Savings on oil will help in funding social security schemes: FM

Last Updated: Friday, August 28, 2015, 22:29

India, which imports close to 80 percent of its oil needs, spent about USD 124 billion in 2014-15 on shipping oil.

'India's oil imports dependence may hit 90% in next 2 decades'

Last Updated: Friday, August 28, 2015, 18:00

India imports 79 percent of its oil needs, and spent USD 138.3 billion on the same.

US crude down 4% to hit 6-1/2-year low on surprise stock build

Last Updated: Thursday, August 20, 2015, 08:59

US crude oil slumped over 4 percent on Wednesday to hit a 6-1/2-year low and almost break below $40 per barrel, as a huge unexpected stockpile build in the United States reinforced concerns about a growing global oil glut.

India to benefit from oil price fall post-Iran deal: Pradhan

Last Updated: Wednesday, July 15, 2015, 14:14

International oil prices will come down with the imminent lifting of sanctions against Iran and benefit India, Petroleum Minister Dharmendra Pradhan said Wednesday.

Shell holds Tehran talks over potential investment

Last Updated: Thursday, June 25, 2015, 07:07

Anglo-Dutch giant Shell has become the first international oil group to announce that it had held talks with Iran about potential investment should sanctions be lifted as part of a nuclear deal with the West.

Iran deputy oil min says OPEC unlikely to cut output

Last Updated: Monday, May 18, 2015, 10:22

The Organisation of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut at its next meeting in June, a senior Iranian official said on Monday.

Petrol price hiked by Rs 3.13 per litre, diesel by Rs 2.71

Last Updated: Friday, May 15, 2015, 19:52

The hike, which comes on the back of Rs 3.96 per litre increase in petrol and Rs 2.37 a litre raise in diesel from May 1, will be effective from midnight tonight.

Petrol price hiked by Rs 3.13, diesel by Rs 2.71 per litre

Last Updated: Friday, May 15, 2015, 18:34

Prices of petrol in Delhi will be Rs 66.29 a litre as against the current Rs 63.16; while diesel will cost Rs 52.28 per litre as against Rs 49.57.

'Govt needs contingency plan to tackle crude price volatility'

Last Updated: Sunday, May 10, 2015, 12:36

Oil prices rupee terms, prices have shot up by 11 percent from Rs 3,789.86 to Rs 4,203.94 per barrel.

Oil giant PetroChina Q1 net profit plunges 82%

Last Updated: Tuesday, April 28, 2015, 13:05

Chinese energy giant PetroChina said its net profit plunged 82 percent year-on-year in the first three months of the year, blaming the plunge in international oil prices.

OPEC oil output surge boosts surplus, despite higher demand

Last Updated: Thursday, April 16, 2015, 19:38

OPEC`s oil output has surged in March, the producer group said in a report, adding to excess supply in the market despite more evidence that its strategy of letting prices fall to hurt other producers is taking effect.