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Iran seeks payment in euros for new oil sales and old dues from India, others

A source at state-owned National Iranian Oil Co (NIOC) said Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total, Spanish refiner Cepsa and Litasco, the trading arm of Russia's Lukoil.

 
 
Power generation in India grew by 6 per cent in January 2016 as per the tentative estimates released by the Central Electricity Authority.
The plant, a bio methanation variety, will become operational at the station by June 2016.

State-run miner Coal India on Monday said it acheived a production of 52.86 million tonnes coal in January, lower than the target of 56.18 MT for the month.
The fall in the forecast is being accounted to resumption of oil exports by Iran. Oil prices are currently at a low of $30-$28 this month, last seen in 2003.
Neyveli Lignite Corporation Chairman and Managing Director Sarat Kumar Acharya said that NLC plans to build 19,000-MW capacity by the year 2025.

 
 
Strategic storage reserves are underground rock caverns used to store crude oil that can be used in case of a supply cut-off to a country.
The top VC funded company in 2015 was ReNew Power Ventures, an independent power producer, which raised $265 million.
The nuclear project at Jaitapur is currenlty in the preliminary technical studies stage and had received environmental clearances in 2010.
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