Energy Sector

Shell follows rival with huge third quarter profits

Shell follows rival with huge third quarter profits

PM to inaugurate new facilities of Department of Atomic Energy today

Prime Minister Dr. Manmohan SinghNew Delhi, Oct 30: Prime Minister Dr. Manmohan Singh will inaugurate a few new facilities of the Department of Atomic Energy (DAE) here today.

The inauguration will be held from New Delhi through video conferencing link on the occasion of Homi Bhabha birth centenary year.

Dr. Singh will inaugurate two desalination plants - a multi-stage flash evaporation plant located at Kalpakkam in Tamil Nadu and a large mounted desalination plant which is currently stationed in Goa.

Lukoil executive says Russia should join OPEC energy cuts

Moscow - The vice president of Lukoil, Russia's largest private oil major, said Wednesday it may be best for Russia to join OPEC in production cuts to bolster oil prices slumping amid the financial turmoil.

Leonid Fedun said joining OPEC could be "only good for Russia."

His comments surprised the industry Wednesday. Previous attempts for Moscow to align its policy with OPEC fell through when private energy firms, like Lukoil, increased oil deliveries, analysts said.

OPEC crude price falls to 55.90 dollars

Organization of the Petroleum Exporting CountriesVienna - The price fo

OPEC crude price continues to slide

Vienna  - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell by another 0.77 dollars Monday, OPEC said Tuesday.

Suzlon Energy cancels rights issue worth Rs 1800 crore

Suzlon Energy cancels rights issue worth Rs 1800 crore Indian wind turbine manufacturer Suzlon has announced that in view of the current capital market environment, the company has decided to suspend the rights issue of equity shares to a maximum extent of Rs 1800 crore.

The company said that the recent move will not impact original plans of the company.

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