OPEC and its allies are likely to gradually boost oil output in the second half of the year to ease consumer anxiety as prices trade near $80 a barrel, said Saudi Energy Minister Khalid Al-Falih.
The rise in oil prices to $80 a barrel is starting to cause concern across boardrooms, with some big industrial consumers, including airlines and shipping companies, starting to buy more insurance against rising energy prices.
Fueled by a rapid rollout of coal-fired power generation, India is expected to have Asia’s second-largest power capacity at 363.32 gigawatts in 2018, overtaking Japan, according to data compiled by BMI Research.
India’s largest state-run gas processing and distribution company, GAIL India Ltd., plans to list its subsidiary GAIL Gas Ltd. on the bourses.
The National Company Law Appellate Tribunal today asked the committee of creditors of debt-ridden Bhushan Power and Steel Ltd. to proceed with the bids submitted by Tata Steel Ltd. and U.K.-based Liberty House.
India’s biggest aluminum producer may be forced to reduce output if restrictions on coal supplies to the non-power sector drag on for another week, according to Vedanta Ltd.’s chief executive officer for metals business in the country.
Libya’s crude production tumbled by at least 120,000 barrels a day after some oil-field equipment stopped operating due to hot weather, according to a person with direct knowledge of the matter.
A new management team has been put into place at Bhushan Steel Ltd. after it was acquired by Tata Steel Ltd. through India’s new insolvency and bankruptcy process.
ONGC Videsh Ltd., India’s flagship overseas oil investment firm, has dragged Sudan to an international arbitration court to recover over $400 million in unpaid oil dues pending since 2011.
Steel tycoon Lakshmi N Mittal’s son Aditya Mittal has said he is working “very closely” with his father to shape the future direction of ArcelorMittal and is looking for strategic global opportunities rather than just expansion for the sake of expansion.