Energy Sector

Govt May Declare Fuel Rate Cut On Thursday

Govt May Declare Fuel Rate Cut On ThursdayThe petroleum ministry has signaled that besides freeing fuel pricing from administrative control, the government on Thursday may cut petrol, diesel and domestic LPG prices.

According to an official working in the petroleum ministry, the Cabinet, which is planed to meet on Thursday, may reduce petrol price by Rs 5 a litre, diesel by Rs 3 per litre and domestic LPG by Rs 25 per cylinder, thus, giving relief to the common man and further easing inflationary pressures.

Gujarat NRE To Invest Rs 300 Cr In Gujarat Over 4 Years

Gujarat NRE To Invest Rs 300 Cr In Gujarat Over 4 YearsAt the Vibrant Global Investers Summit 2009, Ahmedabad, Gujarat NRE Coke Ltd, country’s largest independent coke producer, announced that it is all set to invest around Rs 300 crores in Gujarat over the next 4 to 5 years.

The metallurgical coke producer said that it will invest Rs 12 billion in a 200 megawatt (MW) wind power project and Rs 10 billion in a 200 MW thermal power plant.

Gujarat NRE would also invest Rs 5 billion on adding additional capacity at its coke and coal preparatory plants and Rs 3 billion on a 60 MW heat-based power plant.

Russia resumes gas flows to Europe

Russia resumes gas flows to EuropeMoscow - Russia resumed supplies of gas to Europe on Tuesday as observer teams began measuring gas flows through Ukraine in an effort to mediate the ongoing standoff between Moscow and Kiev.

Ukraine's Naftogaz said it had received a fax from Gazprom informing it 76 million cubic metres of gas had been sent through the pipelines "at 10 am Moscow time" (0700 GMT), news agency Itar-Tass reported.

Government is unlikely to take action against oil executives

The Union Government is unlikely to take any action against the officers of oil PSU's who went on strike two days earlier. Their strike caused huge loss to national exchequer and crippled fuel supply across the nation.

The oil workers came back on work when Union Cabinet under the chairmanship of PM Dr. Manmohan Singh asked concerned ministry to deal them with heavy hand.

Petroleum Secretary, R S Pandey said, "Everyone has undergone a great deal of trauma, we have had a tough experience. I don't think you all should start finding fault. It is the time to look ahead to the future."

Mr. Pandey however said that no one should try to hold country to ransom.

Medvedev urges Ukraine for swift deployment of gas monitors

Medvedev urges Ukraine for swift deployment of gas monitors Moscow  - Russian President Dmitry Medvedev on Monday urged his Ukrainian counterpart to provide for gas experts to be quickly deployed to monitor gas flows to Europe - a key condition for Russian reopen the taps.

Medvedev, who spoke by phone with President Viktor Yushchenko late Monday, said Russia was ready to immediately resume negotiations on a new contract for gas shipments to Ukraine in 2009, the Kremlin said.

Russia expected to resume gas supplies to Europe

Russia expected to resume gas supplies to Europe Brussels/Moscow/Kiev  - Russia should resume gas supplies to Europe via Ukraine on Tuesday, European Union officials and representatives from Russian state-owned gas monopolist Gazprom said Monday after a deal appeared to have been sealed in Brussels.

"If there aren't any obstacles ... gas transits can be renewed already tomorrow, at 8.00 am European time (0700 GMT)," Gazprom deputy chief Alexander Medvedev said during a visit to Brussels.

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