• The demonstration in the stock of Tata Steel not only signals the end of weak fundamentals for the company but it is also possibly a indication for the  better days that awaits the steel sector.
  • Increasing sales volumes by steel makers, decline in near- term concerns on slowdown and diminishing risks of cheap imports from China have reflected positively on Indian steelmakers
  • Essar Steel has posted EBITDA of around Rs 2,000 crore during the insolvency period and the amount could be utilised by financial creditors against their outstanding dues
  • After an outstanding coal output of 600 million tonne in 2018-19, Coal India is investing on space technology and mobile apps to control pilferage and illegal mining.
  • The company has introduced the Coal Mining Surveillance & Management System (CMSMS) portal. This system was developed by the coal ministry in coordination with Bhaskaracharya Institute for Space Application and Geo-informatics and the Ministry of Electronics & Information Technology
  • The system can scan a region of 100 meters around the existing coalfield boundary to identify any unusual activity.
  • The CMSMS is also designed to provide other important information like reclamation work which is being monitored by CMPDI , a subsidiary of Coal India, using satellite data. The status of environmental and forest clearances are also linked for information in this system.
  • The country’s crude oil production decreased by 4% in the financial year 2018-19 due to aging fields of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) missed the target.
  • India produced 34.2 million tonne of crude oil in the fiscal year ended March 31, down from 35.7 million tonne in the previous year.
  • ONGC output reduced to 21 million tonne from 22.25 million tonne in 2017-18, while OIL saw a decline of 2.5% to 3.3 million tonne.
  • Coal import by state government-run power producers in Gujarat, Andhra Pradesh and Tamil Nadu in 2018-18 was 1.4 times higher than in previous year, which was in part due to quality and logistics related issues in Coal India’s import substitution scheme.
  • NTPC’s import increased to 960,000 tonnes in 2018-19.
  • Gujarat State Electricity Corporation Ltd, Andhra Pradesh Power Development Company Ltd, Tamil Nadu Generation & Distribution Corporation and West Bengal. Power Development Corporation imported a total of 6.9 million tonnes of coal in 2018-19 against 2.9 million tonnes in 20171-18.
  • Coal India has promised fuel to power producers under a scheme to meet the shortfall in annual contracted quantity, provided they give an undertaking that coal import has stopped or will not continue
  • Coal India stocks would be used for power producers opting for the scheme whereas regular production would be used for committed supplies to customers.
  • However, if the demand from power sector increases substantially, Coal India may not be able to meet every customers’ requirement under this scheme.
  • India’s 12 major ports have reported 10.81% increase in the Coal shipments during 2018-19, on account of Increased demand from various sectors including coal, containers, fertilisers and POL (petroleum, oil and lubricant) etc.
  • These ports handled coal cargo shipment of 161.34 million tonne in 2018-19 against 59 million tonne in 2017-18.
  • The 12 major ports are Deendayal (erstwhile Kandla), Mumbai, JNPT, Mormugao, New Mangalore, Cochin, Chennai, Kamarajar (earlier Ennore), Chidambaranar, Visakhapatnam, Paradip and Kolkata (including Haldia)..