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| IOC seeks $8-10 discount on Cairn
crude NEW DELHI, Dec 6: Indian Oil Corp (IOC), country's largest refiner, may buy Cairn Energy Plc's Rajasthan crude oil but has sought heavy discounts to make .........more Siemen India offers subsidy of Rs 1000 to trainees CHENNAI, Dec 6: Siemen India today said a subsidy of Rs 1000 each would be offered to students undergoing .......more Cisco hints at manufacturing plans for India NEW DELHI, Dec 6: Global Data networking company, Cisco Systems today hinted at setting up its manufacturing plans ......more ONGC awards 388 mn dlr contract to Dubai-based NPCC NEW DELHI, Dec 6: State-run Oil and Natural Gas Corp (ONGC) has awarded a 388.19 million dollar contract to Abu Dhabi-based National Petroleum Construction Company (NPCC) for development ..........more |
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Export of iron ore to continue:
Minister NEW DELHI, Dec 6: India will continue to export iron ore as production outstripped domestic demand and future reserve accretion will suffice to meet ........more Almond, chilgoza strengthen in thin trade NEW DELHI, Dec 6: Prices of Almond and chilgoza strengthened on the wholesale dry fruit market today on steady inflow of ......more Cardamom brown, dry ginger weaken on poor demand NEW DELHI, Dec 6: Prices of Cardamom brown and dry ginger drifted in the wholesale kirana market today following ......more Prices remain flat in thin trade NEW DELHI, Dec 6: Steady conditions developed on the wholesale chemical market today with prices, after moving in a narrow range on small alternate bouts of buying and selling, settled around previous levels.The ...........more |
IOC seeks $8-10 discount on Cairn crude NEW DELHI, Dec 6: Indian Oil Corp (IOC), country's largest refiner, may buy Cairn Energy Plc's Rajasthan crude oil but has sought heavy discounts to make the lower grade crude economically viable. "We are willing to buy crude from Cairn provided it is at the right price. We have several months back discussed the issue and still maintain the stand that unless they give us good discount we cannot buy it," a senior IOC official said. The discounts being sought are in the range of 8-10 dollars per barrel to the market traded price. "A few months back when we discussed the issue, we wanted to lay a pipeline from Barmer district in Rajasthan to Papinat refinery in neighbouring Haryana. But talks broke as they were unwilling to give us discounts," the official said. Cairn's Rajasthan crude, which comes on stream in 2009, has high wax content and needs specialised pipelines with internment heating for transportation. It turns semi-solid at normal conditions and has no LPG potential and the Naphtha yield is also very low (less than 2 per cent). "Unless the cost of transportation and low yield is compensated by way of discounts, it is unviable for any refinery to process Rajasthan crude," he said. When contacted Cairn spokesperson David Nisbet said, "we are in continued negotiations with the government and third parties (for offtake of crude)." Currently, Oil and Natural Gas Corp's subsidiary MRPL is the official offtaker of the Rajasthan crude. But ONGC is neither keen on taking the crude to MRPL for processing nor is it going ahead with previously announced plans to build a refinery at Barmer to process the Rajasthan crude. (PTI) |
Siemen India offers subsidy of Rs 1000 to trainees CHENNAI, Dec 6: Siemen India today said a subsidy of Rs 1000 each would be offered to students undergoing computerised Numerical Control Machines training course , conducted by the Ambattur Industrial Estate Manufacturers association's training centre here. Distributing certificates to the first batch of trainees here last night, the company's Business head, Machines Tools Division, Satish Godbole said his company was even ready to sponsor those students who excelled in the training conducted by the centre at its factories in Germany or at Bangalore. The training was to trigger one's skills, he said adding that such programmes should produce at least 300-500 skilled workers every year, who had great prospects and good job opportunities. (PTI) |
Cisco hints at manufacturing plans for India NEW DELHI, Dec 6: Global Data networking company, Cisco Systems today hinted at setting up its manufacturing plans in India, which will include some of its mainline products like routers and switches. "The only thing we have not got here is manufacturing. We will talk about it in the evening. The company had committed 1.1 billion dollar investment in November last year. So Far in India we have presence in R&D campus, R&D resources, Cisco Capital, Business development/ventures and service agreement," Cisco Systems CEO and Chairman John Chambers said at the CII-CEO forum today. Chambers has a scheduled meeting with IT Minister Dayanidhi Maran in the evening and it is expected that the manufacturing plans will possibly be disclosed then. The 30 billion dollar company, treats India as a strategic market and its largest R&D centre is in the country. The company dominates the networking market in core technologies of routing and switching as well as WLAN and network security. (PTI) |
ONGC awards 388 mn dlr contract to Dubai-based NPCC NEW DELHI, Dec 6: State-run Oil and Natural Gas Corp (ONGC) has awarded a 388.19 million dollar contract to Abu Dhabi-based National Petroleum Construction Company (NPCC) for development of C-Series field in Mumbai High. "We last month signed the contract with NPCC," said a senior ONGC official. The C-Series Project involves survey, design and detailed engineering, procurement, fabrication, installation and commissioning of the four unmanned well platforms, and coating and laying of 180 kilometres of pipeline, and carrying out modifications on the existing NQG process platform at Mumbai High. The project is to be completed by April 20, 2008. The project is part of the C-Series development scheme approved by ONGC Board on September 8, with an investment of Rs 3195 crore. The scheme would be executed in three phases and the project is in its first phase. The scheme envisages producing gas over three million standard cubic metres and 700 to 1600 cubic metres per day of condensate over a period of 15 years. The C-Series field, which was discovered in 1990, is 60 kilometres west of Daman in the Tapti Daman block of Mumbai High. (PTI) |
Export of iron ore to continue: Minister NEW DELHI, Dec 6: India will continue to export iron ore as production outstripped domestic demand and future reserve accretion will suffice to meet projected demand and export obligation, Minister of State for Commerce and Industry Jairam Ramesh said today. "The existing iron ore export policy regulates and promotes judicious use of iron ore for domestic purpose and export of surplus quantity. Production of iron ore is in excess of current domestic demand," he said replying to supplementaries during Question Hour in Rajya Sabha. In 2005-06, India produced 155 million tons of iron ore. Exports were 89 million tons and another 58 million tons were domestically consumed, leaving a surplus of 8 million tons. "We cannot consume entire domestic production," he said adding exports will not happen at the expense of domestic industry. "Domestic manufacturers (of steel) will not be starved... Indian steel industry will have full access to domestic iron ore." Of exports, 74 million tons are to China and only 7 per cent is on long term contract. "With increased prospecting and exploration and new investment in mining, India's iron ore reserves will increase to comfortable levels to meet domestic requirement and export obligations," he said adding modest prospecting had seen iron ore reserve rise by 8 billion tons during past few years. The Minister said the production to export ratio for India was lower than iron ore rich nations like Australia and Brazil. Six states - Orissa, Jharkhand, Chhattisgarh, Karnataka and Goa - were dependent on iron ore mining for development of backward areas and employment. "84 per cent of exports are fine and concentrate which are environment hazards. We are not export lumps," he said. Jairam Ramesh said Japanese Steel Mills has been committed a minimum export of 3.47 million tons and a maximum quantity of 6.75 million tons. POSCO of South Korea has been committed a minimum of 0.80 million tons and a maximum of 1.60 million tons while Chinese Steel Mills has been committed a minimum of 2.50 million tons and a maximum of 3.10 million tons. (PTI) |
Almond, chilgoza strengthen in thin trade NEW DELHI, Dec 6: Prices of Almond and chilgoza strengthened on the wholesale dry fruit market today on steady inflow of buying by retailers amid negligible arrival and closed with gains. Other prices of dry fruits remained unaltered on little doing. The volume of business was restricted. Almond california quoted higher at Rs 11,000 against previous level of Rs 10,800 per 40 kg and its kernel also went up at Rs 385-390 instead of Rs 380-385 due to poor arrival from overseas markets. Chilgoza-roasted also improved by Rs 50 at Rs 650 against last close of Rs 600 per kilo. Following were today's quotations per 40 kgs bag: Almond (California)new 11,000, Almond (gurbandi) 6,000 Almond (girdhi) 3,800, Almond kernel (california) 385-390, Almond kernel (gurbandi) (kg) 400-430 and Abjosh Afghani 6,800-12,800 Chilgoza raw-new (1 kg) 370 chilgoza (roasted) (1 kg) 650 cashew kernel 1 kg (no 180) 430-460 cashew kernel (no 210) 360-365 cashew kernel no.(240) 300-320 cashew kernel (no 320) 250-262 cashew kernel broken 2 pieces 150-195 cashew kernel broken 4 pieces 155-185 cashew kernel broken 8 pieces 150-165 copra (qtl) 4,800-5,100 coconut powder (25 kg) 8,50-1,750 dry dates red (qtl) 2,000-4,700 fig 5,000-9,000 kishmish kandhari local 5,800-6,300 kishmish kandhari special 10,000-12,000 kiahmish indian yellow 2600-4000 kishmish indian green 3,500-6,000 pistachio Irani 490-500 pistachio Hairati 520-535 pistachio Peshwari 550-600 pistachio dodi (roasted) 395 walnut new 90-150 walnut kernel new (1kg) 250-350. (PTI) |
Cardamom brown, dry ginger weaken on poor demand NEW DELHI, Dec 6: Prices of Cardamom brown and dry ginger drifted in the wholesale kirana market today following withdrawal of stockists demand in the wake of fresh arrivals from producing centres coupled with lack of buying support and closed with fresh losses. Traders said sluggish demand from local traders and stockists mainly pulled down Cardamom and dry ginger prices. Cardamom brown Jhundiwali and kanchicut quoted lower at Rs 11,400-11,500 and Rs 12,500-16,500 from last close of Rs 12,000-12,300 and Rs 13,500-17,000 per quintal respectively. Dry ginger prices also traded lower at Rs 6500-8500 instead of Rs 8000-10000 per quintal on reduced offtake. Following were today's quotations (in Rs per quintal): Ajwain 4,000-6,500, black pepper golden Rs 10,300-10,500 Betelnut (kg) 95-110, cardamom brown (Jhundiwali) Rs. 11,400-11,500 cardamom brown (Kanchicut) Rs 12,500-16,500. Cardamom small (kg): Chitridar 170-270, cardamom (colour robin) 245-255, cardamom bold 260-275, cardamom extra (bold) 335-355 and cloves (kg) 230-265. Chirounji (new) (kg) 240-300 Dry mango 2,600-8,500 Dhania 3,500-6,000 Dry ginger 6,500-8,500 Kalaunji 8,000-9,500 Mace-Red (kg) 455-465 Mace-Yellow (kg) 440-445 Methiseed 2,600-4,000 Makhana (per kg) 115-150 Netmeg 225-235 Poppyseed (KG Turkey) 170 Poppseed (KG MP-RAJ) 165-205 Poppyseed (KG U.P.) 140-150 Red chillies 3,000-8,000 Soya bari pariwar (20 kg) 350-400 Saffron (kg) Irani 36,000-37,000 Saffron (kg) Kashmiri 44,000-50,000 Soanf 8,000-11,000 Turmeric 2,600-4,100 Tamarind 1,200-1,600 Tamarind without seed 3,000-4,000 Tea (kg) 70-120 Watermelon kernel 7,500-7,600 Jeera common 8,100-8,400 Jeera dollar 8,300-8,400 (PTI) |
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Prices remain flat in thin trade NEW DELHI, Dec 6: Steady conditions developed on the wholesale chemical market today with prices, after moving in a narrow range on small alternate bouts of buying and selling, settled around previous levels. The volume of business was thin. Traders said adequate stock against lack of buying interest mainly kept prices unchanged. Following were today's quotations: Ammonia bicarb (25 kg) 325 Ammonium chloride (50 kg) 760-1250, acetic acid (1 kg) 42, boric acid technical (50 kg) 2,850-3,000, borex granular (50 kg) 1250-1400. Caustic soda flake (50 kg) 1,350 citric acid (50 kg) (China) 2,400-2,600 citric acid deshi (50 kg) 2,500-2,900, camphor slab (1 kg) 185-195, camphor powder (1 kg) 170, glycerine (1 kg) 57-59, hexamine (1 kg) 60, hydrogen peroxide (1 kg) 31-32, mercury (34.5 kg) 31,500, menthol bold crystal (per kg) 865, menthol flake (1 kg) 825 and Mentha oil (1 kg) 675. Paraffin wax (50 kg)Iran 2550-2650 paraffin wax (50 kg)China 2800-2950 paraffin wax (50 kg) indian 3150 press wax (p tonne) 14,000 residue wax (p tonne) 25,000 soda ash (50 kg) (tata) 750 soda ash (50 kg) (dcw) 740 soda ash (50 kg) (gujarat) 740 soda ash (50 kg) (birla) 740 Sodium Nitrite (50 kg) 1350-1400 Sodium silicate (Qtl) 1000-1100 stable bleaching powder (shriram) (25 kg) 315 stable bleaching powder (chambal) 305 stable bleaching powder (modi) 320 tartaric acid france (1 kg) 382 thymol (1 kg) 590 titanium dioxide (ttk) (1 kg) 87 titanium dioxide (k-brand) (1 kg) 85 titanium dioxide (china) (1 kg) 80 titanium dioxide (TR-92) 130 titanium dioxide (rc-822) (1 kg) 130 oxalic acid (pcpl-red) 50 kg 2100 oxalic acid (pcpl-blue)50 kg 1725 Zinc oxide (kg) 125 (PTI) |
CIFA seeks Rs 18,000 cr allocation for irrigation sector... NEW DELHI, Dec 6: As part of its pre-Budget wishlist, an apex farmers body, CIFA, has demanded a whopping 18,000 crore one time investment in irrigation sector, farm loans at four per cent and a complete loan waiver on two successive crop failures. "Agriculture should be given highest priority in this year’s Union Budget to usher in a new era of Green Revolution in the 21st century," Secretary General of Consortium of Indian Farmers Association (CIFA) P Chengal Reddy told PTI. Reddy strongly advocated a simple interest rate regime of four per cent for all kinds of agricultural loans extended to a farmer. CIFA has also demanded fixing crop insurance premium at one per cent, while the assessment of damage be done on an individual crop basis. "We demand one time investment of Rs 80,000 crore for completion of the on going irrigation programmes duly approved," he said and added that efficient use of water can make the entire growth process in agriculture sustainable. It favoured loan waiver on two successive crop failure and suggested interest waiver on one crop failure. It sought excise duty waiver on agricultural inputs like veterinary medicines, irrigation equipment, plastic used for farm implements and equipments. CIFA asked the Finance Ministry to waive of the excise duties levied on processed food items to give a "big push" to the growth of food processing sector in the country. The CIFA recommendations, which came out at the end of its a two-day national farmers conclave held here earlier this week, have been submitted to the ministries of Finance, Commerce and Agriculture. CIFA demanded that tribal councils in Nagaland, and other North-eastern states like, Mizoram and Jharkhand should be given a status to extend credit facilities at village and district levels on par with self help groups and cooperatives. "We demand income tax levied on cooperative banks and cooperatives should be withdrawn with an immediate effect," Reddy said. It also strongly favoured extending fertiliser subsidy directly to farmers. It demanded a decentralised structure for research institutions and agriculture extension services. It felt that the entire responsibility of total seed replacement should be on the Central Government. Moreover, the Centre should take charge of breed improvement programme. CIFA demanded implementations of recommendations of National Farmers Commission, headed by M S Swaminathan, in a time bound programme. "We are completely in favour of democratisation of the various commodity boards. Actual farmers and processors should be inducted in these boards," he said. CIFA has demanded scrapping the existing method of Government acquiring land for projects of MNCs, SEZs, instead supported negotiations directly with the farmers for any such acquisition which is inevitable. It favoured adoption of a uniform long term ethanol policy to promote the bio-fuel’s blending with petrol. (PTI) |
Air-India inducts new aircraft after 10-yr gap NEW DELHI, Dec 6: State-run carrier Air-India today inducted a brand new aircraft to its fleet after a gap of ten years, and said it plans to induct a fresh batch of pilots keeping future deliveries in mind. "The last induction of a new aircraft was in 1996 when we had Boeing 747-400 and we have been struggling with old aircraft. With today’s induction of a brand new Boeing 737-800 for our sister concern Air-India Express and the deliveries to come in the next few months, we are preparing oursleves a force to reckon with in the golbal aviation space," Air-India Chairman and Managing Director V Thulasidas told reporters. He said the carrier was inducting a fresh batch of 20 pilots considering its future aircraft inductions. Air-India had last year placed an order for 68 aircraft from Boeing at a cost of 11.6 billion dollars. "We will continue to hire more pilots as we have many more aircraft to be delivered," he said, adding the airline was hiring expat pilots due to unavailability of qualified ones at home. Speaking on the occasion, Civil Aviation Minister Praful Patel said new aircraft should rejuvenate the state-owned carrier and prepare it for the tough cometition. "We need a strong national carrier which can withstand stiff competition in this age of perform or perish," he said. Allaying fears on the fallout of the merger of Air-India and Indian, the minister said the Government was fully supportive of the future of the merged entity. (PTI) IOC to set up petrol pumps in residential complexes NEW DELHI, Dec 6: Indian Oil Corporation (IOC) along with real estate firm Ansal Properties and Infrastructure Ltd will set up petrol stations at select residential and commercial complexes on an all India basis. An MoU has been signed to this effect between the two companies. The project would initially be on a pilot basis. IOC would also be supplying LPG to the residential township and fuel oils for the purpose of captive power generation in the commercial and residential complexes being set up by Ansal API. This facility would be spread to all properties across India, Ansal API Vice President Marketing Kunal Banerji said. (UNI) |
Upgradation of emergency services on NHs NEW DELHI, Dec 6: To upgrade emergency services on National Highways, the Centre has provided financial assistance to the tune of Rs 45 crore to state Governments, the Lok Sabha was informed today. In a written reply, Minister of State for Health and Family Welfare P Lakshmi said financial assistance has been provided to 104 such state Government hospitals for upgradation of emergency services on National Highways. The minister said during the current year, a provision of Rs 45 crore has been made. (PTI) |
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