Axiscades Wins UK Energy Storage Project
Axiscades Technologies has announced that its subsidiary has won a significant contract for an energy storage project with UK-based Highview Power. This project, centered around advanced energy storage solutions, is a pivotal step in Axiscades' expansion into the growing global energy sector. Highview Power, renowned for its innovative cryogenic energy storage technology, selected Axiscades for this project due to its expertise in engineering and industrial solutions. The contract underscores Axiscades' capability to handle large-scale, complex projects and highlights its role in advancing sus..
Windfall Tax on Crude Petroleum Reduced to Rs 2,100/Tonne
The Indian government has announced a reduction in the windfall tax on crude petroleum, lowering the rate to Rs 2,100 per tonne. This adjustment in tax policy reflects ongoing changes in global oil markets and aims to balance fiscal revenue with the economic impact on the oil industry. The windfall tax, initially introduced to capture excess profits from soaring oil prices, has been periodically adjusted to reflect fluctuations in crude oil prices and market conditions. The recent reduction signifies a response to recent trends in global oil pricing and the need to support domestic oil produce..
OVL Secures Contract Extension for Vietnam Oil Blocks
Oil and Natural Gas Corporation Videsh Limited (OVL) has secured a significant contract extension for its oil blocks in Vietnam. This extension allows OVL to continue its exploration and production activities in the region, reaffirming its commitment to expanding its international operations and securing valuable energy resources. The extension of the contract marks a crucial development for OVL, as it ensures the continuation of operations in these oil-rich blocks. The move is expected to bolster the company's production capabilities and enhance its strategic presence in the Southeast Asian o..