Q3 Power generation up 93 per cent at Essar Energy

Third-quarter power generation almost doubled for the period ending December 31st at India-focused integrated energy company Essar Energy.

Third-quarter power generation almost doubled for the period ending December 31st at India-focused integrated energy company Essar Energy.

Power generation rose 93% to 2,862m units compared to 1,481m units in the same quarter a year earlier.

The high increase was related to the commissioning of Salaya 1 - the Essar Energy's imported coal plant- in the first quarter of the fiscal year 2013 and production levels at the group's oil and gas units in the second and third quarters.

Oil and gas production also experienced significant increases over the corresponding time frames.

The current price gross refinig margins (CPGRM) of oil and gas produced at the Vadinary plant stood at $9.75 per barrel, 246% more than the $2.82 in the same quarter a year earlier.

Throughput during the quarter was 36.32m barrels, up 77% against 20.5m barrels in the same quarter a year earlier.

Oil and gas production was down 9.0% at the Stanlow plant during the quarter. Some 18m barrels were produced compared to 19.7m barrels in the same quarter a year earlier. The group stated that the reduction in production reflected a planned shutdown.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
James Ferguson: How bad data is driving fear of a second wave of Covid-19
UK Economy

James Ferguson: How bad data is driving fear of a second wave of Covid-19

Merryn and John talk to MoneyWeek regular James Ferguson about the rise in infections in coronavirus and what the data is really telling us.
17 Sep 2020