Equatorial Guinea is in talks to sell liquefied natural gas (LNG) supply from its Punta Europa project to independent and state-backed oil companies and traders from 2020 as it winds down an exclusive deal with Royal Dutch Shell.
Sri Lanka on Thursday sharply hiked fuel prices by up to 130 per cent following pressure from the IMF which advised the government to reduce the heavy subsidies.
Indian Oil Corporation (IOC) Chairman Sanjiv Singh today said the decision of oil PSUs not to hike petrol and diesel prices since April 24 was aimed at stabilising them and it ‘incidentally’ coincided with Karnataka elections.
The oil price rose on Thursday, heading for its largest weekly increase in a month, as the market prepared for potential disruption to crude flows from major exporter Iran in the face of U.S. sanctions.
Crude prices have been on a sharp upswing now. Brent is at $77. How do you analyse the factors that are at play and what would be the implications for economies like India?
Indian oil refiners seem to be in a familiar territory again with US reinstating economic sanctions on Iran. Last time the curbs had left Asian refiners grappling with increased working capital borrowings, lower credit period,
India’s current account deficit (CAD) is set to widen due to higher oil prices which could lead to the Reserve Bank of India (RBI) issuing a fresh tranche of NRI bonds to shore up its foreign exchange reserves, Bank of America-Merrill Lynch (BofA-ML) India economist Indranil Sen Gupta said in a note on Thursday.
Rising oil prices are a double-edged sword for the world economy. With the price of crude up about 18 percent this year and now trading at the highest since 2014, exporters of the fuel get to enjoy a windfall while consuming nations get hurt.
A Meeting of the Board of Directors of Indraprastha Gas Ltd is scheduled to be held on May 23, 2018, to consider and approve standalone and consolidated Audited Financial Results for the quarter/year ended March 31, 2018 and also to consider recommendation of dividend for the Financial Year 2017-18.
US President Donald Trump’s decision on Tuesday to pull out of the Iran nuclear deal can increase pressure on government finances through a higher subsidy bill and pinch consumers by keeping oil on the boil ahead of next year’s general election.