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Wednesday, January 1, 2014

TOP CORPORATE NEWS




·        OilMin may block CIL's coal bed methane tie-up plan

Coal India Ltd might not get a free hand in selecting a private partner to tap into the newly-opened coal bed methane (CBM) opportunity. The petroleum ministry may impose restrictions on private partnership for development of four trillion cubic feet CBM reserves in CIL’s blocks allocated on a nomination basis.

·        ONGC plans to drill more wells in Cambay

ONGC is planning to drill more wells in Cambay region of Gujarat. ONGC has been investing Rs 2,000 crore per annum on exploration of oil and gas in Gujarat and Rajasthan.

·        Coal & Oil Group to invest Rs 10k cr in TN

Dubai-based Coal & Oil Group building a 1,200-Mw thermal plant in Tuticorin district of Tamil Nadu for Rs 6,800 crore. It will invest another Rs 10,000 crore to increase the capacity by 1,600 Mw to 2,800 Mw.

·        Jindal steel and power increased price of its steel products.
Jindal Steel and Power Ltd increased the price of its steel products. It hiked the prices for steel plates, hot rolled coils, wired rod coils and TMT rebars by Rs1,000 a tonne each.

·        Gujarat Gas signs agreement with Gujarat State Petroleum
Gujarat Gas Company Ltd has announced that pursuant to the Memorandum of Understanding executed between Gujarat Gas Company Limited and Gujarat State Petroleum Contracts for supply of Regassified LNG up to 0.65 million metric standard cubic metre on long term basis.


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