DUBAI (Reuters) – OPEC and its allies maintained strong compliance with agreed oil output targets in May, when the first part of a gradual production increase took effect, according to figures given by an OPEC+ source on Friday. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, complied with 115% of agreed […]
Day: June 14, 2021
OPEC+ will need to boost output to meet 2022 demand recovery: IEA
OPEC+ oil producers will need to boost their output in order to meet demand set to recover to pre-pandemic levels by the end of 2022, the International Energy Agency said on Friday. “OPEC+ needs to open the taps to keep the world oil markets adequately supplied,” the Paris-based energy watchdog said, adding that rising demand […]
Oil rally has more room, Brent expected to hit $80 per barrel: Goldman
(Reuters) – U.S. investment bank Goldman Sachs expects Brent crude prices to reach $80 per barrel this summer, betting that a recent oil market rally will continue as vaccination rollouts boost global economic activity and demand for the commodity. Brent prices hit $72.93 per barrel this week, their highest level in over two years, fuelled […]
Oil prices retreat, but heads for third weekly rise on demand recovery
SINGAPORE (Reuters) – Oil prices slipped on Friday but were set for their third weekly rise on expectations for a recovery in fuel demand in Europe, China and the United States as rising vaccination rates lead to an easing of pandemic curbs. Brent crude futures fell 16 cents, or 0.22%, to $72.36 a barrel at […]
Fuel prices rise again across the country; petrol at Rs 102/ltr in Mumbai
The common man continues to face the heat from rising fuel prices as oil marketing companies once again decided to pass on the rise in global oil rates to consumers on Friday. Accordingly, retail price of petrol and diesel got dearer by 29 paisa per litre and 28 paisa per litre to touch new high […]
Ethanol blending: India’s Rs 50,000 cr bet to cut dependence on foreign oil
India is set to spend almost $7 billion to boost ethanol production as it prepares to roll out a greener mix of gasoline that may cut its dependence on foreign oil. About 10 billion liters of ethanol will be required each year to meet the 20% ethanol-blended fuel standard by 2025, India’s Oil Secretary Tarun […]
Flipkart to pilot drone delivery of Covid-19 vaccines in Telangana
E-commerce major Flipkart has partnered with the Telangana government to lead a consortium tasked with the development and execution of the drone deliveries of medical supplies to remote areas under the ‘Medicines from the Sky’ project. The pilot, which is expected to be conducted for over six days, will be tested out for delivering thousands […]
These are the most punctual airlines and airports in the world
Challenging times for air travel have led to a shakeup in Cirium’s on-time performance rankings for the industry, with Japan Airlines Co. and Tokyo’s Haneda Airport climbing to the top for punctuality. Other standouts among carriers include Hawaiian Airlines Inc., Red Wings ZAO and Avianca Holdings SA, Cirium said in its first monthly “On-Time Performance […]
Virgin Atlantic leans on TCS to power growth, transformation-led growth
Tata Consultancy Services (TCS), announced that it has expanded its strategic partnership with Virgin Atlantic, one of the UK’s leading airlines, to help the latter embark on a new phase of recovery and growth. The enhanced partnership builds on a 17-year relationship between the two organisations and will see TCS take exclusive responsibility for end-to-end […]
Virgin Atlantic partners with TCS to power recovery and transformation
Tata Consultancy Services (TCS) on Friday announced that it has expanded its strategic partnership with Virgin Atlantic, one of the UK’s leading airlines, to help the latter embark on a “new phase of recovery and growth”. The enhanced partnership builds on a 17-year relationship between the two organisations and will see TCS take exclusive responsibility […]
Moody’s downgrades Delhi International Airport rating following Covid surge
Rating agency Moody’s today downgraded Delhi International Airport Ltd’s (DIAL) corporate family rating (CFR) from “Ba3” to “B1”, reflecting the adverse impact of reduced passenger traffic and airport revenue in FY22 following a surge in Covid-19 cases. The senior secured ratings were downgraded from “Ba3” to “B1”. At the same time, Moody’s downgraded Cliffton Ltd’s […]
Gayatri Projects slips 18% after NHAI declares company as non-performer
Shares of Gayatri Projects slipped 18 per cent to Rs 31 on the BSE in intra-day trade on Friday, amid heavy volumes, after the National Highways Authority of India (NHAI) declared the company a non-performer and prohibited from participating in the ongoing and future bids for the road projects till defects and deficiencies in one […]