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Gulf oil producers stand firm on OPEC output

Oil-rich Arab Gulf countries stood firm against non-OPEC crude producers on Sunday, vowing they will not cut output nor hold an emergency cartel meeting to support slumping prices.

Gulf Oil Dec qtr net up 15%; plans to demerge lubricants biz

Hinduja Group firm Gulf Oil Corp Friday reported a 15 percent rise in December quarter net profit and said it plans to demerge its lubricants business into a separate listed company.

US to get $1.4 bn over Gulf of Mexico disaster

Swiss-based Transocean, which owned a rig that blew up in the Gulf of Mexico in April 2010, has agreed to pay the USD 1.4 billion over the environmental disaster, RIA Novosti reported Friday.

Hinduja Group's Gulf Oil acquires Houghton International for over $1 bn

Hinduja Group firm Gulf Oil on Friday said it has completed its acquisition of US-based Houghton International for USD 1.045 billion (about over Rs 5,747 crore) after conclusion of necessary regulatory approvals.

Indian investors can benefit from Gulf oil industry

Indian investors can benefit from the Gulf Cooperation Council (GCC) oil industry, businessmen participating at a seminar in Bahrain have said.

Credo India buys 52 lakh shares of Gulf Oil Corp for Rs 43cr

Credo India Thematic Fund Friday acquired 52.20 lakh shares of Gulf Oil Corporation from two entities in a deal worth Rs 43.59 crore.

Gulf countries to award over $50 bn in oil & gas contracts

The Gulf Cooperation Council (GCC) countries will award a little over USD 50 billion worth of contracts in the market in 2013, almost double the USD 27 billion expected to be awarded this year, a report has said.

Brent crude plummets to 16-month low; hit by US job data crisis

Brent crude oil price tanked for four days in a row, sliding under the $100 mark a barrel to a 16-month low.