Yangon - Myanmar has rejected a demand by Bangladesh to stop offshore oil exploration in a disputed area in the Bay of Bengal, state media reports said Friday.

The Myanmar government announced it would continue exploration in the Rakhaing offshore block AD-7 despite Bangladesh's claim to the area, according to state-run TV and newspapers.

Myanmar claimed the AD-7 block was within the special economic zone of Myanmar territorial waters and that the demand by Bangladesh was unlawful and wrong.

Vienna - OPEC said Thursday t

In order to support the local airline firms the government scrapped basic customs duty of 5% on the fuel on Friday.  

Following suit, the Oil Companies reduced jet fuel prices by Rs 2,100 per kilolitre. Ever since October, the oil companies have reduced jet fuel prices by over 16 percent in response to the fall in international prices. The price cut will be effective from midnight of 3 November. The fuel will now sell at Rs 44,965.70 a kilolitre in Delhi and Rs 46, 518.85 a kilolitre in Mumbai.

State-run gas utility Gas Authority India Limited (GAIL) has informed that it has signed a Co-operation agreement with Government of Himachal Pradesh to link the hill state with the national gas grid.

GAIL was setting up gas pipeline networks from Uttar Pradesh to Haryana to Punjab and finally to Himachal Pradesh. The 610-km long Dadri-Bawana-Nangal pipeline, which will pass through Uttar Pradesh, Delhi, Haryana and Punjab entails an investment worth Rs 25 billion.

EPIC Energy, energy management solutions provider in domestic and international market, has informed that it has been awarded a contract to conduct Investment Grade Energy Audit for 10 government buildings in Arunachal Pradesh. 

The order has been placed by the Arunachal Pradesh Energy Development Agency. 

The scope of contract includes exploring the energy conservation option in the electrical distribution system, the lightning system, the HVAC systems, the DG sets and the Water Pumping System.

According to the sources, the contract signifies EPIC’s entry into the north eastern region of the country.