Ajoy K Das

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Ajoy K Das

India’s OVL and Sudan seek to settle default payments through fresh talks

20th August 2018 ONGC Videsh Limited (OVL), the overseas arm of India’s national oil, gas exploration and production major ONGC, has agreed with the Sudan government to work out a mechanism to settle the $400-million outstanding dues of the Indian oil company. The decision to find a solution through negotiations... →

Indian mining industry seeks tax overhaul

16th August 2018 The Indian mining industry has called for a complete overhaul and rationalisation of the tax regime, including scrapping the export tax on iron-ore and bauxite. The Indian mining industry has to bear the burden of one of the highest incidence of tax in the world. Mines allocated through... →

India to bring in new mineral policy to align exploration and development projects

15th August 2018 The Indian government is expected to put into play a new mineral policy, possibly before the end of August, aimed at a more investor-friendly alignment of exploration and development projects. The Mines Ministry, which is the driver of the proposed policy changes, is expected to suggest... →

After ditching a billion-ton target, Coal India reviews demand and diversification afresh

13th August 2018 Formally acknowledging that its one-billion ton a year production target by 2020 will not be met, Coal India Limited (CIL) will undertake a complete review of domestic coal demand and diversification of business verticals. India’s largest coal miner will take a fresh view of domestic demand and... →

Indian private thermal power plants critical of CIL e-auctions

8th August 2018 India’s independent power producers (IPPs) have flayed State-run Coal India Limited’s (CIL) move to push higher sales through e-auctions forcing thermal power plants without fuel linkages to resort to high cost dry fuel imports. However, simultaneously, the Power Ministry has asked all thermal... →

New Indian EV battery policy to determine response to Bolivia lithium invite

31st July 2018 An Indian government policy advisory body will publish a policy offering subsidies for lithium-based electric vehicle (EV) battery manufacturing, which will determine the response to an invitation from the Bolivian government for joint ventures (JVs) in lithium-rich Latin American nation. The... →

Lifting of Karnataka iron-ore restrictions brings miners and consumers into fresh conflict

31st July 2018 The Central Empowered Committee (CEC), the body appointed by India’s Supreme Court on all matters related to mining, has recommended lifting restrictions on iron-ore pellet exports from the southern province of Karnataka, bringing to the fore the conflict between producers and consumers of the... →

India’s NMDC bags gold mine through highest bid at auctions

30th July 2018 Indian State-run iron-ore miner NMDC will mark its maiden foray into gold mining, having bagged a gold mine in the southern province of Andhra Pradesh. NDMC was able to secure the rights to develop and produce from the gold mine emerging as the highest bidder at the auction pipping majors like... →

India to shift to revenue sharing contracts at oilfields auction next month

30th July 2018 KIndia will usher in a shift to revenue-sharing contracts and scrap production sharing contracts (PSCs) when the government auctions 60 discovered small oilfields next month. The government will put up for auction 22 fields owned by national oil exploration and production (E&P) major ONGC, five... →

India makes tentative moves towards single tax rate for mining sector

27th July 2018 India’s Steel Ministry has made the first tentative move towards achieving a single unified tax for the mining industry, subsuming the plethora of taxes currently payable by miners. Ministry officials acknowledged that the goal of having a single rate of tax for the mining industry would be... →

India readying to lift ban on gold imports from South Korea

25th July 2018 A sharp fall in gold imported into the country during the first quarter of the current financial year has prompted the Indian government to move toward an early lifting of the import ban of the precious metal from South Korea. With gold imports down 25% during first quarter at $8.43-billion and... →

Coal India production picking up but domestic shortage to persist for 2 to 3 years

24th July 2018 Green shoots are emerging for State-owned miner Coal India Limited (CIL), with first-quarter coal production and sales increasing, but the government has warned that the domestic coal shortage will persist for the next two to three years. CIL achieved a production growth of 15% during the June... →

India takes step toward improving ease of doing business in mining

23rd July 2018 In a bid to ease doing business in the mining sector, the Indian government has approved a “single window” bundled clearance of all mandatory approvals for 288 mining leases that are slated to expire in 2020. Government officials said that new lease holders of these mines would not need to make... →

Indian iron-ore exports shifting from fines to pellets

19th July 2018 Indian international trade in iron-ore is shifting to more iron-ore pellets, rather than high-grade fines, prompted by changing preferences of overseas buyers. Information and data sourced from industry indicate that overseas shipment and sales realisations of iron-ore pellets are outstripping... →

Indian captive coal miners likely to be allowed merchant sale

16th July 2018 In a forthcoming revamp of coal block auction rules, India’s Coal Ministry is likely to allow captive miners free merchant sales of 25% of production in a step towards blurring the distinction between commercial and captive mining. The move towards greater flexibility for captive coal miners is... →

India’s Coal Ministry lays down conditions for thermal power plants to switch linkages

11th July 2018 India’s Coal Ministry has directed government coal mining companies to immediately implement rationalisation of coal linkages of independent power producers (IPPs), but has laid down strict conditions for the latter to be eligible to switch coal supply sources. Through a government order issued... →

ONGC’s Iran investment plans hit by India-US dialogue

9th July 2018 Indian national oil exploration and production major ONGC Limited’s protracted investment plans in Iran were receding further into the realm of uncertainty ahead of the upcoming India-US bilateral meeting. A resolution for ONGC, which has inched closer to finalising an agreement with Iran on a... →

Indian govt likely to backtrack on splitting GAIL

29th June 2018 In an apparent reversal of its earlier plans, the Indian government is toying with a proposal to create more independent verticals within gas infrastructure major, GAIL India, instead of splitting the company. According to indications available, the government is to accede to demands of GAIL and... →

India's options limited as US mounts pressure to stop oil imports from Iran

29th June 2018 With the Trump Administration mounting pressures on India to stop crude oil imports from Iran, the option of part barter and part payment in Indian currency to buy Iranian crude, may not work this time around. Unlike during earlier Western sanctions on Iran, India has devised a mechanism to... →

Indian government tighten screws on illegal miners

29th June 2018 In a further clampdown, the Indian government has issued a directive that illegal mining projects will not be regularised unless violators submit to the Supreme Court giving an undertaking of compliance and payment of court-imposed penalties. The fresh directive on illegal mining states that no... →

India permits oil exploration agencies to go beyond contracted geographical area

28th June 2018 In a bid to offer explorers the option of maximizing production, India’s Petroleum and Natural Gas Ministry has permitted oil and natural gas exploration projects to extend operations beyond geographically demarcated contract areas in instances where discoveries are contiguous and stretch beyond... →

India’s SCCL to get new coal blocks, foray into new business verticals

26th June 2018 Government miner Singareni Collieries Company Limited (SCCL) has adopted a twin-pronged expansion strategy to take its coal mining operations beyond its present southern Indian geographical boundaries and at the same time add new business verticals of ‘manufactured sand’ production and solar... →

CITU raises first red flag on Coal India disinvestment

25th June 2018 The Centre for Indian Trade Unions (CITU), the labour arm of Communist Part of India (Marxists), is first off the block in raising opposition to tentative plans for disinvestment of government equity holding in Coal India Limited (CIL). After failing to get any bidders for national air carrier... →

Indian State-owned firms mandated to acquire overseas lithium and cobalt assets

22nd June 2018 The Indian government has mandated all State-owned mineral-based companies to pool their resources to acquire lithium and cobalt assets overseas. A rough deadline of March 2019 has been set for these companies to complete all formalities, such as leveraging their balance sheets jointly, form... →

South Korea lobbies India to relax gold import restrictions

19th June 2018 The review and upgrade of the free trade agreement (FTA) between India and South Korea is facing a speed bump, with the latter seeking a relaxation of gold import restrictions. The South Korean government wants restrictions on gold shipments into India, imposed last year, to be scrapped,... →

New copper reserves established in India

18th June 2018 The Geological Survey of India (GSI) has established indicative reserves of copper in central Indian province of Chhattisgarh. The discovered copper reserves, spread across an estimated 25 km2, will be taken up for detailed exploration by Chhattisgarh Copper Limited (CCL) the recently floated... →

Ball set rolling for development of India’s largest coal block in West Bengal

13th June 2018 The ball has been set rolling for development of the Deocha-Pachami coal block, which at an estimated two-billion tons of coal is India’s largest. The block has been allocated to the government of West Bengal for development and production from the asset. →

India moots allocating coal blocks to oil companies for methanol production

11th June 2018 he Indian government has mooted a proposal to allocate coal blocks to national oil refining-marketing companies to produce methanol and to reduce dependency on imported crude oil-based diesel consumption. The work-in-progress proposal under the Road Transport Ministry will be submitted to the... →

Venezuelan oil crisis threatens to turn ONGC Videsh asset

8th June 2018 India’s ONGC Videsh’s, the overseas arm of national oil exploration and production (E&P) major ONGC Limited, hopes of recovering $450-million of past dues has receded into uncertainty. ONGC Videsh holds a 40% stake in San Cristobel oilfields, in Venezuela, but is yet to receive a dividend payout... →

Nalco firms up capex for current financial year

31st May 2018 Indian government-owned aluminium producer National Aluminium Company Limited (Nalco) has set a capital expenditure (capex) target of $164-million for the 2018/19 financial year. According to an agreement signed with the Mines Ministry, the capex will be increasing on adding a... →

India revives coal sector regulator proposal

30th May 2018 With the auction of coal blocks for commercial mining scheduled for next month, the Indian government has revived a proposal to sett up a coal sector regulator. The Coal Ministry has already announced rules for the auction and is in the final stages of drawing up a list of coal blocks that will... →

Coal India to hike daily supplies even as governments differ on coal shortage

30th May 2018 On the directive of the Power Ministry, Coal India Limited (CIL) will supply 1.4-million tons a day to all thermal power plants across the country, even as federal and state governments joust over whether the domestic power sector is facing a dry fuel shortage or not. Soon after taking charge,... →

GAIL India seeks to maintain its gas pipeline business

29th May 2018 Indian government-owned natural gas importer and infrastructure provider GAIL India has agreed, in principle, to unbundle its gas marketing and pipeline operational business, but only after a domestic gas trading hub has been established and a trading market has developed to an optimal level.... →

Indian govt order on preferential allotment skews coal distribution

28th May 2018 The Indian government has directed coal companies to make preferential allotment of coal to government-owned thermal power companies, skewing distribution of dry fuel to the detriment of other industries, like cement, steel and captive power plants. The government order from the Coal Ministry to... →

Indian thermal power plants reeling from coal shortages

24th May 2018 Private and public thermal power plants across India are facing an acute shortage of coal, at a time when rising electricity demand during summer months has sent the spot price of electricity skyrocketing. According to data sourced from industry policy advisory body, the Central Electricity... →

Indian potash imports to fall this year

23rd May 2018 Indian imports of potash during the current financial year are expected to fall by 5% to 6% in the wake of a government cut in subsidies and the rapid depreciation of the local currency. According to government officials in the Agriculture Department monitoring fertiliser demand and availability... →

India allows power producers to switch coal linkages

21st May 2018 The Indian government has announced that private thermal power companies will be allowed to switch coal supply linkages from one coal company to another, but electricity producers are not sure that the move will deliver industry-wide benefits. Based on recommendations of an interMinisterial... →

India reverses decision to privatise small, ageing oil and gas fields

17th May 2018 Reversing its earlier decision to privatise small, ageing or underperforming oil and gas fields held by national exploration and production (E&P) companies, the Indian government has now directed companies to submit time-bound action plans to boost production from these assets. Earlier this year,... →

US exit of Iran nuclear deal places new risks on $4bn India gas project

10th May 2018 US President Donald Trump’s tearing up the multilateral nuclear deal with Iran has thrown a new spanner in works of India’s protracted plans to develop Farzad B offshore gasfields along the Persian Gulf coast. The consortium of Indian companies, led by national exploration and production (E&P)... →

Indian iron-ore production at 7-year high, but unsold low-grade stocks pile up

8th May 2018 Indian iron-ore production has touched a seven-year high of 210-million tons during 2017/18, but industry is facing a piquant situation of a mounting stockpile of unsold carryover low grade iron-ore lumps and fines. Official state-wide production figures are yet to be compiled for last financial... →

Foreign bidders give India’s maiden open acreage oil, gas block auction a miss

3rd May 2018 International oil and gas exploration and production (E&P) majors have stayed away from the first round of India’s oil and gas fields auction. According to the sector regulator, Directorate General of Hydrocarbons (DGH), 110 bids have been received for 55 onshore and offshore oil and gas blocks,... →

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