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1 mn barrels of Guyanese Liza crude loaded for Indian Oil Corporation

In a concrete step in India-Guyana economic relations, the first one million barrels of Guyanese Liza crude for Indian Oil Corporation Ltd. (IOCL) has been loaded from FPSO Liza Destiny, informed the High Commission of India in Guyana on Sunday. "Concrete step in Indo-Guyana economic relations, 1st 1 million barrels Guyanese Liza crude for @IndianOilcl loaded from FPSO Liza Destiny destination. India enhanced cooperation plus important step in the diversification of crude sourcing and future roadmap," the High Commission said in a tweet on Sunday. Earlier, Indian Oil Corporation Ltd. also tweeted saying it is a giant step by India and Indian Oil towards diversification of crude sourcing.

Telecom Watchdog wants govt to reject Vi plea for deferring payments

Vodafone Idea can raise funds through equity sale or promoters can infuse capital which can be used for clearing dues, non-profit entity Telecom Watchdog said in a letter to telecom minister while demanding rejection of the debt-ridden company's request seeking more time to pay dues of Rs 8,292 crore. Vodafone Idea (Vi) has approached the government to seek one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore, due in April 2022. Vi, in a letter to the telecom secretary on June 25, 2021, said it would be unable to pay the instalment of Rs 8,292 crore due on April 9, 2022 due to cash being used for payment of AGR (Adjusted Gross Revenue) dues and the inability of the operations to generate the required cash in a predatory pricing situation.

Tata Steel April-June crude steel output up 55% YoY to 4.62 million tonnes

Tata Steel crude steel production grew 55 per cent in Q1FY22 to 4.62 million tonnes as against the same period last year which was impacted due to the Covid-19 pandemic and the stringent nationwide lockdown. Tata Steel India deliveries increased by 42 per cent in the period under review to 4.15 million tonnes on a year-on-year basis. During the quarter, the company's crude steel production declined 2.6 per cent sequentially due to the supply of over 47,800 tonnes of liquid medical oxygen to hospitals amid the second Covid-19 wave.

JK Cement sees 10% revenue growth in FY22, aims to be 25-MT firm in 5 years

JK Cement Ltd, part of J.K. Organisation, targets up to 10 per cent growth in its revenue this fiscal, helped by the government's push for infrastructure, a good monsoon and pent-up demand for the sector, said a top company official. Despite a blip in sales in the April-June 2021 quarter on account of pandemic-led disruptions, JK Cement is "optimistic" and expects its growth momentum to continue in 2021-22 also, recovering quickly in the rest of nine months led by a "good growth", JK Cement Chief Operating Officer (Grey Cement Business) Rajnish Kapur told PTI.

ONGC charts Rs 30,000 cr capex for FY22 with 50% in turnkey projects

Oil and Natural Gas Corporation (ONGC) earmarked Rs 30,000 crore towards capital expenditure in financial year 2021-22, and aims at an out put of 22.56 million tonnes of crude oil and 24.89 billion cubic metres of gas during the year. “ONGC estimates to spend Rs 15,500 crore in major lumpsum turnkey projects, Rs 13,600 crore on major services, Rs 2,250 crore on major material procurement in financial year 2021-2022,” a company statement said. To aid domestic oil and gas industry, ONGC said it has provided a list of required goods and services over the coming five years.

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