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Diesel rates slashed in Delhi

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www.thehindu.com

NewsGram Staff Writer

New Delhi: Indian Oil Corp (IOC) announced that diesel price has been slashed by 50 paisa per litre in Delhi, including state levies, with corresponding price changes in other states, effective from Thursday.

“The current level of international prices and INR-USD exchange rate warrant a price increase, which is being passed on to consumers with this price revision,” state-run IOC said in a statement.

With this, the retail price per litre of diesel from October 1 will be Rs.44.95 in Delhi, Rs.48.71 in Kolkata, Rs.52.08 in Mumbai and Rs.46.08 in Chennai.

On September 1, petrol price was cut by Rs.2 per litre and diesel by Rs.0.50 a litre.

On Wednesday, the Maharashtra government decided to levy a surcharge of Rs. 2 on petrol and diesel, effective from October 1.

(With inputs from IANS)

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15 Public Sector Firms in India violate Sebi’s Norms of appointing atleast One Woman Director on their Respective Boards

These rules are aimed at ensuring gender diversity in boardrooms

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Fifteen PSUs including ONGC and Indian Oil Corporation failed to comply by Sebi's gender diversity directives, Wikimedia

New Delhi, Dec 16, 2016:  Sebi’s regulatory norms of appointing at least one woman director on the respective billboards till December 13, has not been followed by as many as 15 public sector firms including ONGC and Indian Oil Corporation. Reports of it went to the Parliament on Friday.

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As per the new Sebi directives and the Company’s Act, 2013 all the listed firms were required to have at least one woman director on their boards from April 1, 2015. These rules are aimed at ensuring gender diversity in boardrooms.

As on December 13, 2016, Bharat Petroleum Corporation, GAIL, Power Finance Corporation, Rural Electrification Corporation, Chennai Petroleum Corporation, Scooters India, MMTC and Fertilisers & Chemicals Travancore have not appointed women directors on their board, Corporate Affairs Minister Arun Jaitley said in a written reply to Lok Sabha, mentioned PTI.

It was mandatory for PSUs to appoint one women director to their boards
Arun Jaitley Wikimedia

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Other non-complaint firms are State Trading Corporation of India, Hindustan Photo Films Manufacturing Company, Bharat Immunologicals & Biologicals Corp, Rashtriya Chemicals and Fertilisers and Neyveli Lignite Corporation, he added.

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According to the Minister 169 and 1,106 companies listed on the NSE and BSE respectively had not appointed women directors as on September 30, this year. To avert this discrimination by acting against listed firms without a mandatory woman director, Sebi in April 2015 had announced a minimum Rs 50,000 fine. Further action against non-compliance of the directives include action against promoters and directors, if they remain non-compliant beyond six months.

A four stage penalty structure is announced by the market watchdog wherein fines would increase with the passage of time. It had asked the stock exchanges to levy the fines as the violation relates the Listing Agreement.

prepared by Saptaparni Goon of NewsGram. Twitter: @saptaparni_goon

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Production of cleaner diesel by a new method

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London: A team of researchers from two European universities have discovered a new approach to the production of much cleaner diesel.

Researchers from the Belgium’s University of KU Leuven and Netherland’s Utrecht University used catalysts to produce clean diesel, which can quickly be scaled up for industrial use, according to a KU Leuven statement.

Catalysts are substances that trigger the chemical reactions that convert raw material into fuel. In the case of diesel, small catalyst granules are added to the raw material to sufficiently change the molecules of the raw material to produce useable fuel.

The catalyst used for this particular study has two functions, represented by two different material — a metal (platinum) and a solid-state acid.

During the production process for diesel, the molecules bounce to and fro between the metal and the acid. Each time a molecule comes into contact with one of the materials, it changes a little bit. At the end of the process, the molecules are ready to be used for diesel fuel.

The assumption has always been that the metal and the solid-state acid in the catalyst should be as close together as possible to speed up the production process by helping the molecules bounce to and fro more quickly.

However, Johan Martens of KU Leuven and Krijn de Jong of Utrecht University have now discovered that this assumption is incorrect.

“Our results are the exact opposite of what we had expected. At first, we thought that the samples were switched or that something was wrong with our analysis”, said professor Martens.

“We repeated the experiments three times, only to arrive at the same conclusion — the current theory is wrong. There has to be a minimum distance between the functions within a catalyst. This goes against what the industry has been doing for the past 50 years.”

Cars that are driven by this clean diesel would emit far fewer particulates and carbon dioxide. The researchers believe that their method can be scaled up for industrial use with relative ease, so the new diesel could be used in cars in 5-10 years.

The new technique can be applied to petroleum-based fuels but also to renewable carbon from biomass.

(IANS)

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Petrol and diesel prices hiked from Monday

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New Delhi: With Indian Oil Corporation hiking the price of petrol and diesel by 36 paise/litre and 87 paise/litre (including State levies), respectively, from midnight of November 15/16, petrol in the capital will now cost Rs 61.06/litre and diesel will come at Rs 46.80/litre.

Indian Oil said at a Press release that  current international prices of petrol and diesel and the rupee-dollar exchange rate has compelled the hike in prices.

The public sector oil marketing company said it would continue to closely monitor the movement of prices in the international oil market as well as the rupee-dollar exchange rate.

The developing trends would be reflected in future price changes, it added.

(Picture courtesy: www.ibtimes.co.in)