IIT Madras, ONGC sign agreement to boost operational lifecycle of platforms Posted on 20th September 2018 |
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| Indian Institute of Technology Madras (IIT-M) has announced a collaboration with Oil and Natural Gas Corporation Limited (ONGC) to enhance the operational life cycle of the latter's existing platforms and reduce running and operating cost by optimum use of offshore survey requirements. IIT-M is going to develop a database management system for all the more than 280 platforms of ONGC and develop software for structural integrity management system (SIMS) as well. Industrial Consultancy and Sponsored Research, IIT Madras, and Institute of Engineering and Ocean Technology (IEOT), ONGC, signed the agreement for the collaborative R&D project titled 'Development of Structural Integrity Management System (SIMS) For Offshore Platforms of ONGC'. The existing offshore platforms in Mumbai High have been operational for more than three decades. Though the design life has exceeded in some cases, oil and gas production still continues as their reservoirs are producing. Hence considerable effort has been spent on maintaining the structural stability and strength of these platforms for the past 10 to 15 years by both ONGC and IEOT in terms of mitigation measures such as underwater strengthening of members, removal of marine growth and many other activities, including load shedding in some cases. The synergy between IEOT and IIT-M will be continued to develop a technology-based tool for monitoring, assessment, inspection and maintenance of structural integrity of existing platforms to fulfil operational and regulatory requirements for prolonged production of oil and gas, said S Nallayarasu, professor in the department of ocean engineering. The project also aims to develop the location-based design criteria specific to the platforms operated by ONGC in this region. This will become a starting point for the development of codes and standards, which do not exist as of now, for offshore platforms in India. SIMS software is being developed in line with the Government of India's Make in India policy under the umbrella of ONGC-PAN IIT programme. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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