Navi Mumbai airport may miss December 2019 deadline to commission the first phase
Navi Mumbai international airport may miss the December 2019 deadline due to extension in the request for proposal (RFP) submission period and delays in securing various clearances. The City and Industrial Development Corporation (CIDCO), which is a nodal agency for the airport project, will now have to extend the time till December or January next year from October for the RFP following the union ministry of home affairs (MHA) according its security clearance to Hiranandani Developers and its consortium partner Zurich Airport to bid for the project. CIDCO earlier had proposed to award the contract and commence the airport development by December 2016 to commence the first phase with 10 million passenger handling capacity annually by December 2019. MHA in January had rejected the security clearance following which Hiranandani Developers-Zurich Airport consortium was barred from the submission of RFP, thus leaving GMR Delhi, the GVK-led Mumbai International Airport Ltd, MIA Infrastructure of France along with Tata Realty in the fray. The Hiranandani Developers has now sought the clearance from the union ministry of civil aviation and thereafter will formally approach CIDCO to seek RFP document and adequate time for its submission. George Fant Womens Jersey
Swan Energy’s upcoming floating LNG terminal capacity almost sold out
Swan Energy Ltd’s five-million-ton floating LNG terminal coming up off the Gujarat coast is almost sold out with state-owned Oil and Natural Gas Corp, Indian Oil Corporation and Bharat Petroleum Corp Ltd – booking 60 per cent of the capacity. The Nikhil Merchant-led firm has got the much-needed backing to complete the Rs.56 billion project with ONGC, IOC and BPCL agreeing to take one million tons per annum capacity each on the 5 million tons annual capacity. Besides, Gujarat State Petroleum Corp Ltd (GSPC), which holds an 11-per cent stake in the ‘floating, storage and regasification unit’ (FSRU), is in talks for a 1.5 million ton capacity, reports quoting sources close to the development said. The project, being built in joint venture with Exmar of Belgium, is being built at Jafrabad port in Gujarat. Marcell Ozuna Womens Jersey
India discusses ways to recover $600 million dues from Venezuela
India today discussed ways to recover over $600 million of past dues from Venezuela including recouping it from payments for oil it imports from the Latin American nation. ONGC Videsh Ltd owns 40 per cent of the San Cristobal oilfield but has not been paid for its share of oil sales for last couple of years. OVL, in 2008, had invested about $190 million in the project where state-run Petroleos de Venezuela SA (PDVSA) holds the remaining 51 per cent stake. Oil Minister Dharmendra Pradhan today met visiting Venezuelan Foreign Minister Delcy Rodriguez and Oil Minister Eulogio del Pino and discussed bilateral energy issues, including payment of dues. Sources said since cash-strapped Venezuela does not have hard cash to pay after oil prices slumped to a decade low, barter deals were discussed. One of the options is to adjust the outstanding against the crude oil Indian firms like Reliance Industries and Essar Oil import from Venezuela. The outstanding can be deducted from the payment these firms have to make to PDVSA for oil imports, sources said, adding the Venezuelean ministers were non-committal on the proposal. Alternately, OVL can take crude oil in lieu of the cash due, they said. Venezuela is India’s fourth largest source of crude oil, supplying some 23.6 million tons or 12 per cent of the country’s annual import in 2015-16. The cash-strapped OPEC member and holder of the world’s biggest oil reserves has been unable to pay foreign partners on some of its projects as revenues slumped on fall in oil prices, triggering triple-digit inflation. The crisis was precipitated with funds being diverted to social programmes and fuel subsidies. Venezuela gets almost all of its export revenue from oil. It is already repaying loans outstanding to China with crude. An official statement later said Pradhan held a bilateral meeting with two visiting ministers. “During the meeting, both sides discussed aspects of bilateral hydrocarbon engagements. These included, inter-alia, sourcing of crude and mechanism to register Indian oil and gas PSUs for sourcing of crude, status of the two upstream projects in which Indian PSUs have stakes and payment of outstanding dues to ONGC Videsh Ltd (OVL) by Venezuelan national oil company,” it said. Also discussed during the meeting was participation of Indian companies in additional exploration and production activities in Venezuela, setting up of an oil-for-export mechanism for payment of pending dues and training of Venezuelan petroleum industry personnel in India. “Both sides agreed to continue their cooperation in the hydrocarbon sector and work towards further strengthening the relation in the areas of mutual interests,” it said. OVL, Indian Oil Corp (IOC) and Oil India Ltd have 18 per cent stake in the Carabobo-1 project, which currently produces about 16,000 bpd of oil and is expected to reach 90,000 bpd by end of 2017. The 160-square kilometer San Cristobal field in the Orinoco heavy-oil belt currently produces about 28,000 barrels a day, down from a peak of 38,000 bpd. Marcus Peters Authentic Jersey
Cost denial of $380 million to us part of larger gas dispute: RIL
Reliance Industries (RIL) on Thursday said the additional $380 million denied to it by the government towards the cost of extracting discovered gas is part of a larger dispute under arbitration. The company also said the amount was the result of a revision from time-to-time which the Petroleum Ministry conducts, based on its own assumptions of the original disputed amount. The mater pertains to gas in Krishna-Godavari basin. “Upto financial year 2013-14, the cost recovery proposed to be disallowed was $2.376 billion and the consequent demand of the Government of India share of additional profit petroleum of $195.3 million on cumulative basis,” the company said in a regulatory filing. “On June 3, 2016, the company received a revised claim up to year 2014-15, with a disallowance of $2.756 million on cumulative basis and consequent share of Government of India share of additional profit petroleum of $246.9 million, also on cumulative basis,” it added. “We reiterate that all claims made by Government of India are denied by contractor group (led by Reliance Industries) and currently part of an ongoing arbitration. The company said every year the government uses its own interpretations of the contract with the Reliance Industries-led consortium in ascertaining to what extent the cost of extracting gas should be denied and enjoins it to arrive at a cumulative figure. This is also done towards additional profit petroleum it seeks from the contractor. Adrian Peterson Jersey
Dhaka, Delhi sign MoU to carry petroleum products through Bangladesh
Bangladesh and India today signed a memorandum of understanding (MoU) on the route permit for carrying petroleum goods from Assam to Tripura through Bangladesh territory. This is a short-term deal and Bangladesh side agreed to the Indian proposal to grant validity of the MoU till September 30, officials in Dhaka said. “Based on the request by the Government of India, the Government of Bangladesh has granted permission for the movement of petroleum goods on humanitarian grounds through the territory of Bangladesh till September 2016,” said a press release of the High Commission of India. Indian Oil Corporation Limited (IOCL), a Public sector unit under the Ministry of Petroleum and Natural Gas of the Government of India, and the Roads and Highways Department of the Government of Bangladesh (RHD) signed the deal. India made the request following heavy monsoons and extremely bad road conditions of NH44 have resulted in the disruption in the supply of Petroleum Goods from the State of Assam to the State of Tripura in India. Diplomatic sources said the MoU will facilitate India to carry Petroleum Goods (Motor Spirit, High Speed Diesel, Superior Kerosene Oil & Liquefied Petroleum Gas) from Assam to Tripura through Bangladesh territory as the normal Indian roads for oil transportation have been badly damaged by the recent flood. Trucks carrying the petroleum goods will play in the Dawki (Meghalaya) – Tamabil (Bangladesh) – Chatlapur (Bangladesh) – Kailasshar (Tripura) route. Bangladesh and India allowed each other to use their respective territories to transfer goods to their one place to another and to a third country in the past in addition to existing transit and transshipment deals arrangements. Logan Ryan Authentic Jersey
Clarification sought from UP discom on electrification of Nagla Fatela village
Rural Electrification Corporation on Wednesday issued a show-cause notice to an Uttar Pradesh power distribution utility seeking clarification on status of Nagla Fatela village that was announced as electrified by Prime Minister Narendra Modi in his Independence Day speech. The corporation has sought clarification from Dakshinanchal Vidyut Vitaran Nigam Ltd (DVVNL) on media reports that said no power connections have been given to households, though the village has been certified as electrified by the utility in October 2015. The notice has also sought explanation on media reports that quoted chief engineer VS Gangwar as saying that the village was electrified many years ago, but only through “katia” connections. “You may also clarify, why, if the infrastructure work had been completed and certified on October 30, as reported by DVVNL, no connection have so far been released to households, including BPL households and the infrastructure remained underutilised after spending public money, including GOI grant. In case your reply is not received within three days, action as deemed appropriate will be initiated,” the notice said. Power, coal, renewable energy and mines minister Piyush Goyal said that Uttar Pradesh has been asking for additional funds while not been able to utilise the existing ones. DaeSean Hamilton Authentic Jersey
With a target of 1lakh kms, NHAI launches ‘adopt a green highway scheme’
The National highways Authority of India (NHAI) has launched ‘adopt a green highway scheme’ to engage corporates, public sector units and other government departments to undertake greening of national highways under the corporate social responsibility programme. Power Finance Corporation has already committed to greening of an 87 km national highway stretch in Nagpur. NHAI is also in talks with Coal India and several other PSUs to undertake greening of highways. “This will open new vistas for PSUs and corporate houses to utilize their CSR funds for greening of highways and creation of ecological assets,” said Dr. AK Bhattacharya, MD- National Green Highways Mission (NGHM). Government has a target of greening of one lakh kms of national highways. Road transport and highways minister Nitin Gadkari has also earmarked a departmental budget of Rs 5000 crore for the same. With a target of 1lakh kms, NHAI launches ‘adopt a green highway scheme’ Lou Brock Authentic Jersey
Govt sets 2019 deadline for Navi Mumbai Airport
Alarmed at the capacity constraints in Mumbai airport, the aviation ministry is working on a two-pronged strategy — to create slots by making the airport in Juhu operational, and complete the operational part of the airport in Navi Mumbai by 2019. According to the plan, the government has set a 2019 deadline to make the Navi Mumbai airport available by creating operational portions such as the runway, terminal building and the ATC tower. “The rest of the infrastructure can come eventually and the airport should be made operational first,” said a top aviation ministry official, who did not wish to be identified. The ministry has also asked the Airports Authority of India (AAI) to hire consultants to suggest ways to revive the airport in Juhu in its efforts to decongest the existing airport. “The plan is to shift general aviation operations and regional flights operations to the airport in Juhu, which will help decongest the existing airport,” said the official. He said the plans to build a runway on the sea can be revived. “It is true that that the plan is old and never been implemented. But those were different times, when the current airport was not saturated. The circumstances have changed now and solution needs to be arrived at as quickly as possible.” The Mumbai airport has run out of landing slots from this summer schedule that started in March 2016, and could not allow additional domestic flights from the airport, EThad reported in March 2016. The airport could not add slots because the single runway operations out of Mumbai airport does not provide room for any new aircraft movements. Brad Marchand Jersey
Biju Patnaik International Airport to operate 24X7 from Sep 1
Biju Patnaik International Airport (BPIA) authorities have decided to keep the airport open round the clock from September 1. “The Ministry of Civil Aviation has already given permission for day and night operation of the airport,” said BPIA Director R Mahalingam.
Air India registers Rs 100 cr operating profit in FY 16, finds mention in PM’s I-day speech
Air India’s return to profitability was acknowledged by Prime Minister Narendra Modi in his Independence Day speech on Monday. “Air India was infamous for incurring losses. My government has succeeded in bringing Air India to a situation of clocking operational profit,” Modi said, taking credit for the carrier’s achievement. Modi did not disclose the airline’s profit figure in his speech. According to airline officials, Air India has made an operating profit of Rs 100-110 crore in FY16, higher than the earlier projection of Rs 8-10 crore, driven by low jet fuel price. The airline, which is under Rs 30,000-crore government bailout plan, closed its financial 2015-16 accounts recently, but the accounts are yet to be audited. Top officials confirmed that the airline had made Rs 100-crore operating profit in FY16, but refused to divulge other details. This is the carrier’s first operating profit in a decade. At a net level though the carrier is making a huge loss as its interest and maintenance cost remain high. In April government informed the Parliament that the airline is likely to post Rs 2636 crore net loss in FY 16. A senior Air India official said that the though low crude played a major role behind the airline’s performance, its result also improved due to increased aircraft utilisation and improved seat occupancy. The airline is estimated to have saved 30 per cent on its fuel bill due to lower crude oil price even as it added new services between Delhi-San Francisco and Ahmedabad-London. Klim Kostin Womens Jersey