R/€ = 14.38 Change: -14.24
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Au 1242.17 $/oz Change: -1.77
Pt 918.50 $/oz Change: -0.50

Ajoy K Das

India seeks to extend LNG, energy cooperation with Qatar

21st June 2017 Despite Qatar being pushed into diplomatic and economic isolation by its neighbours, India is deepening economic cooperation in liquefied natural gas (LNG) and energy with new proposals and initiatives. The Indian government has proposed a fresh long-term LNG purchase agreement, while the Qatari... 

Gold import disruptions feared under new Indian indirect tax regime

19th June 2017 Indian bullion traders and jewellers have expressed concern that the reformed Goods and Service Tax (GST), which will be introduced on July 1, could impact on gold imports. Several gold market participants have said that most designated gold importers, including nominated commercial banks and... 

India’s Mines Ministry seeks to combat illegal mining of minor minerals

15th June 2017 With the Indian Mining Tenement System (MTS) for major minerals nearing completion, the Mines Ministry has started laying the foundation for the eventual addition of minor minerals to the portal in an effort to help mitigate against illegal mining. The inclusion of minor minerals, currently the... 

India assures domestic coal supplies for steel, cement companies

15th June 2017 In another step towards zero coal imports, India’s Coal Ministry has offered assured domestic coal supplies to companies outside of the power generation industry. Under the new framework, coal consuming companies in the steel, cement and fertiliser sectors, would receive coal supplies from Coal... 

Coal India will not be unbundled – Minister

12th June 2017 India’s Coal Ministry is unlikely to break up the monolithic corporate structure of Coal India Limited (CIL) as recommended by a government policymaking body. “It is not at all advisable and we are not taking up the recommendation at all. CIL will continue to be one entity,” Coal Minister Piyush... 

No response from Mozambique to Coal India’s plea for new block

8th June 2017 After relinquishing its exploration blocks in Mozambique in September last year, Coal India Limited (CIL) has submitted a new proposal, but has not had any feedback from the African nation. “A request had been made to the government of Mozambique for allocation of a new coal block for exploration... 

Stricter monitoring for Indian oil and gas companies

6th June 2017 The Indian government has announced the appointment of two ‘super’ committees to monitor the operations of national oil and gas exploration and production (E&P) companies. The committees, which will be above the level of the national oil companies’ boards, will be able to force State-owned... 

India’s Nalco to open new bauxite deposit at its existing mines

31st May 2017 Hit by delays in securing a new mine, integrated aluminium producer, National Aluminium Company Limited (Nalco), has started the process to open a new bauxite deposit near its existing Panchpatmali mines in Odisha. The opening up of the new deposit along the south face of its existing mining... 

Indirect tax on coal to be lower, but cess to stay under reformed Indian indirect tax regime

31st May 2017 India’s reformed indirect tax regime, the Goods and Services Tax (GST), will lower the cost of coal and electricity tariffs, but will not subsume the current rate of cess on the fuel. Under the GST, the indirect tax incidence on coal will be reduced to 5% from 11% at present, and according to a... 

India considering incentives for foreign companies in hydrocarbon sector

29th May 2017 The Indian government is working on a draft proposal to offer upfront incentives, including a capital subsidy and liberal export rules, for foreign oil and gas companies that are expected to participate in the newly unveiled open acreage hydrocarbon bidding process. According to an official... 

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