Domestic gas prices may be fixed at $2 lower than the $8.8-per-unit price discovered by the Rangarajan commitee constituted to suggest changes in the production-sharing contract and future domestic gas-pricing mechanism.

Sources said the oil ministry agreed to the basic principle of gas pricing suggested by the panel, but wants it to be modified slighty to also take into account gas prices in countries such as Malaysia, Saudi Arabia, Qatar and Nigeria that account for a major portion of India's liquified natural gas imports.

Govt expected to save 15% on this account

In a measure that would give relief to the government’s subsidy bill, the Union Cabinet today gave a nod to the Nutrient-Based Subsidy (NBS) rates for phosphatic and potassic (P&K) fertilisers for 2013-14. These are expected to cut the fertiliser subsidy by about 15 per cent in the current financial year, compared to 2012-13. After oil and food, the fertiliser sector is the third largest contributor to the government’s subsidy bill. According to the Budget proposals, the Centre wanted to cut the subsidy bill on these three to Rs 2.21 lakh crore for 2013-14, as compared with about Rs 2.47 lakh crore during 2012-13.

The country that is the world's largest investor in clean energy was dragged into yet another investigation into the subsidies it provides last week.

Mangoes ripened by using chemicals sold in local markets of Janakpur have started making people ill.

Ten solar power producers, including Jackson Ltd, Vikram Solar, Symphony Vyapar Pvt Ltd and Lexicon Vanijya Pvt Ltd have written to the ministry of new and renewable energy (MNRE) saying imposition of anti-dumping duty on solar imports will severely affect the fledgling Indian solar industry.

Producers and equipment manufacturers have been at loggerheads since the latter filed an anti-dumping case against China, the US, Taiwan and Malaysia last year for imported solar panels. Producers have called a halt to such measures till phase two of the national solar mission begins and new projects are commissioned.

Rs 60,352-cr impact on power, urea makers; FinMin comes up with its own formula

Even before an empowered group of ministers starts deliberating on a revision in natural gas prices, the finance, power and fertiliser ministries have raised a red flag on the recommendations of the Rangarajan panel. Only the Planning Commission seems to be in agreement with the committee’s proposal to use a proposed formula as “an interim or transitional solution” till March 2017.

India has aggressive renewable energy targets and industry energy efficiency policies. But it faces significant infrastructure challenges which may derail otherwise good policy.

Ministries of coal & power have sided with PSU power utilities

The much-touted plan to optimally distribute the higher cost of imported coal among power producers via a price-pooling mechanism with cheaper domestic coal may go haywire. While a host of large upcoming private power projects would have increased their viability under the proposed regime, two key administrative ministries — those of power and coal — have virtually sided with public-sector power utilities, who fear losing their current cost advantage if price-pooling is implemented.

A staggering 6,000 tonnes of waste tailings have been seized in China's Shanghai city during a crackdown on illegally imported garbage last month, officials said.

India is unwilling to impose restrictions on its oil imports from Iran and will continue its energy ties with Tehran as long as it gets a “good deal” and logistic support, even as one national insu