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Even as the ordinance allowing reallocation of coal blocks cancelled by the Supreme Court received presidential approval Tuesday, the Indian industry welcomed the move saying reforms towards a transparent allocation system must provide a level-playing field for both public and private sectors.
The central government Tuesday decided to amalgamate NSEL with its parent Financial Technologies (India) Ltd. (FTIL) to secure the interests of about 13,000 investors of the Rs.5,600-crore fraud-hit company.
The world's first floating gas liquefaction plant is due to begin operating next year off the coast of northern Colombia under a pact between Canada-based Pacific Rubiales Energy and Belgian shipbuilder Exmar.
Oil and gas major Cairn India reported a 33 percent fall in net profit for the second quarter ending September on back of lower oil prices and production in results announced Tuesday within days of the government announcing the new price for natural gas.