Twesh Mishra | New Delhi Last Updated at January 27, 2021 22:43 IST
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While the price of crude oil in India did not go into negative territory, it remained low enough to strain exploration and production (E&P) companies.
Crude oil in India is traded close to the Brent, a price that is the benchmark for African, European, and Middle Eastern crude oil.
“With Brent trading below $45 a barrel for most of the financial year, domestic oil companies have faced severe headwinds.
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2021 budget to achieve nearly $1 billion of synergies in first year Toronto Stock Exchange:CVE
CALGARY, Alberta, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has delivered a disciplined 2021 capital budget focused on maintaining safe and reliable operations while positioning the company to drive enhanced shareholder value.
The budget anticipates Cenovus achieving nearly $1 billion of synergies in 2021 as a result of its recent transaction with Husky Energy, putting the company firmly on track to reach its planned $1.2 billion in annual run-rate synergies by the end of 2021. The budget also includes $520 million to $570 million for the Superior Refinery rebuild, with a substantial portion of the go-forward costs expected to be recovered through insurance proceeds.
UK body sets billion-pound budget for COVID financial firm collapses | Reuters
LONDON (Reuters) - Britain's scheme for compensating consumers hit by financial company failures has set itself a billion-pound ($1.37 billion) budget for the coming year to cope with a likely surge in collapses due to COVID-19.
The Financial Services Compensation Scheme's (FSCS) budget of 1.04 billion pounds for the 2021/22 financial year that starts in April is its highest in six years.
The FSCS also said it would add 78 million pounds to the current year's budget - a lower than expected increase - due to more firms failing, pushing the total for 2020/21 to 700 million pounds.
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West White Rose project owner Cenovus Energy releases 2021 budget | Regional-Business | Business
News on the future of the West White Rose project in Newfoundland and Labrador was limited as the new operator Cenovus Energy released its 2021 capital budget Thursday.
Weeks after the company finalized its acquisition of Husky Energy, Cenovus CEO Alex Pourbaix addressed the future of East Coast operations during a conference call with investment analysts and media.
"I think the right way is really to think about all of those assets together and when you hear (chief operating officer Jon McKenzie) or myself talk about that East Coast business, we have put it largely on hold for the time being," he said Thursday. "Right now, with energy prices where they are, it remains a very challenged business unit for us, and we're going to take the entirety of this year at least, to assess the viability of that business going forward."
A playbook for Budget 2021 to boost electronics manufacturing in India | Business Insider India
Budget 2021 alton robot request nirmala sitharaman automation expectations | Business News –
Inker Robotics, a leading robotics company in India, has made an indigenously developed humanoid robot named Alton, which has forwarded a request to Finance Minister Nirmala Sitharaman ahead of the Union Budget. Developed at Inker's R&D centre, Alton is a modular training robot designed to enable an experiential learning experience in the field of robotics.
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In an interaction with Rahul P. Balachandran, CEO of Inker Robotics, Alton has shared his views and expectations for the upcoming Budget.
What can Budget 2021 do for the real estate sector? | Business News,The Indian Express
Real estate sector is one of the hardest-hit sector by the prolonged lockdown imposed due to the Covid-19 pandemic . Real estate being the second-highest generator of employment and contributing more than 8 per cent to the economy, its revival is one of the key issues that need to be addressed under this year's budget of 2021-22.
However, the real estate sector is still in dire need of an intervention of the Government to overcome the slowdown it has been facing since long. The expectations from 2021-22 budget are high and the industry is awaiting big announcements that not only revive the ailing sector but also alter the future of the real estate sector.
Happening on Twitter
.@JoeBiden'sexecutive order marks the first step towards oil and gas leasing reform on federal land in the West. https://t.co/5INfjRkIdh highcountrynews (from U.S. West) Fri Jan 29 23:21:00 +0000 2021
Norway's decision to drop its shares in oil and gas companies is a big deal because, as @billmckibben tweeted, the… https://t.co/77oSp4mO77 voxdotcom Fri Jan 29 22:55:05 +0000 2021
This week Norway awarded 61 new oil and gas exploration rights to 30 oil companies. Sweden's Lundin Oil was awarded… https://t.co/RcS5Hmn3hO GretaThunberg (from Sverige) Sun Jan 24 09:44:05 +0000 2021
„Oil and gas companies knew they would face a fight with President Joe Biden, who had campaigned on tackling climat… https://t.co/B9Osr9pPYN TerliWetter (from Planet Earth) Fri Jan 29 11:25:52 +0000 2021
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