As crude prices revolve around four-year lows, the Indian government may look at cutting diesel prices further that will help cool inflation. For more information, click here
Continue reading "Indian government considering cut in diesel prices"
Monday, February 23, 2009
India’s Oil & Natural Gas Corp (ONGC), hascut its crude oil output target by around 3.5% for the current financial year due to infrastructure shortages and technical issues. For more information, click here
Continue reading "ONGC cuts oil output target by 3.5%"
Tuesday, February 17, 2009
Total saw its stake in the Sincor project reduced from 47% to 30.3% in July 2007, and the company remains committed to the project. For full story, click here
Continue reading "Total’s stake in the Sincor project reduced"
Tuesday, January 27, 2009
The latest cut by OPEC helped oil prices recover from recent lows, although prices remain much below the head of OPEC’s 2009 target of USD 75 per barrel, a price Mr Botelho de Vasconcelos says is necessary for oil exploration to be viable. For full story, click here
Continue reading "Latest cut by OPEC helped oil prices recover"
Tuesday, January 27, 2009
OPEC could meet before March 2009 if Brent crude oil prices fall to below USD 40 per barrel. For full story, click here
Continue reading "OPEC may meet early if oil drops below USD 40"
Tuesday, January 6, 2009
BHP Billiton temporarily cuts output at 60 pct-owned Samancor operation. For full story, click here
Continue reading "BHP Billiton temporarily cuts output"
Monday, December 29, 2008
OPEC should cut oil output by “much more” than 1 million barrels per day as inventories were very high, OPEC President Chakib Khelil said. For full story, click here
Continue reading "OPEC president wants ‘much more’ than 1 mn bpd cut"
Saturday, December 20, 2008
Fears of a deepening recession in global economies destroying demand for crude oil drove down price of the commodity to less than $34 per barrel on the New York Mercantile Exchange, its lowest in over four years. For full story, click here
Continue reading "Oil below $34 despite Opec cut"
Friday, December 19, 2008
The OPEC oil producing cartel will continue cutting output until the price of crude stabilises, its President Chakib Khelil said on Friday. For full story, click here
Continue reading "OPEC to cut output until prices stabilise: President"
Friday, December 19, 2008
Oil fell below $34 on Friday to its lowest level in almost five years as the global economic slowdown overshadowed OPEC’s record supply cuts. For full story, click here
Continue reading "Oil fell below $34"
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Thursday, February 26, 2009