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Oil extends losses on return of Libyan supplies

Last Updated: Thursday, July 03, 2014, 09:43

Oil extended losses in Asia Thursday on prospects that Libya will begin exporting more crude into a global market flush with supplies, while easing concerns about the Iraqi crisis also weighed on prices.

ExxonMobil pumps $1bn to Europe

Last Updated: Wednesday, July 02, 2014, 15:04

The US energy giant said it intends to instal a new unit at the site which will convert heavy crude into diesel and marine fuel.

Oil prices dip on profit taking, Iraq

Last Updated: Wednesday, July 02, 2014, 02:55

World oil prices slipped Tuesday on profit taking and marginally easing concerns about the Iraq crisis, while in the US a storm sparked fears about lower gasoline demand.

Chinese oil pipeline catches fire, thousands evacuated

Last Updated: Tuesday, July 01, 2014, 22:51

A leaking oil pipeline caught fire in the northeastern Chinese port city of Dalian, forcing the evacuation of nearly 20,000 residents, a government oil company said on Tuesday.

Losses on diesel more than double to Rs 3.40 a litre

Last Updated: Tuesday, July 01, 2014, 20:05

With escalating violence in Iraq spooking international oil markets, losses on the sale of diesel have more than doubled to Rs 3.40 a litre even after monthly price increases.

Moody's expects govt to reduce fuel subsidy bill

Last Updated: Tuesday, July 01, 2014, 19:44

Rating agency Moody's expects the government to reduce its fuel subsidy bill through a gradual process that in turn will lead to higher product prices and prove credit positive for oil marketing companies.

LPG price hiked by Rs 16.50 per cylinder; ATF by 0.6%

Last Updated: Tuesday, July 01, 2014, 13:02

Price of non-subsidised cooking gas (LPG) was Tuesday hiked by Rs 16.50 per cylinder and that of jet fuel by over half-a-per cent after international oil prices surged due to the ongoing Iraq crisis.

Gulf countries' large dependence on oil&gas a credit risk: S&P

Last Updated: Tuesday, July 01, 2014, 13:01

The UAE economy appears the most diversified in the GCC, with oil and gas contributing only 31 percent of its total exports.

Oil prices rise on weak dollar

Last Updated: Tuesday, July 01, 2014, 09:34

Oil prices rose in Asia Tuesday as dealers made the most of a weakening dollar while keeping an eye on continuing fighting in Iraq, analysts said.

Petrol price hiked by Rs 1.69/litre, diesel by 50 paise

Last Updated: Monday, June 30, 2014, 20:02

Petrol price was on Monday hiked by a steep Rs 1.69 per litre and diesel by 50 paise a litre as the crisis in Iraq spooked international oil and currency markets.

Petrol price hiked by Rs 1.69/L, diesel by 50p; effective July 1

Last Updated: Monday, June 30, 2014, 19:17

Oil companies on Monday hiked price of petrol by Rs 1.69 per litre while the price of diesel was also hiked by 0.50 paise per litre to be effective from July 1.

Bonds see biggest monthly fall in seven but gain on quarter

Last Updated: Monday, June 30, 2014, 18:22

Government bond yields ended little-changed on Monday, ending their worst month in seven as the violence in Iraq has threatened to push up global crude oil prices and lead to a spike in domestic inflation.