crude oil

A Finnish solution to India’s diesel dilemma


September 20th, 2012 - 7:07 pm ICT by IANS
Helsinki, Sep 20 (IANS) Even as the whole of India is up in arms at the hike in the diesel price, new technology offers hope of a cheaper alternative by ... Read more...

Posted in Environment |

Assam refinery to explore potential markets in neighbouring countries


September 8th, 2012 - 12:11 am ICT by IANS
Guwahati, Sept 7 (IANS) Given its proximity to countries like Bangladesh, Bhutan and Myanmar, Assam's Numaligarh Refinery Limited (NRL) is now planning to explore potential markets for its products in ... Read more...

Posted in Business |

Mexico makes large offshore oil find


August 30th, 2012 - 12:10 pm ICT by IANS
Mexico City, Aug 30 (IANS/EFE) Mexican state-owned oil giant Petroleos Mexicanos, or Pemex, has made a large deep-water light crude discovery in the Gulf of Mexico off the coast of ... Read more...

Posted in Business |

ONGC reports Q1 net profit of Rs.6,078 crore


August 11th, 2012 - 10:29 pm ICT by IANS
New Delhi, August 11 (IANS) Public sector oil and gas producer ONGC Saturday reported a net profit growth of 48.4 percent at Rs.6,078 crore for the quarter ending June 30, ... Read more...

Posted in Business |

UN chief hails Sudan, South Sudan oil deal


August 7th, 2012 - 9:20 am ICT by IANS
United Nations, Aug 7 (IANS) UN Secretary-General Ban Ki-moon has welcomed the deal reached by the governments of Sudan and South Sudan overn oil and financial arrangements, Xinhua reported.The oil ... Read more...

Posted in World |

US targets banks that help Iran


August 1st, 2012 - 3:30 am ICT by IANS
Washington, Aug 1 (IANS) US President Barack Obama Tuesday announced new sanctions against foreign banks that help Iran sell its oil.Obama said the latest round of sanctions is to ... Read more...

Posted in Business |

OPEC expects increase in 2013 world crude oil demand


July 12th, 2012 - 1:22 pm ICT by IANS
Vienna, July 12 (IANS) The world crude oil demand would remain stable in 2013 and reach 89.50 million barrels per day, up by 0.9 percent from 2012, the Organization of ... Read more...

Posted in Business |

EU to enforce Iran oil embargo from July onwards


June 26th, 2012 - 10:57 am ICT by IANS
Brussels, June 26 (IANS) The European Union (EU) has formally approved an embargo on Iranian oil to be enforced from July 1 onwards.The EU Foreign Affairs Council made the decision ... Read more...

Posted in World |

Kolkata Port profits up 29 percent, cargo handling down


June 12th, 2012 - 8:56 pm ICT by IANS
Kolkata, June 12 (IANS) The Kolkata Port Trust (KoPT) Tuesday declared its net profit for the last fiscal at Rs.90 crore -- a jump of 28.57 percent over the Rs.70 ... Read more...

Posted in Business |

Sri Lanka trade deficit grows


June 12th, 2012 - 8:07 pm ICT by IANS
Colombo, June 12 (IANS) Sri Lanka's trade deficit grew by 2.6 percent to $761 million in April from $741.7 million in the same month last year, the central bank said ... Read more...

Posted in Business |

US exempts India from Iran oil sanctions (Lead)


June 12th, 2012 - 9:22 am ICT by IANS
Washington, June 12 (IANS) A day before India-US strategic dialogue here, the US has exempted India and six other nations from its tough Iran oil sanctions for significantly reducing their ... Read more...

Posted in World |

US exempts seven countries from sanctions


June 12th, 2012 - 6:56 am ICT by IANS
Washington, June 12 (IANS) The US will exempt seven economies, including India and Sri Lanka from sanctions, as a result of their significant reduction of oil purchase from Iran, ... Read more...

Posted in World |

Rupee will stabilise in around current range: Anand Sharma


June 5th, 2012 - 5:27 pm ICT by IANS
New Delhi, June 5 (IANS) The Indian rupee, which hit a record low of 56.52 against the dollar last week, is likely to stabilise soon at around the current range, ... Read more...

Posted in Business |

No plan to hike diesel, LPG, kerosene prices: Reddy


May 28th, 2012 - 3:49 pm ICT by IANS
New Delhi, May 28 (IANS) The government has no immediate plan to hike prices of diesel, liquefied petroleum gas (LPG) and kerosene, Petroleum Minister S. Jaipal Reddy said Monday."I ... Read more...

Posted in Business |

Petrol price hike to hit common man: Yechury


May 25th, 2012 - 12:41 am ICT by IANS
Shimla, May 24 (IANS) Communist Party of India-Marxist leader Sitaram Yechury Thursday attacked the central government for a sharp hike in petrol prices, saying it would hit the common man."The ... Read more...

Posted in Politics |

India-UAE joint task force to explore investments (Lead)


May 18th, 2012 - 7:02 pm ICT by IANS
New Delhi, May 18 (IANS) In a bid to boost their $57-billion bilateral trade, India and United Arab Emirates (UAE) Friday decided to set up a high-level joint task force ... Read more...

Posted in Business |

India-UAE joint task force to explore investments


May 18th, 2012 - 4:20 pm ICT by IANS
New Delhi, May 18 (IANS) To boost their $57-billion bilateral trade, India and United Arab Emirates (UAE) Friday decided to set up a high-level joint task force to further explore ... Read more...

Posted in Business |

SC bars US vessel from anchoring at Gujarat port


May 14th, 2012 - 10:54 pm ICT by IANS
New Delhi, May 14 (IANS) The Supreme Court Monday declined permission, for now, to the erstwhile American oil tanker Exxon Valdez, now rechristened Oriental Nicety, to anchor at the Gujarat ... Read more...

Posted in Business |

Hijacked oil tanker has Indians among crew (Lead)


May 12th, 2012 - 5:12 pm ICT by IANS
London, May 12 (IANS) About 15 crew members, including some Indians, are on board a tanker carrying 135,000 tonnes of oil, which has been hijacked by pirates in the Arabian ... Read more...

Posted in World |

India’s share in global trade up: Minister


May 9th, 2012 - 3:39 pm ICT by IANS
New Delhi, May 9 (IANS) Admitting that India's trade deficit has grown, the government Wednesday said the country was still performing better than most countries and its share in global ... Read more...

Posted in Uncategorized |

China’s petrochemical sector growth slows


April 30th, 2012 - 1:51 pm ICT by IANS
Beijing, April 30 (IANS) China's petrochemical industry expanded at much slower pace in the first quarter amid the economic slowdown, according to data released by the National Development and Reform ... Read more...

Posted in Business |

Sri Lanka rejects Indian offer to upgrade refinery


April 29th, 2012 - 4:28 pm ICT by IANS
Colombo, April 29 (IANS) Sri Lanka has rejected an Indian offer to upgrade a refinery that is built to refine only Iranian oil, a minister said Sunday.Petroleum Minister Susil Premjayantha ... Read more...

Posted in Business |

Turkmenistan gas pipeline transit fee finalised: Minister


April 26th, 2012 - 8:35 pm ICT by IANS
New Delhi, April 26 (IANS) India said Thursday it has almost finalised the transit fee with Afghanistan and Pakistan for import of gas from Turkmenistan through a pipeline that will ... Read more...

Posted in World |

Myanmar gas export revenue up


April 26th, 2012 - 12:52 pm ICT by IANS
Yangon, April 26 (IANS) Revenue from Myanmar's natural gas exports rose by $640 million to $3.5 billion in the fiscal year 2011-12.Natural gas from Yetagun and Yadana gas blocks mainly ... Read more...

Posted in South Asia |

US Fed hints at new steps to boost recovery


April 26th, 2012 - 3:40 am ICT by IANS
Washington, April 26 (IANS) US Federal Reserve Chairman Ben Bernanke Wednesday exuded frustration with the slow labor market recovery and hinted that the central bank was poised to take further ... Read more...

Posted in Business |

Mexican government expects economy to grow in 2013


April 12th, 2012 - 11:19 am ICT by IANS
Mexico City, April 12 (IANS/EFE) Mexico's gross domestic product (GDP) is expected to grow 3.8 percent in 2013, with inflation running at 3 percent, the budget deficit at 2 percent ... Read more...

Posted in Business |

Essar Oil completes expansion of Vadinar refinery


March 29th, 2012 - 7:52 pm ICT by IANS
Mumbai, March 29 (IANS) Energy major Essar Oil Thursday said it has completed expansion of its Vadinar oil refinery in Gujarat that would boost turnover by about a third and ... Read more...

Posted in Uncategorized |

US working with India to reduce dependence on Iran oil


March 23rd, 2012 - 11:40 am ICT by IANS
Washington, March 23 (IANS) The United States has said it's "working hard" with India to see if it can help reduce its dependence on Iranian crude and find alternative sources ... Read more...

Posted in Business |

Croatia bans oil import from Iran


March 23rd, 2012 - 9:36 am ICT by IANS
Zagreb, March 23 (IANS) Croatia on Thursday decided to ban oil imports from Iran, and export of crucial equipment and technology to the Iranian petrochemical industry, Xinhua reported.According to a ... Read more...

Posted in Business |

US serves notice on India on Iran oil sanctions


March 22nd, 2012 - 10:34 am ICT by IANS
Washington, March 22 (IANS) The United States has served notice on India and 11 other major importers of Iranian oil that a decision on imposing financial sanctions on ... Read more...

Posted in Business |

Sanctions on India over Iran? US says reports highly speculative (Lead)


March 16th, 2012 - 7:18 pm ICT by IANS
Washington, March 16 (IANS) Describing media reports that America has threatened India with sanctions if it does not reduce its Iranian oil imports by June-end as "highly speculative", US ... Read more...

Posted in World |

US threatens sanctions against India over Iran oil?


March 16th, 2012 - 10:29 am ICT by IANS
Washington, March 16 (IANS) The United States has threatened to impose sanctions on India if it fails to reduce its purchases of Iranian oil, according to a media report citing ... Read more...

Posted in World |

Bugs help make eco-friendly detergents


March 11th, 2012 - 2:46 pm ICT by IANS
Berlin, March 11 (IANS) Environmentally conscious detergent manufacturers are turning from crude oil to plant oils, sugar and bugs to develop green products. Researchers are involving bugs and fungi to ... Read more...

Posted in Environment |

India warns against ‘disastrous’ conflict over Iran


March 7th, 2012 - 1:10 am ICT by IANS
Washington, March 6 (IANS) Asserting that media has presented a distorted picture of its relations with Iran, India has warned against letting the Iran situation escalate into a "disastrous" conflict ... Read more...

Posted in World |

South Korea faces consumer price instability


March 6th, 2012 - 1:55 pm ICT by IANS
Seoul, March 6 (IANS) South Korean economy is facing consumer price instability amid higher oil prices, the finance ministry said Tuesday."Our economy saw employment maintain its recovery trend, and major ... Read more...

Posted in Business |

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