lifesciences was subscribed only 43% on day five. The su
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Companies hamstrung by the environment ministry s stringent norms for exploration of coal blocks could get a breather soon. The coal ministry, with the apparent backing of the PMO and the power ministry, is preparing a Cabinet note that would spell out an alternative policy, reconciling the the power demands of a fast-growing economy with environmental concerns. Among the changes being planned is an increase in the gross forest cover (GFC) limit from 30% proposed by Jairam Ramesh, which means t
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ZURICH (Reuters) - Swiss engineering group ABB is to buy U.S. industrial motors firm Baldor Electric Co for $3.1 billion to capitalise on a global push for energy efficiency and boost its North American presence.
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NEW DELHI (Reuters) - India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest economy to import more of the fuel on which it relies.
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Re falls on oil refiners dollar buy The rupee lost a good 10 paise on Monday with oil refiners reportedly in the market for dollars to settle import bills. The rupee has given up 1.55% in the last eight sessions with the dollar strengthening against major currencies and the equity markets a tad weak. Hitendra Dave, head, global markets, HSBC, said, In the short run, the rupee is getting impacted on account of a weak equity market and the dollar gaining against other majors. However, we expect t
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NEW DELHI (Reuters) - The government said it had extended its deadline for ruling in whether to allow Cairn Energy to sell a majority stake in its Indian unit to Vedanta Resources , hitting Cairn's shares.
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SINGAPORE (Reuters) - Oil rose past $84 on Monday after the European Union approved a rescue for Ireland and outlined a permanent system to resolve the euro zone's debt crisis, providing some confidence that energy demand growth will remain resilient next year.
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NEW DELHI (Reuters) - Oil secretary S. Sundareshan on Monday said a decision on Cairn Energy's application to transfer majority stakes in its Indian assets to Vedanta Resources will be taken before end-February.
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MUMBAI (Reuters) - Videocon Industries said on Monday its partnership with Anadarko Petroleum, BPRL Ventures, Mitsui E&P and Cove Energy has discovered major natural gas presence in Rovuma basin of Mozambique.
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IT major Wipro on Friday said it has topped the carbon disclosure leadership index (CDLI) rankings for India. Wipro, which works on ecological sustainability and various climate change initiatives on energy efficiency and renewable energy, scored 87 points on a scale of 100. A total of 10 companies from diverse sectors participated for the CDLI India chapter. The CDLI rankings were part of Carbon Disclosure Project (CDP), the gold standard globally for climate change. Anurag Behar, chief sustai
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Domestic power equipment manufacturers like Bhel and L&T are hopeful that the government will impose heavy duty on import of power equipment from China despite the finance ministry opposing the proposal. The Planning Commission had already recommended imposing high duty on import of power equipment from China. BP Rao, chairman, Bhel, said while addressing a roundtable on Equipment and Services held by India Energy Forum here on Friday that suppliers from China have captured Indian power equipme
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