oil

Meet nine of nature's most effective antibiotics

Meet nine of nature's most effective antibiotics

Saudi Arabia unveils first targets in sweeping reform plan

Saudi Arabia unveils first targets in sweeping reform plan

In a press conference in the early hours of Tuesday in Jeddah, officials revealed sweeping plans to create some 450,000 non-government jobs by 2020, boost non-oil revenues and cut the cost of public wages.

India keen on joint development of oil, gas blocks in Qatar

India keen on joint development of oil, gas blocks in Qatar

India Sunday evinced interest in joint exploration of new oil and gas fields as well development of discovered assets in resource-rich Qatar as the two countries decided to focus on enhancing cooperation in the energy sector.

Oil prices dip as Iran says no plan to freeze output

Oil prices dip as Iran says no plan to freeze output

Despite a recent rebound, world crude prices are still at less than half of their levels of June 2014 because of a supply glut, partly fed by Iran's return to world markets in January after the lifting of nuclear-linked Western sanctions.

Oil falls as Fed rate hike speculation sends dollar surging

Oil falls as Fed rate hike speculation sends dollar surging

Oil prices retreated from 2016 highs and snapped a two-day rally on Wednesday, hurt by a surge in the dollar after the US Federal Reserve signalled it could raise interest rates next month.

Latest prices of diesel in major Indian cities

Latest prices of diesel in major Indian cities

Latest prices of diesel in major Indian cities

Latest prices of petrol in major Indian cities

Latest prices of petrol in major Indian cities

Prices of petrol in major Indian cities

Petrol price hiked by Rs 0.83 per litre, diesel by Rs 1.26 a litre

Petrol price hiked by Rs 0.83 per litre, diesel by Rs 1.26 a litre

Oil marketing companies on Monday increased the price of petrol and diesel price by Rs. 0.83/litre & Rs. 1.26/litre respectively with effect from Monday midnight.

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Oil rises, heads for third week of gains

Oil prices rose on Friday and were poised for a third week of gains as market sentiment turned more upbeat amid signs a persisting global supply glut may be easing

How Saudi Arabia plans to shake up its economy!

How Saudi Arabia plans to shake up its economy!

The National Transformation Plan (NTP), as Riyadh has dubbed the changes, is expected to be unveiled in the next few weeks. Much is still secret. Ministries have refused to discuss plans in detail and Western consultancies contacted by Reuters declined to confirm their involvement, let alone policy details.

OPEC cuts 2016 oil demand growth forecast, warns of more

OPEC cuts 2016 oil demand growth forecast, warns of more

OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year.

Oil hits 2016 high above $43 on producer meeting hopes

Oil hits 2016 high above $43 on producer meeting hopes

Oil rose above $43 a barrel to its highest level so far in 2016 on Tuesday, supported by hopes that a meeting of oil producers will agree steps to tackle a supply glut, and by a weak U.S. dollar and further signs of strong demand in China.

India links $20 billion investment in Tehran to favourable terms

India links $20 billion investment in Tehran to favourable terms

Stepping up its energy ties with Iran, India has lined up USD 20 billion as investment in oil and gas as well as petrochemical and fertiliser projects in the Persian Gulf country subject to provision of concessional rights

Oil PSUs get a free hand, can choose companies for crude buy

Oil PSUs get a free hand, can choose companies for crude buy

In a bid to improve operational efficiency, the government Wednesday gave freedom to public sector oil firms to have their own independent crude import policy based on their commercial requirements.

India's Iran oil imports set to surge to 7-year high in 2016/17: Sources

India's Iran oil imports set to surge to 7-year high in 2016/17: Sources

India is set to import at least 400,000 barrels per day (bpd) of Iranian oil in the year from April 1, with refiners looking to ramp up purchases after the sanctions targeting Tehran ended in January, industry sources familiar with the matter said.

Shell dragged into Nigeria oil corruption probe

Shell dragged into Nigeria oil corruption probe

Oil giant Shell has been dragged into a corruption probe linked to a major offshore deal in Nigeria, the company confirmed Tuesday.

Hit by cheap oil, Saudis restrict job opportunities for foreign workers

Hit by cheap oil, Saudis restrict job opportunities for foreign workers

In early March, the Ministry of Labour announced that within six months foreigners would be banned from selling and maintaining mobile phones and accessories for them, in an effort to keep open more jobs for Saudi citizens.

Indian oil imports to drop 10% over next six years: Pradhan

Indian oil imports to drop 10% over next six years: Pradhan

India will cut oil imports by 10 percent in next six years by raising domestic output, conserving fuel and shifting to alternate sources like natural gas, Oil Minister Dharmendra Pradhan said Tuesday.

Oil Minister Dharmendra Pradhan to visit Iran on April 6-7

Oil Minister Dharmendra Pradhan to visit Iran on April 6-7

Accompanied by ONGC Videsh Ltd Managing Director Narendra K Verma and Indian Oil Corp (IOC) Chairman B Ashok, Pradhan's visit is aimed at engaging with leadership of the oil and gas rich nation that has just come out of international sanctions.