global oil prices

India cuts prices of transport, cooking fuels (Roundup)


January 29th, 2009 - 1:47 am ICT by IANS
New Delhi, Jan 28 (IANS) India late Wednesday allowed its state-run petroleum retail companies to cut the prices of gasoline, diesel and cooking gas. Petrol will now be cheaper by Rs.5 a ... Read more...

Posted in Uncategorized |

OPEC likely to cut down on production


January 17th, 2009 - 12:01 am ICT by IANS
Luanda (Angola), Jan 16 (Xinhua) The Organisation of the Petroleum Exporting Countries (OPEC) Friday said that it may consider more production cuts to stabilise the global oil prices."OPEC will not hesitate to ... Read more...

Posted in Business |

Oman welcomes Indian investment, joint ventures


January 12th, 2009 - 4:07 pm ICT by IANS
New Delhi, Jan 12 (IANS) With the easing global oil prices, Gulf countries like Oman look forward to investment from India and joint ventures with Indian firms. “We welcome investment from Indian ... Read more...

Posted in World |

World energy leader Toronto market gains on oil prices


December 30th, 2008 - 10:12 am ICT by IANS
Toronto, Dec 30 (IANS) As the Israeli strikes on Hamas pushed oil prices slightly higher Monday, the Toronto Stock Exchange (TSX) - which is the world's largest energy market - gained more ... Read more...

Posted in Business |

Truckers threaten indefinite strike from Jan 5


December 24th, 2008 - 9:15 pm ICT by IANS
New Delhi, Dec 24 (IANS) Truckers have threatened to go on a country wide indefinite strike from Jan 5 if diesel price was not slashed by Rs.8 a litre.Vinish Khanna, joint secretary ... Read more...

Posted in Business |

‘Subsidy burden too heavy for upstream oil firms’ (Lead)


December 22nd, 2008 - 4:06 pm ICT by IANS
New Delhi, Dec 22 (IANS) Upstream oil companies have told the government they are unable to pay their share of the subsidy burden due to falling oil prices, Petroleum Secretary R.S. Pandey ... Read more...

Posted in Uncategorized |

Low oil prices putting ONGC margins under pressure


December 22nd, 2008 - 3:13 pm ICT by IANS
New Delhi, Dec 22 (IANS) India's largest oil explorer, Oil and Natural Gas Corp (ONGC), is finding it difficult to make ends meet because of the low ruling global oil prices, the ... Read more...

Posted in Uncategorized |

Government will examine further oil price cut: Pranab Mukherjee


December 19th, 2008 - 5:52 pm ICT by IANS
New Delhi, Dec 19 (IANS) The government will look into the oil price issue following the steep fall in global oil prices, Minister for External Affairs Pranab Mukherjee told parliament Friday."We will ... Read more...

Posted in Business |

Azerbaijan may cut oil production


December 17th, 2008 - 6:33 pm ICT by IANS
Oran (Algeria), Dec 17 (RIA Novosti) Azerbaijan is ready to slash oil output by 300,000 barrels per day (bpd) if the Organization of the Petroleum Exporting Countries (Opec) announces production cuts on ... Read more...

Posted in World |

Iran proposes OPEC to consider another oil cut


November 15th, 2008 - 10:37 pm ICT by IANS
Tehran, Nov 15 (Xinhua) Iran Saturday proposed the Organisation of the Petroleum Exporting Countries (OPEC) to again consider an output cut of one to 1.5 million barrels per day (bpd) to help ... Read more...

Posted in Business |

India likely to get more cooking gas from Qatar


November 10th, 2008 - 4:50 pm ICT by IANS
Doha, Nov 10 (IANS) Qatar is likely to increase cooking gas supplies to India following a meeting between Prime Minister Manmohan Singh and his Qatari counterpart Sheikh Hamad Bin Jasim Bin Jabir ... Read more...

Posted in Business |

Iraq downsizes budget as oil revenue falls


November 2nd, 2008 - 12:54 pm ICT by IANS
Baghdad, Nov 2 (Xinhua) Iraq slashed its 2009 budget to $67 billion from the proposed $80 billion as a result of falling global oil prices."We have a budget of $80 billion as ... Read more...

Posted in Uncategorized |

Bangladesh to cut fuel prices from Sunday midnight


October 26th, 2008 - 9:44 pm ICT by IANS
Dhaka, Oct 26 (Xinhua) Bangladesh will cut fuel prices by at least 12 percent, effective from Sunday midnight, in the wake of the fall in global oil prices.As per the new rates, ... Read more...

Posted in South Asia |

Jet Airways’s chairman meets finance minister


October 20th, 2008 - 6:24 pm ICT by IANS
New Delhi, Oct 20 (IANS) Jet Airways chairman Naresh Goyal Monday met Finance Minister P. Chidambaram and discussed fuel dues owed by the airline to oil companies, a senior finance ministry official ... Read more...

Posted in Business |

India seeks a stop to diversion of food to fuel


October 13th, 2008 - 10:39 am ICT by IANS
Washington, Oct 13 (IANS) India has demanded an immediate stop to diversion of food crops, particularly corn in the United States, for producing biofuels to check a rise in food prices in ... Read more...

Posted in Uncategorized |

Nigerian oil militants release 19 hostages


October 6th, 2008 - 7:20 am ICT by IANS
Nairobi/Abuja, Oct 6 (DPA) Nigerian oil militants Sunday said they had released 19 Nigerian oil workers kidnapped two weeks ago but said they would hold on to a Briton and two Ukrainians ... Read more...

Posted in World |

Bloodiest day for Toronto exchange in 8 years


September 30th, 2008 - 10:03 am ICT by IANS
Toronto, Sep 30 (IANS) In its biggest single-day loss in eight years, the Toronto Stock Exchange (TSX) sank more than 840 points after the US House of Representatives rejected the $700-billion bailout ... Read more...

Posted in World |

Gulf grapples with obstacles to common currency


September 21st, 2008 - 4:34 pm ICT by IANS
Dubai, Sep 21 (IANS) Will the Gulf nations be able to have a single currency by the deadline of Jan 1, 2010? Sceptics say time is too short for achieving such a ... Read more...

Posted in Sports |

Declining oil prices will not lower inflation: Report


August 26th, 2008 - 4:40 pm ICT by IANS
New Delhi, Aug 26 (IANS) The recent decline in global oil prices will not lower India's rate of inflation, which will remain "stubbornly strong" in the coming days despite monetary tightening by ... Read more...

Posted in Uncategorized |

Equity markets make huge gains in early trade


August 6th, 2008 - 1:03 pm ICT by IANS
Mumbai, Aug 6 (IANS) Indian equity markets opened with an upswing Wednesday on news that global oil prices had fallen and the US Federal Reserve had kept interest rates steady. Then the ... Read more...

Posted in Business |

Aramex announces Q2 revenues of $146.8 million


August 4th, 2008 - 11:13 am ICT by IANS
Dubai, Aug 4 (IANS) Global logistics provider Aramex has announced that its revenues grew from 437.5 million dirhams ($119.1 million) to 539.3 million dirhams ($146.8 million) in the second quarter of 2008, ... Read more...

Posted in Business |

Oil ministry wants Reserve Bank to buy oil bonds


August 1st, 2008 - 10:26 pm ICT by IANS
New Delhi, Aug 1 (IANS) The petroleum ministry wants the Reserve Bank of India (RBI) to resume buying oil bonds for oil marketing companies to ease their acute cash crunch, a senior ... Read more...

Posted in Business |

Air India hikes fares by 10 percent, others to follow (Lead)


July 31st, 2008 - 11:59 pm ICT by IANS
New Delhi, July 31 (IANS) Soon after state-run oil companies Thursday hiked aviation turbine fuel (ATF) prices by 2.8 percent, Air India increased air fares by at least 10 percent effective from ... Read more...

Posted in Business |

Aviation fuel price goes up again, but no fare hike now


July 31st, 2008 - 10:38 pm ICT by IANS
New Delhi, July 31 (IANS) State-run oil companies Thursday hiked aviation turbine fuel (ATF) prices by 2.8 percent, but airline operators said they will wait and watch the market situation before taking ... Read more...

Posted in Business |

Gas turbine technology best for power generation in Gulf: expert


July 31st, 2008 - 11:25 am ICT by IANS
Dubai, July 31 (IANS) Gas turbine technology is the best fossil fuel-based technology available for power generation in the Gulf, given the skyrocketing oil prices, according to a leading energy expert. "Gas ... Read more...

Posted in World |

Emirates to freeze hiring of non-operational staff


July 30th, 2008 - 4:56 pm ICT by IANS
Dubai, July 30 (IANS) The United Arab Emirates' (UAE) national carrier Emirates Airline will freeze recruitment of non-operational staff because of spiralling global oil prices, a top official at the carrier has ... Read more...

Posted in World |

MRPL net up 129 percent


July 25th, 2008 - 4:37 pm ICT by IANS
New Delhi, July 25 (IANS) Mangalore Refinery and Petrochemicals Ltd (MRPL) announced Friday a 129 percent jump in the company's net profit in the first quarter of this financial year, a company ... Read more...

Posted in Business |

Another round of media campaign to back n-deal soon: Deora


July 15th, 2008 - 8:59 pm ICT by IANS
New Delhi, July 15 (IANS) After full-page advertisements in newspapers advocating the India-US nuclear deal, the petroleum ministry will unleash another round of media campaign, probably this week, ahead of the July ... Read more...

Posted in Business |

New support for UPA may spur asset sales: WSJ


July 12th, 2008 - 9:55 pm ICT by IANS
New York, July 12 (IANS) Now that the United Progressive Alliance (UPA) government has found support from the Samajwadi Party, replacing Left parties opposed to the India-US nuclear deal, it could renew ... Read more...

Posted in World |

Kuwait records highest earnings in 2008 first quarter


July 11th, 2008 - 7:43 pm ICT by IANS
Dubai, July 11 (IANS) Riding on record global oil prices, Kuwait recorded it highest revenue earnings in the first quarter of 2008. According to statistics released by the Central Bank of Kuwait ... Read more...

Posted in World |

International financial institutions have failed us, says Indian PM


July 7th, 2008 - 10:54 pm ICT by IANS
On Board Air India One, July 7 (IANS) Indian Prime Minister Manmohan Singh Monday decried the role of international financial institutions in controlling global oil prices and said they have "not performed ... Read more...

Posted in Business |

Cairn India signs oil exploration pact with Sri Lanka


July 7th, 2008 - 7:13 pm ICT by IANS
Colombo, July 7 (IANS) Cairn India Ltd Monday entered into an agreement with the Sri Lankan government to explore the oil and gas deposits in the north-western Mannar gulf of the island, ... Read more...

Posted in South Asia |

PM to favour ‘joint action’ on oil price at G-8 meet (Lead)


July 6th, 2008 - 9:56 pm ICT by IANS
New Delhi, July 6 (IANS) With India reeling under soaring inflation, Prime Minister Manmohan Singh Sunday said he will press for "joint action" to tackle the problem of rising global oil prices ... Read more...

Posted in Uncategorized |

Indian shares provisionally end 4.45 percent lower


July 4th, 2008 - 12:09 am ICT by ANI
Mumbai, July 3 (ANI): Indian shares slid on Thursday after global oil prices climbed to a record above 144 dollars a barrel, spooking markets across the region, and rattled by U.S. ... Read more...

Posted in Business |

Sensex rises above 700 points


July 2nd, 2008 - 11:21 pm ICT by ANI
Mumbai, July 2 (ANI): The Bombay Stock Exchange's Sensex rose above 700 points to 13,664.62 level bringing a respite to the investors who had been shying away from investing due to ... Read more...

Posted in National |

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