No obligation to award project to India, Iran says on Farzad B field row
The Dollar Business Bureau Despite India’s offer to spend around $11 billion (about Rs.70,000 crore) for the development of Farzad B gas field in Iran and building the infrastructure for exporting the gas, Tehran had stated that it is under ‘no obligation’ for awarding the contract for the gas field to India, according to media reports. New Delhi is willing to invest as long as Iran assures a “reasonable return” on the gas project. India’s state-run oil company ONGC Videsh Ltd has given the offer for investing around $6 billion in the Farzad-B gas field project and the remaining amount to spend in building a facility for liquefied natural gas (LNG) exports. On the contrary, Iran has signed an agreement with Russian gas ...
Mercedes-Benz to bring in BS VI emission models to India in 2018
The Dollar Business Bureau Mercedes Benz is planning to bring in BS VI emission compliant models into India in 2018. A press release to the media said that the company is also willing to forge partnership with oil firms for higher grade oil needed for these models. The car maker has already sought help from various ministries, including Ministry of Road Transport and Highways, which has asked them to get in touch with the oil and gas firms. "We would be ready as early as 2018. We could bring the first set of vehicles in 2018 into the country," Mercedes-Benz India Managing Director and CEO Roland Folger told PTI when asked about the company’s plans regarding launch of vehicles compliant with Bharat ...
Oil companies slash jet fuel price by 11.7%
Source: PTI ATF or jet fuel price was on Tuesday slashed by a steep 11.7% while rates of non-subsidised cooking gas LPG were reduced by Rs.25.5 per cylinder in line with dip in international prices. Aviation Turbine Fuel (ATF) price in Delhi was cut by Rs.5,469.12 per kilolitre (kl), or 11.7%, to Rs.40,938.24 per kl, oil companies announced on Tuesday. This is one of the steepest reductions, the biggest being a cut of Rs.7,520 per kl, or 12.5%, on January 1. Prior to Tuesday's reduction, jet fuel rate was cut by 9.4% to Rs.46,407.36 on August 1 and by Rs.2,086.56 per kl to Rs.51,267.36 on July 1. ATF, just as fuel in aeroplanes, on Tuesday costs 33% less than petrol that ...
