Search Result for : Energy Sector

The Dollar Business Bureau Prime Minister Narendra Modi on Monday thanked Russian President Vladimir Putin and Petroleum major Rosneft, for their support and commitments to the Indian energy sector. He was referring to the $12.9 billion deal by Rosneft to acquire debt-ridden Indian refiner Essar Oil, which the two leaders helped to seal and has strengthened ties between the biggest producer and the third largest consumer of oil in the world. Modi, however, said that the status of the energy sector in India is highly uneven, while interacting with the CEOs and experts from oil and gas industry from across the world, in a meeting held in New Delhi.  The Prime Minister sees scope for further reforms in India’s oil and gas sector and ...

The Dollar Business Bureau  NITI Aayog, the Government think-tank, has decided to combine the 15-year vision document with 7-year medium-term strategy paper to bring out a comprehensive roadmap to accelerate the economic growth. “We are thinking of having a brief chapter regarding the vision in the 7-year strategy paper which will be a bulky document outlining the action plan for expediting growth. The vision document will be aspirational, about the kind of country we want to build...The kind of society we want to be in. It will be a kind of vision for the future,” Arvind Panagariya, Vice-Chairman, NITI Aayog told the media. Panagariya said that the Aayog has got reactions from around 10 states on the 3-year action agenda draft and will conclude it within 2 weeks. Earlier, the Government think thank had ...

The Dollar Business Bureau  To catch up rapidly in development, India is “thinking big and moving big” as the country lags behind its neighbour China, by providing huge opportunities to a nation like the US, a University of Maryland Professor told the American lawmakers.  “India is moving quite quickly in a number of areas as well, again, on renewable energy, which is a kind of golden thread running through this hearing. India is thinking big and moving big,” said Robert Orr, Professor and Dean, University of Maryland, School of Public Policy, at a Congressional hearing.  Replying to a question, he said that India has big goals on wind and solar. The country is not only meeting them but also surpassing them. These areas ...

The Dollar Business Bureau Power and Renewable Energy Minister Piyush Goyal on Friday said India’s solar power generation capacity would most likely cross 20,000 MW over the next 15 months from its current capacity of 10,000 MW. "On 10th of March this year the installed solar power capacity in India has crossed 10,000 MW, four times the installed capacity three years back, which in next 15 months would cross 20,000 MW," a Power Ministry said in a statement. Speaking at a media event, Goyal said: "India could not have completely focused on Making in India' in the last three years as being in the nascent stage, its solar power sector needed a technological and financial boost from abroad to rapidly expand its horizons." The ...

The Dollar Business Bureau India’s energy market is set to explode in the near future, and by the early 2020s, the country will overtake Russia to become the world's third-largest refinery, according to a top official of the International Energy Agency. Speaking to the reporters on the margins of the international oil and gas meet CERA Week, Fatih Birol, Executive Director of IEA, said: "India is moving to the centre stage of global oil and energy markets. It is not only oil. It is coal. It is solar. It is out of the strong growth in the economy and the population growth." Petroleum Minister Dharmendra Pradhan is leading the Indian delegation to the event, which is also being attended by ...

Manish K. Pandey | The Dollar Business Amid all the hullabaloo over demonetisation of Rs.500 and Rs.1,000 bank notes in India and Donald Trump winning US Presidential Election 2016, one vital news that couldn’t dominate headlines was the ‘Indo-Japan Nuclear Deal’. It isn’t just another civil nuclear deal between two nations. Though India has signed similar deals in the past with other countries including France, US, Canada, UK, South Korea and Australia, this one with Japan is special. The exchange of papers makes India the first non-NPT (Treaty on the Non-Proliferation of Nuclear Weapons) nation to sign a civil nuclear agreement with Japan, a country which is the only victim of nuclear weapons and as such has always been wary of signing ...

The Dollar Business Bureau Leviathan offshore gas field of Israel has inked a landmark agreement to supply natural gas to National Electric Power Co (NEPCO) of Jordan over 15 years, in a pact valued at $10 billion. “The deal was signed on Monday with Jordan’s NEPCO for supplying 300 million cubic feet daily over a period of 15 years,” US company Noble Energy, the key partner, said in a statement. The deal includes an option to buy an additional 50 million cubic feet to make an overall of 350 million per day. “Gross revenues from the contract are expected to be around $10 billion,” it added. “The supply to NEPCO is likely to start at the same time as the expected 22 trillion cubic foot field ...

Sharath Chowdary The bilateral trade between the United States and India is going to triple in the next ten years, US Ambassador to India Richard R Verma told The Dollar Business Bureau. He said this after delivering a speech on ‘India after COP21’ held in Hyderabad on Friday. Recently, the Atlantic Council had announced an initiative to increase the Indo-US bilateral trade from the current $100 billion to $500 billion in the coming decade. When asked how the US intended to go about it, Verma said, “The bilateral trade target set by the council is little bit ambitious, but the trade will definitely triple over a period of one decade.” Praising PM Modi’s drive for renewable energy in the country, he said, “Narendra ...