The government has received $510,000 as its share of profit petroleum on commercial production of the Krishna-Godavari (KG) block crude oil for seven months. For full story, click here
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The government has received $510,000 as its share of profit petroleum on commercial production of the Krishna-Godavari block crude oil for seven months. For full story, click here
Essar Oil has aimed to surge the share of heavy crude at its Vadinar refinery in western India to about 75 percent of the oil it processes from 70 percent. For full story, click here
FairWest Energy Corporation declared that, subject to regulatory approval, it intends to offer up to 20,000,000 flow through common shares at $0.10 per share. For full story, click here
India’s Essar Oil declared that it has cut the share of low-sulphur and light grades of crude oil processed at its refinery, helping it cut costs and raise refining margins. For full story, click here
American Oil & Gas Inc. declared its Q1 2009 results with net-loss of $3.89 million or $0.08/share from $1.32 million or $0.03/share in Q1 2008. For full story, click here
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
It was a stock that people loved to hate. During the first half of 2008, investors cringed when they saw rallies in the price of oil. As crude surged to $150 a barrel last year, equity investors bemoaned the hit, and worried and gossiped about the outlook for consumer-oriented firms which would need to spend more on gas. Then the tide turned.
Share prices of ONGC rose 24 rupees, or 3.7 percent, to 675.10. India’s biggest explorer said oil will return to $100 a barrel, justifying its 1.4 billion-pound ($2.1 billion) takeover of the U.K.’s Imperial Energy Plc. For full story, click here