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India paid 3rd tranche of $550 million to Iran towards oil bill

India paid 3rd tranche of $550 million to Iran towards oil bill

Last Updated: Thursday, July 24, 2014, 23:08

India today made a third payment of USD 550 million to Iran to take the total amount cleared over past one month to USD 1.65 billion.

Castrol announces launch of engine oil for cars

Castrol announces launch of engine oil for cars

Last Updated: Thursday, July 24, 2014, 22:24

Global engine oil maker Castrol announced the launch of Magnatec Stop-Start engine oil today.

Oil prices up in Asian trade

Oil prices up in Asian trade

Last Updated: Thursday, July 24, 2014, 11:22

The US Energy Information Administration said inventories fell four million barrels in the week ending July 18.

Cairn India June quarter profit plunges 65% to Rs 1,093 cr

Cairn India June quarter profit plunges 65% to Rs 1,093 cr

Last Updated: Wednesday, July 23, 2014, 19:55

Cairn India Wednesday reported a 65 percent drop in its first quarter net profit after booking a one-time depreciation charge on new accounting rules, and said it will invest USD 200 million in developing a gas find in predominantly oil-rich Rajasthan block.

Need for predictable taxes, contract sanctity: Cairn India

Need for predictable taxes, contract sanctity: Cairn India

Last Updated: Wednesday, July 23, 2014, 18:40

As it looks at policy support to boost output from Rajasthan oil block, Cairn India Wednesday called for predictable taxes and fiscal regime together with maintaining contract sanctity to aid production increase.

KG-D6 case: Oil Min says it challenged McHugh decision to return

KG-D6 case: Oil Min says it challenged McHugh decision to return

Last Updated: Wednesday, July 23, 2014, 17:16

Former Australian judge Michael McHugh had to quit as chairman of an arbitral tribunal in the Reliance Industries' KG-D6 cost recovery dispute as Oil Ministry challenged his decision to return after he initially withdrew from the post.

Kerala scientist finds `oil-eating` bacteria

Last Updated: Tuesday, July 22, 2014, 21:35

A scientist from Kerala has discovered three new species of oil-degrading bacteria from industrial waste.

Syria war causes USD 21.4 billion losses to oil industry

Last Updated: Tuesday, July 22, 2014, 21:07

Syria`s oil and gas industries have suffered total losses of USD 21.4 billion since the outbreak of the country`s war three years ago, Oil Minister Suleiman Abbas said Tuesday.

India cuts down dependence on Iran oil

Last Updated: Tuesday, July 22, 2014, 17:47

India has cut its reliance on Iran for meeting its oil needs to less than 6 percent as it raised imports from countries like Columbia and Mexico.

ONGC to speed up development of KG gas finds

Last Updated: Tuesday, July 22, 2014, 16:18

State-owned Oil and Natural Gas Corp (ONGC) will fast-track development of natural gas discoveries in its Krishna Godavari basin block with first gas planned no later than April 1, 2018.

Oil prices up in Asian trade

Last Updated: Tuesday, July 22, 2014, 10:00

US benchmark West Texas Intermediate (WTI) for August delivery was up 54 cents at $105.13 at midday.

BJP MP demands probe into HPCL oil refinery issue

Last Updated: Tuesday, July 22, 2014, 00:17

A BJP MP from Rajasthan has demanded from the state government to investigate the oil refinery project with HPCL in the district which was started by the former Congress government.