Cash-rich coal, power and oil PSUs will jointly invest about Rs 30,000 crore to revive four mothballed fertiliser plants by 2020-21 to make India self- sufficient in urea production and cut imports.
Workers’s of Sri Lanka’s state-run petroleum firm are set to launch an indefinite strike from tomorrow against the government’s proposed deal with India to jointly operate an oil storage facility at the strategic eastern port town of Trincomalee.
State-run refiners Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd and Hindustan Petroleum Corp. Ltd will invest in Jammu and Kashmir on new LPG bottling plants and retail networks, oil minister Dharmendra Pradhan and chief minister Mehbooba Mufti decided at a meeting in Srinagar on Saturday, an official statement said.
The bank finds the pace of declines in U.S. crude inventories encouraging, with an acceleration in draw downs expected through the second quarter as OPEC
When OPEC and Russia meet next month to assess the impact of their oil cuts they face a surprising outcome: stockpiles are even higher than when they started
China is still one of the most important countries contributing to oil market bullishness, despite its slowing economy.
Oil prices were stable on Wednesday as OPEC said it was committed to draw down a global supply overhang that has dogged markets since 2014, although bloated US output and inventories still weighed on crude
Oil declined below $53 a barrel as the U.S. continued to ramp up drilling, stoking concern that the nation’s surge in output this year will offset OPEC-led efforts to cut a global supply surplus.
The government plans to merge state oil companies to create an integrated oil major that could top $100 billion in market value and compete with global oil biggies.
The previous two times BHP Billiton boss Andrew Mackenzie ran his ruler over the company’s $29 billion oil unit he decided it was still a good fit for the world’s biggest miner