Energy Sector

Adhunik Power to Setup 1000 MW power plant in Bihar

Exelon offers 6.2 billion dollars for discounted NRG Energy

Exelon offers 6.2 billion dollars for discounted NRG Energy New York - Giant energy company Exelon Corp, the country's largest utility, has made an uninvited bid to acquire NRG Energy Inc for 6.2 billion dollars, following billionaire investor Warren Buffett's example of buying into the market amidst the slump.

NRG is the second-largest power producer in Texas, and would give the Chicago-based Exelon capacity outside its Illinois and Pennsylvania operating bases, Bloomberg financial news service reported. NRG's shares lost half its market value in two months.

Nine Chinese Oil Workers Kidnapped in Kordofan

Beijing/Khartoum - Nine Chinese oil workers have been kidnapped by an unknown group in Sudan, state media said on Monday.

Slight rise in OPEC crude price after cartel announces meeting

Organization of the Petroleum Exporting CountriesVienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose by 0.48 dollars Friday, following the cartel's decision to meet on October 24 to discuss production cuts.

One barrel (159 litres) of OPEC crude stood at 63.82 dollars Friday, up from 63.34 dollars on the previous day, OPEC said Monday.

Essar Oil to reopen 70% of its closed retail outlets by December

Indian private refiner Essar Oil has partly restarted its fuel stations in the country following sharp fall in crude oil prices.

Head of NIGEC says three major gas projects will be completed by 2014

Head of NIGEC says three major gas projects will be completed by 2014Nicosia, Oct 20: Reza Kasaizadeh, the new Head of the National Iranian Gas Export Company (NIGEC), has said that Iran’s three major gas projects - the Iran LNG, the Pars LNG and the Persian LNG - will be completed by the end of 2014.

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