Author: Admin

Reliance Industries and its partners have been directed by the oil ministry to pay $2.81 billion following a Delhi High Court ruling in a gas dispute. Reliance plans to challenge the judgement, arguing that the demand is unsustainable and expects no liability.

The Competition Commission of India approved JSW Energy’s acquisition of KSK Mahanadi Power, which owns a 3,600 MW thermal power plant in Chhattisgarh. This transaction will increase JSW Energy’s locked-in thermal generation capacity significantly. Additionally, CCI approved Shell’s acquisition of Raj Petro Specialities.

India is geared up to handle a peak power demand of 270 GW this summer, implementing measures such as full-capacity operation of imported coal plants, increased use of gas-based power, and water conservation for hydroelectric projects. The Central Electricity Authority emphasizes removing power shortages, particularly during crucial months.

Jindal Power has emerged as the successful bidder for Bhadreshwar Vidyut, securing it with a bid of around Rs. 500 crore. Bhadreshwar Vidyut, which operates thermal power plants in Gujarat, is under insolvency and owes Rs. 1200 crore to lenders. The resolution plan is now pending approval from the national company law tribunal.

The Ministry of Petroleum and Natural Gas has demanded $2.81 billion from Reliance Industries Limited and its partners over a dispute regarding gas migration from ONGC’s blocks to the KG-D6 block. This follows a court ruling that reversed a previous decision in favor of Reliance.

Oil companies should utilize railways or competitors’ pipelines for transporting petroleum products over long distances to avoid accidents, as per new safety guidelines by the Petroleum and Natural Gas Regulatory Board. These guidelines follow a fatal LPG tanker accident in Jaipur and aim to enhance road transportation safety, including a night driving ban on petroleum tankers.

India’s power consumption in February increased to 131.54 billion units, up from 127.34 billion units last year. Peak power demand also rose to 238.14 GW. The Indian Meteorological Department predicts a hotter-than-usual March, with more heatwave days, leading to higher power usage due to fans, coolers, and air conditioners.

Hindustan Power, led by Ratul Puri, commits Rs 620 crore to power and battery energy storage projects in Assam. The MoU signed at Advantage Assam 2.0 will see the development of a 100 MW solar power plant and a 100 MW battery storage system, creating over 5,000 man days of employment.

Larsen & Toubro’s power transmission and distribution vertical has won new domestic and international contracts. In India, it will handle the transmission for a Renewable Energy Zone in Uttar Pradesh and a non-fossil fuel-based power plant in the south. International orders include a Gas Insulated Substation in Saudi Arabia and a new grid station in Abu Dhabi.

Creditors of KSK Mahanadi Power are seeking NCLT’s approval to distribute ₹4,300 crore of surplus cash before the fiscal year-end. JSW Energy’s winning bid requires payment completion by May, so an interim cash distribution is being requested to settle lenders’ dues promptly.