Oil prices fell on Friday as OPEC discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board. International Brent crude oil futures fell below $60 per barrel, trading at $59.53 per barrel at 0750 GMT, down 53 cents, or 0.9 percent from their […]
Day: December 7, 2018
No agreement on Opec oil output deal yet over exemptions for Iran: Report
Iran appears to be the main obstacle for an Opec oil output deal on Friday as the group’s leader Saudi Arabia has yet to agree to exemptions for sanctions-hit Tehran, two Opec sources said. The Organization of the Petroleum Exporting Countries resumes discussions on Friday in Vienna before heading into a meeting with non-Opec oil […]
NTPC may buy Centre’s stake in SJVN, parleys on with HP govt
State-run NTPC is likely to acquire the Central government’s stake in SJVN Ltd, but the Himachal Pradesh government has expressed some reservations relating to this transaction, an official said. At the current market price, sale of 63.79 per cent stake in SJVN would fetch the Centre about Rs 6,700 crore. SJVN is a joint venture […]
‘Our airplanes are safe,’ Boeing on 737 MAX as officials push training
Aviation authorities in Indonesia and India on Thursday pushed for more simulator training for Boeing Co 737 MAX pilots following the deadly Lion Air crash, while the world’s largest planemaker reiterated that its top-selling jetliner was safe. Boeing Chief Executive Officer Dennis Muilenburg told a CNBC interviewer on Thursday he was “very confident” in the […]
A Malayali could be the saviour Naresh Goyal is desperately looking for
Naresh Goyal, chairman of Jet Airways, India’s second-biggest airline by market share which is now struggling to stay afloat, is trying to find a saviour. And that could be a Malayali businessman — Abu Dhabi-based NRI billionaire Yusuffali M A. A Padmashri awardee, Yusuffali is chairman and managing director of Lulu GroupInternational that owns the […]
Air Italy launches flight from Delhi to Milan
Air Italy today said that they are discussing a code share alliance with Vistarato feed their flights to their home country from Delhi and Mumbai. “We are in the final stages of discussions with Vistara for code share on their flights, which will provide us connectivity to other cities in the country,” Rossen Dimitrov, Chief […]
US becomes net oil exporter for 1st time in 75 yrs; Opec’s power diminishes
America turned into a net oil exporter last week, breaking almost 75 years of continued dependence on foreign oil and marking a pivotal — even if likely brief — moment toward what US President Donald Trump has branded as “energy independence”. The shift to net exports is the dramatic result of an unprecedented boom in […]