Thursday, Jul 25 2024 | Time 07:05 Hrs(IST)
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Business Economy


ONGC and Indian Oil sign pact to set up LNG plant

New Delhi, June 21 (UNI) State-owned energy majors Oil and Natural Gas Corporation (ONGC) and IndianOil Corporation Limited (IOCL) have signed a memorandum of understanding (MoU) to establish a small-scale Liquefied Natural Gas (LNG) plant near the Hatta Gas Field in the Vindhyan Basin.
"The ‘non-binding MoU’ for a technology demonstration small scale LNG plant at Hatta, Madhya Pradesh’ between ONGC and Indian Oil is a visionary step towards a sustainable and prosperous future for India," a joint official release said here on Friday.
The establishment of the Hatta LNG plant will significantly enhance the Vindhyan Basin's status, upgrading it from a Category II to a Category I Basin.
The official release said that the plant will utilize cutting-edge technology to produce LNG, a cleaner alternative to traditional fossil fuels, significantly reducing carbon emissions and aligning with India's climate change mitigation goals.
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KPIT Technologies net up over 52 pc in Q1

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Telangana: COWE inaugurates 15th Aveksha day care centre for industrial workers

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TTML losses widen to Rs 323 37 crore in Q1

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Syngene’s Q1FY25 net profit down by 19 pc to Rs 76 cr

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Hyderabad, July 24 (UNI) Syngene International Limited, an integrated research, development, and manufacturing services company, on Wednesday announced its profit after tax (PAT) declined 19 per cent Year-on-Year to Rs 76 crores for the first quarter in FY25.

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