Oil slips towards $77 as Saudi boost, trade tensions weigh

Oil slipped towards $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, although oil supply disruptions lent support. Top exporter Saudi Arabia told OPEC it raised oil output by almost 500,000 barrels per day last month, OPEC sources said, a sign Riyadh wants to […]

Fitch affirms HMEL’s default rating, sees no support from GOI, ONGC

Fitch Ratings on Friday affirmed HPCL-Mittal Energy’s (HMEL)’s long-term Issuer Default Rating (IDR) at ‘BB’, stating it expects neither HMEL’s parent, Oil and Natural Gas Corporation (ONGC) nor the Indian government to ultimately support HMEL. “HMEL’s IDR is capped at HPCL’s standalone credit profile of ‘BB’ as we do not believe that HMEL’s parent, Oil […]