India is still considering to free fuel prices
India is looking at ending subsidies on petrol and diesel retail prices but has no immediate plans to raise pump prices after the surge in international oil prices. For full story, click here
Archive for June, 2009
Eni Spa has closed down Nigerian Crude Oil Pipeline
Eni Spa, Italy’s leading oil company, closed an oil pipeline supplying the Brass export terminal in Nigeria after it came under armed attack last night. For full story, click here
Crude Oil Futures have remained higher on Global Cues
Crude Oil Futures have extended gain for the second straight day by gaining 0.71 per cent on the Multi Commodity Exchange declared that on sustained purchasing by speculators, influenced by a firming international trend. For full story, click here
China and Myanmar has inked MoU on cross border Crude Oil Pipeline
China and Myanmar declared that it has signed a memorandum that gives China National Petroleum Corporation the right to design, construct and operate the crude oil pipeline that will link the two countries. For full story, click here
Russia’s LUKOIL has piped Valero for stake in Total refinery
Russia’s LUKOIL has purchased a stake in a Dutch refinery from France’s Total, gaining a foothold in northwest Europe and blocking a bid by the biggest U.S refiner, Valero, to enter the region. For full story, click here
Nigerian rebels have destroyed oil pipeline
Nigeria’s main militant group declared that a major pipeline supplying crude oil to Italian oil group Agip’s Brass exports terminal. For full story, click here
Indian Oil is planning to spend $2.8 bln on expansion
Indian Oil Corp., the nation’s biggest refiner, will raise spending 23 percent to boost capacity even as it borrows more to cover losses from selling fuels below the cost of crude oil. For full story, click here
Crude Oil is trading near $71 after snapping four weeks of Increases
Crude oil snapped four weeks of gains, trading little changed near $71 a barrel in New York, as fuel demand remained weak even as data showed that the international economy may be recovering from the slump. For full story, click here
Reliance May Crude import surged 23% more
Reliance Industries have imported about 23 percent more crude in May than a year ago, widening its crude slate as it made rare purchases of 28 and Marlim Light. For full story, click here
India’s MRPL has sought H2 Aug Crude
India’s Mangalore Refinery and Petrochemicals Ltd. has issued a tender to purchase 650,000 barrels of crude oil for Aug. 15-30 loading. For full story, click here
