Recovering from its “economic implosion” will take Venezuela “a decade or decades,” a top International Monetary Fund official told AFP on Friday.
Oil prices edged up on Friday, lifted by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela. Despite strong price increases this year, there are concerns that an economic slowdown could soon dent fuel consumption.
ZYFRA Group, Finnish-Russian AI and IIoT solutions developer for industries has successfully tested the ESP software unit, designed to enhance the efficiency of oil extraction by boosting oil well production rates by 1.5% with no additional capital investment.
Crude oil prices plunged 0.87 per cent to Rs 4,435 per barrel on Thursday as speculators reduced bets amid a weakening trend overseas. On the Multi Commodity Exchange, crude for delivery in April fell by Rs 39, or 0.87 per cent, to trade at Rs 4,435 per barrel in a business turnover of 23,652 lots.
Oil prices fell on Thursday after US crude stockpiles surged to their highest levels in almost 17 months amid record production. International benchmark Brent futures were at $71.57 per barrel at 0056 GMT, down 16 cents, or 0.2 per cent, from their last close.
Five major stressed power producers are preparing to oppose insolvency proceedings on the grounds that lenders filed petitions against them as per a central bank circular on debt resolution that was recently quashed by the apex court, people familiar with the plans said.
RailWire Wi-Fi by RailTel is now live at 1600 railway stations across the country, with Santacruz railway station in Mumbai becoming the 1600th station to become a RailWire Wi-Fi zone, the Western Railway said Wednesday.
Oil prices rose to their highest since November on Monday, driven by OPEC supply cuts, U.S. sanctions against Iran and Venezuela and fighting in Libya as well as strong U.S. jobs data.
Everyone knows an electric fan can make people feel cooler on a steamy day. But could fans moderate the planet’s rising temperatures? Some of the world’s biggest fossil fuel companies would like to find out.
Infrastructure finance company PFS has joined hands with the US-India Clean Energy Finance (USICEF) to leverage funds for solar projects in India.