New York: Crude oil tumbled more than eight percent Wednesday as an OPEC production cut failed to boost the bearish market sentiment over slumping demand.
Light, sweet crude for Januar....
India looks at Russia for assured oil supply New Delhi: India is hoping that the successful outcome of Sakhalin 1 oilfield project will be replicated in other projects in Russia. The Oil and Natural Gas Corp (ONGC) is in discussion with s....
India looks to central Asia for securing fuel supplies New Delhi: India is looking for greater 'synergy in energy' with central Asian countries, Petroleum Minister Murli Deora said on Tuesday. Deora said ONGC Videsh Ltd, the overseas arm of India's....
Oil prices to be slashed after assembly polls: Deora
New Delhi: The government could reduce fuel prices after the assembly elections end next month, Petroleum Minister Murli Deora said on Tuesday. ?We have to reduce oil prices after the assembly ....
OPEC oil price drops to $42.56 Vienna: The price for crude oil produced by the Organisation of the Petroleum Exporting Countries (OPEC) continued falling. As on last Friday it dropped to $42.56 per barrel, the cartel reporte....
OPEC oil price falls below $45 Vienna: The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell to $44.06 on Thursday. It is the lowest price of crude since May 2005. One barrel (....
Govt clears bids for 44 hydrocarbon blocks New Delhi: India today approved a set of 44 hydrocarbon blocks to be awarded to bidders in the latest round of auction, with contracts to share production with state-run oil companies expected ....
GAIL mulls floating subsidiaries New Delhi: The state-run gas utility GAIL Ltd may float operations in several subsidiaries, the company said on Wednesday. ?We need to move aggressively in various sectors. So we are thinking o....
OPEC oil price dips below $50 Vienna: The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell to $49.94 today, reaching yet another record low for 2008. One barrel (159 litres) ....
Petroleum Minister suggests joint projects to Russia New Delhi: Petroleum Minister Murli Deora returned to India on Thursday after a visit to Russia, during which he proposed several joint projects between Indian and Russian oil companies and lob....
Deora on business diplomacy in Russia, meets Putin Moscow: Union Minister of Petroleum and Natural Gas Murli Deora met Russian Prime Minister Vladimir Putin today at Moscow and emphasized that India seeks to enhance growing synergy between Indi....
Rs 455 bn investment expected in gas pipeline sector New Delhi: India expects investments worth Rs 455 billion in the gas pipeline sector in the next four years, said an industry lobby report, released on Tuesday. The report, prepared jointly by ....
Oil prices dip, but no respite in India New Delhi: Petroleum Minister Murli Deora today ruled out an immediate reduction in petrol, diesel and domestic LPG prices saying that the international oil prices haven't fallen so much to war....
Reliance to sell oil in India only if subsidy is extended New Delhi: Reliance Industries, one of the prime producer of petroleum products of the country, revealed today that it can sell petrol and diesel in domestic market if the barriers like 'double....
Indian Oil loses Rs 12 bn following dollar appreciation New Delhi: Indian Oil Corporation today said that it has lost Rs 12 billion since the last revision of the dollar or its appreciation against the rupee. Speaking on the sidelines of an energy c....
