US sanctions set to delay Iran gas field project

US sanctions set to delay Iran gas field project

India will delay taking up development of the Farzad B offshore gas field which it had won in Iran as US sanctions will make it difficult for OVL Videsh as well banks involved to invest $ 2.4 billion required to develop the first phase of gas field which is supposed to produce one billion cubic feet a day of gas.

US blames Iran after fresh strike on Gulf tankers

US blames Iran after fresh strike on Gulf tankers

US secretary of state Mike Pompeo said on Thursday that intelligence reviewed by American officials showed that Iran was responsible for fresh attacks on two oil tankers in the Gulf of Oman, a critical waterway for the transit of much of the world’s petroleum.

Crude oil collapses on demand concerns

Crude oil collapses on demand concerns

In the last four weeks, crude oil market collapsed by 12-15 per cent; and last week, Brent briefly traded below the psychological $60 a barrel, a five-month low. This is notwithstanding the current supply tightness following US sanctions on Iran oil and involuntary outage in Venezuela.

Proposal to amend fuel marketing guidelines a little late?

Proposal to amend fuel marketing guidelines a little late?

The latest recommendation by a government-constituted expert committee on revising the guidelines for fuel marketing authorisation, if accepted, may bring in the much-needed competition in India’s fuel retail sector, which is dominated by state-owned fuel retailers.