Oil settled lower on Thursday, weighed down by weakness in U.S. equities markets and an expectation that crude output would rise in the Gulf of Mexico following last week’s hurricane in the region.
Ather Energy, a Bangalore- based manufacturer of smart electric scooters told CNBC-TV18 that it is looking to start localising the production of the electric motor which powers their scooters, achieving a 75-77 percent localised product by the first half of next year.
Petrol prices fell about 8-12 paise, while diesel remained unchanged for the seventh straight session across the major cities — Mumbai, New Delhi, Kolkata and Chennai — on Thursday. Petrol stood at Rs 78.96 a litre, while diesel was at Rs 69.43 per litre in Mumbai.
At the recently concluded annual convention of the Global Compact Network India, the local arm of the UN Global Compact, what stayed with me was the immense opportunity that we have as a country.
Oil prices fell for a second day on Tuesday as more production facilities returned to operation in the U.S. Gulf after Hurricane Barry swept through over the weekend, while Chinese economic data dimmed the outlook for crude demand.
Oil futures edged up on Friday as US Gulf of Mexico crude output was halved by disruptions caused by a tropical storm, but concerns over a global surplus in the months ahead limited gains.
The power ministry is looking to include a distribution franchise model under the new tariff policy, sources told CNBC-TV18 on Friday. With financial losses amounting to about Rs 23,000 crore on state distribution companies as per ICRA report
Oil prices rose on Friday as U.S. oil producers in the Gulf of Mexico cut more than half their output in the face of a tropical storm and as tensions continued in the Middle East.
US oil futures hit their highest in over a month on Thursday as a potential hurricane threatened crude output in the Gulf of Mexico and as an incident involving a British tanker in the Middle East highlighted ongoing tensions there.
Oil prices gained more than 1% in early trade on Wednesday, led by U.S. crude after an industry group reported that U.S. stockpiles fell for a fourth week in a row, alleviating concerns about oversupply