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Azure Power’s Revenue Increases by 40% to $35 Million in Q3 of FY2019

Date : Feb 15, 2019

Azure Power has announced its consolidated results for the third quarter ending December 31, 2018.

 

The total revenue in the third quarter of FY19 stood at ₹2.430.8 million ($34.9 million) which was up 40 percent, an increase of ₹690.9 million ($9.9 million) from the same period in 2017. The increase in the generated revenue was primarily driven by the projects commissioned since last year, according to the company. New solar projects drove Azure Power’s Revenue Up by 22% to $30.7 Million in Q2 2019.

 

Its adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization...

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ExxonMobil, Qatar Finalize Investment on $10bn LNG Export Project

Date : Feb 13, 2019

ExxonMobil and partner Qatar Petroleum said they made a final investment decision to proceed with the $10 billion development of the Golden Pass LNG export project located in Sabine Pass in the US state of...

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GE to Expand Renewable Energy Business with Grid Assets

Date : Feb 13, 2019

General Electric (GE) said that it intends to intensify its focus on the growing renewable energy market by consolidating all of the company's renewable and grid assets into a single, simplified Renewable Energy...

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Raysut Cement Signs Agreement to Upgrade Clinker Cooler Line 3 at Salalah

Date : Feb 13, 2019

Raysut Cement Company (RCC), Oman’s largest cement manufacturer, has signed an agreement with Ayoki Engineering for the upgradation of the company’s clinker cooler line 3 at Salalah in the sultanate's Dhofar...

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Abu Soud Appointed as Drake & Scull Group CEO

Date : Feb 12, 2019

UAE-based Drake & Scull International (DSI), a regional leader in engineering and construction services, has appointed Tawfiq Abu Soud as its new Group chief executive officer, replacing Yousef Al Mulla, who stepped down from his...

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EMEA Region Tops in Global Oil and Gas Project Contract Awards

Date : Feb 12, 2019

The Europe, Middle East and Africa (EMEA) region led the contract award activity in the oil and gas sector during the fourth quarter last year with 487 deals, representing around 43 per cent of the total awarded contracts, according...

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German Energy Grids Say Plans Ready for 100MW Hydrogen Plant

Date : Feb 12, 2019

German power and gas grid firms Amprion and Open Grid Europe (OGE) said on Monday they would shortly apply to build the country's first large hydrogen plant that can convert wind power to alternative fuels that are easier to store and...

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EIL Inks a Pact with Mongolia for Consultancy for Oil Refinery

Date : Feb 12, 2019

Mongolian government plans to set-up 1.5 million metric tonnes per annum greenfield crude oil refinery in Sainshand province. An agreement was inked between the ministry of petroleum and natural gas’s PSU Engineers India Ltd and the...

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Cairn India Focus is On Finding Partners for Oil & Gas Blocks: Sudhir Mathur

Date : Feb 12, 2019

Cairn India is pumping in money to ramp up oil and gas output in Rajasthan. Getting these projects executed is the key, Sudhir Mathur, CEO, Cairn India, told source now.

 

Edited excerpts:...

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IOCL Tops Bidders’ List for City Gas Licenses Followed by Adani, HPCL

Date : Feb 11, 2019

Indian Oil Corporation Limited has emerged as the biggest bidder for city gas licenses in the 10th bid round that also saw Adani Group, Hindustan Petroleum Corp Ltd (HPCL) and Indraprastha Gas Ltd as the other prominent bidders, according to...

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Modi Launches Developmental Projects in Andhra Amid Protests

Date : Feb 11, 2019

Prime Minister Narendra Modi on Sunday launched development projects here amid protests staged across Andhra Pradesh against his visit to the state. At an event, he unveiled plaques to formally unveil the projects which have come up or would...

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DEWA to Seek Partners to Build Solar-Powered Desalination Plant

Date : Feb 15, 2019

Dubai will seek partners this year to build its first solar-powered desalination plant as the emirate tries to diversify away from burning fossil fuels to increase its water supply, the head of the Dubai Electricity and Water Authority said.   The plant, using reverse osmosis technology, will have capacity to produce 120 million gallons a day of drinkable water by 2024, Chief Executive Officer Saeed Mohammed Al Tayer said in Dubai. DEWA is also developing a reservoir to hold as much as 6 billion gallons of water reserves, and the utility currently stores about 700 million gallons, Al Tayer said at the World Government Summit in Dubai.   Dub...

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UAE-based Tabreed Signs First District Cooling Contract in India

Date : Feb 14, 2019

UAE-based National Central Cooling Company (Tabreed) said it has entered into a 30-year concession with Andhra Pradesh Capital Region Development Authority (APCRDA) to build, own, operate and transfer its first district cooling system in...

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CM Patnaik lays Foundation Stone Laid for Odisha’s Subarnarekha Port

Date : Feb 14, 2019

Chief Minister of Odisha Naveen Patnaik laid the foundation stone of the Subarnarekha port in Balasore district of Odisha on 13 February 2019.

 

The proposed port is being developed by Tata Steel and Creative...

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Maire Tecnimont JV to Build Polymer Facility in Kizad

Date : Feb 14, 2019

Gulf Compound Blending (GCB), a newly-formed joint venture between Met T&S (Maire Tecnimont Group), M Cecchi & Co and Arab Development Establishment, is set to establish a new polymer facility within the Khalifa Industrial Zone Abu...

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Oman Signs Major Deals for Duqm Integrated Power & Water Project

Date : Feb 13, 2019

Oman-based Al Duqm Power Company has signed five major agreements for the construction of an integrated power and water plant in the Special Economic Zone of Duqm at an investment of $480 million, said a...

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BP India Likely to Complete KG-D6 Project by Next Year

Date : Feb 13, 2019

British Petroleum (BP) India on Tuesday said that it expects to complete the entire Krishna Godavari Dhirubhai 6 (KG-D6) project by next year. RIL, along with its partner BP India, is developing three sets of oil and gas discoveries...

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Venerable LNG Plans LNG Terminal in West Bengal

Date : Feb 13, 2019

Venerable LNG plans to set up a liquefied natural gas (LNG) terminal with a capacity of one million tpa at Haldia in Midnapore district of West Bengal.

 

The project will spread over 11.48 acre of land. In a...

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Adnoc Awards Onshore Block 3 Exploration Contract to Occidental

Date : Feb 12, 2019

Abu Dhabi National Oil Company (Adnoc) said it has awarded an onshore block – known as Onshore Block 3 – to US-based international oil and gas exploration and production company Occidental...

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Govt Nod for Setting Up 12,000 MW Solar Power Projects

Date : Feb 08, 2019

The government on Wednesday gave its nod to a proposal for setting up 12,000 MW grid-connected solar photovoltaic (PV) power projects with an estimated viability gap funding of Rs 8,580 crore.

 

The decision...

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Bahrain, Aramco to Conduct a Feasibility Study to Boost Oil Output

Date : Feb 08, 2019

Bahrain and Saudi Aramco have agreed to set up a team to conduct a feasibility study on boosting oil output, benefiting from the carbon dioxide produced by Saudi Aramco.

 

The decision came following a meeting...

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