Oil prices rose on Tuesday after Libya declared force majeure on some of its supplies, while an ongoing Canadian outage lifted U.S. crude to levels not seen since late 2014. U.S. West Texas Intermediate (WTI) crude futures were at $74.73 at 0724 GMT, up 79 cents, or 1.1 percent, from their last settlement. They earlier […]
The US is prepared to work with nations that are reducing their oil imports from Iran on a “case-by-case basis”, but will not grant waivers to countries like India and Turkey as it could substantially reduce pressure on sanctions-hit Tehran, according to a senior Trump administration official. Iran is India’s third-largest oil supplier behind Iraq […]
Coal imports in the first two months of the ongoing fiscal registered a marginal decline of 2.6 per cent at 36.49 million tonnes (MT). The drop in coal imports comes at a time when some regions, including the national capital, are facing power shortage due to fast depleting coal stockpiles at power plants. “Overall, coal […]
Mangalore Refinery and Petrochemicals Ltd has bought its first cargo of Iraqi Basra Heavy crude from Royal Dutch Shell via a tender, two sources with knowledge of the matter said on Tuesday. MRPL is likely to blend the 1 million barrels Basra Heavy crude, which will be delivered in September, with lighter grades so it […]
Japan’s JERA has bulked up into one of Asia’s biggest energy traders with its second acquisition of a key team from France’s EDF Trading – its LNG business – a deal aimed at making the utility more savvy and nimble, as well as gaining better access to European markets. The signing of the deal, which […]
Around 24 flights scheduled to arrive in Delhi were diverted to nearby airports on Monday owing to the rain, said an airport official. Departures were also put on hold briefly.
Delhi’s Indira Gandhi International (IGI) Airport, which is the busiest airport in the country, is gearing up to handle 30% more flights per hour in the next three years. The airport handles up to 73 movements per hour, which is likely to be increased to 95 movements per hour by 2021. A movement includes both […]
Berkeley Heights (New Jersey): President Donald Trump said on Saturday that he had received assurances from King Salman of Saudi Arabia that the kingdom will increase oil production, “maybe up to 2,000,000 barrels” in response to turmoil in Iran and Venezuela.
Hyderabad: With the Indian government recently asking its refiners to drastically cut down on its Iranian oil imports before the November deadline, a leading Iranian newspaper on Monday questioned India’s decision to bow down to the US diktats while referring the South Asian country as a pygmy.
Contract workers of ONGC from Yanam on Monday sought the intervention of YSR Congress Party president and Leader of the Opposition in Assembly Y.S. Jagan Mohan Reddy into the issue of regularisation of their services.
New Delhi: India’s infrastructure growth plummeted to a 10-month low of 3.6 per cent in May due to a decline in production of crude oil and natural gas.
Mumbai: Cash-strapped national carrier Air India has doubled the gratuity ceiling amount of its employees from Rs 10 lakhs to Rs 20 lakhs.