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Armed clashes set Libya``s Tripoli ablaze

Last Updated: Tuesday, July 29, 2014, 07:39

A huge fire at an oil depot in Libya`s capital Tripoli set part of the city ablaze Monday after being hit by warring militia`s rocket attacks.

Indian sailor missing off Australian coast

Last Updated: Tuesday, July 29, 2014, 01:39

A 41-year-old Indian sailor fell off from a Liberian crude oil tanker off Western Australia`s northern coast and authorities today said chances of his survival are bleak.

Huge oil depot blaze puts Tripoli under threat

Last Updated: Monday, July 28, 2014, 22:35

Firefighters on Monday failed to extinguish a blaze at an oil depot on the outskirts of Tripoli, sparking fears of a huge fireball that could cause carnage over a wide area.

Hague court orders Russia to pay $50 bln in Yukos case

Hague court orders Russia to pay $50 bln in Yukos case

Last Updated: Monday, July 28, 2014, 19:29

The Hague`s arbitration court ruled on Monday that Russia must pay a group of shareholders in defunct oil giant Yukos around USD50 billion for expropriating its assets, a big hit for a country teetering on the brink of recession.

Oil prices drift lower in Asia

Oil prices drift lower in Asia

Last Updated: Monday, July 28, 2014, 13:04

Investors are also looking to a US Federal Reserve policy meeting this week for a snapshot on the state of the world`s number one economy.

Cairn seeks ONGC nod to extend Rajasthan block permit beyond 2020

Cairn seeks ONGC nod to extend Rajasthan block permit beyond 2020

Last Updated: Sunday, July 27, 2014, 16:26

Sources said as a licensee, ONGC has concerns on royalty which it would be like to be addressed at the time of extension.

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

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

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

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

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

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.