Last Updated: Wednesday, September 2, 2015, 20:37
Shares of oil exploration companies were in huge demand Wednesday, surging up to 20 percent, as the government decided to auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms.
Last Updated: Wednesday, September 2, 2015, 20:36
In a 'paradigm' shift, government will auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms including pricing and marketing freedom.
Last Updated: Wednesday, September 2, 2015, 13:59
The fields hold 89 million tonne of oil and gas resources which are worth Rs 70,000 crore at current prices.
Last Updated: Wednesday, September 2, 2015, 08:18
Hit by the scandal, the collapse of international oil prices and the sharp depreciation of the real against the dollar, the government is implementing a plan to divest almost $14 billion by 2016.
Last Updated: Tuesday, September 1, 2015, 23:27
Terming India's plans to conduct oil exploration off Vietnam coast in the South China Sea as "illegal", a state-run Chinese daily Tuesday said it is an "unwise move" that may "sabotage" positive momentum in ties.
Last Updated: Tuesday, September 1, 2015, 23:23
Oil prices tumbled 7 percent on Tuesday and Brent futures fell back below $50 a barrel as weak Chinese manufacturing data revived concerns about global demand for petroleum.
Last Updated: Tuesday, September 1, 2015, 05:09
Oil futures soared on Monday for a third consecutive day, rising more than 8 percent, as a downward revision of US crude production data and OPEC`s readiness to talk with other producers helped extend the biggest three-day price surge in 25 years.
Last Updated: Monday, August 31, 2015, 23:18
The US government cut its estimate of domestic oil production on Monday, helping send crude prices sharply higher.
Last Updated: Monday, August 31, 2015, 16:24
Russian oil giant Rosneft on Monday said its net profit fell by 22 percent in the second quarter from a year earlier, a stronger result than expected as the weak ruble partly offset falling oil prices.
Last Updated: Monday, August 31, 2015, 14:32
International benchmark Brent crude climbed 10 percent last week but was still heading for its fourth straight monthly decline and has risen in only two of the past 14 months.
Last Updated: Monday, August 31, 2015, 13:23
In a scenario where inflation is under control, the quantum of interest rate cut is "the prerogative of the RBI", he said.
Last Updated: Monday, August 31, 2015, 11:05
US benchmark West Texas Intermediate for October delivery eased 79 cents to USD 44.43 while Brent crude for October fell USD 1.00 to USD 49.05 in late-morning trade.
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