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  Iran asks India to clear $6.5 billion oil dues within 2 months

  World | August 20, 2015 17:43 IST

  New Delhi:  Iran has asked India to pay within two months $6.5 billion in past oil dues, partly in rupees and rest in dollars or euros, a top official said."The payment will be in at

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  Oil at sub-$49 brings fuel price cuts

  August 17, 2015 15:56 IST

  New Delhi: After having dropped below the psychological $50-a-barrel-mark earlier in the week, the Indian basket of crude oils closed below $49 on its last trading on the eve of Independence Day.State-run Indian Oil Corp

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  Equity markets slip on Greece crisis, China stocks crash

  July 11, 2015 16:33 IST

  Mumbai: Indian equities slipped on the Greek crisis and fears of a Chinese market meltdown during the weekly trade ended July 10, as investor were reluctant to chase higher prices in a time of uncertainty.However,

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  Crude oil prices shoot up after Saudi airstrikes in Yemen

  March 26, 2015 13:57 IST

  New Delhi: Crude oil price shot up today by nearly 6 per cent after Saudi Arabia and its Gulf Arab allies began airstrikes against Houthi rebel in Yemen.Brent crude oil futures rose to USD 59.71

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  Leaking oil from ONGC well damages rabi crop over 100 acres

  India | February 22, 2015 22:40 IST

  Machilipatnam: Gas and crude oil from an ONGC well leaked causing panic among farmers at Chinnapandraka village in Kruttivennu mandal of Krishna district today evening and damaging crop in more than hundred acres.  Machilipatnam Revenue

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  West Virginia train derailment sends oil tanker into river

  World | February 17, 2015 6:46 IST

  Mount Carbon, West Virginia: A train carrying more than 100 tankers of crude oil derailed in southern West Virginia on Monday, sending at least one into the Kanawha River, igniting at least 14 tankers and

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  Budget 2015: Govt may restore customs duty on crude oil

  February 05, 2015 14:00 IST

  New Delhi: Finance Minister Arun Jaitley's much-anticipated Budget is expected to restore customs duty on the crude oil. The move will give the exchequer around Rs 14,000 crore the next financial year.The extra money will

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  The Rajan behind the unscheduled rate cut

  January 18, 2015 8:00 IST

  New Delhi: Weeks ahead of schedule, Reserve Bank of India (RBI) Governor Raghuram Rajan cut interest rates for the first time in almost two years on the day data showed the December trade deficit had

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  Oil prices drip down to $45 per barrel, lowest in six years

  January 14, 2015 12:15 IST

  New Delhi: Bringing yet more smiles on the faces of consumers, global oil prices have slid to a low of $45 a barrel on Tuesday, lowest in last six years. Although the news about crude

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  Oil prices dip to 5.5-year lows, hampered by oversupplies

  January 13, 2015 9:30 IST

  New Delhi: Oil prices on Monday tumbled to fresh 5.5-year lows under $49 per barrel. The fall comes amid US investment bank Goldman Sachs cutting its price outlook and the ongoing global crude supply glut.Brent

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  Goldman Sachs says oil prices could fall to $30s

  January 12, 2015 18:07 IST

  New Delhi: US investment bank Goldman Sachs has slashed its short-term forecast for crude oil and expects it to fall to around $30 per barrel mark.Analysts at Goldman Sachs cut their three-month forecasts for Brent

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  Petrol prices likely to be cut by Rs 1.50 this week

  November 11, 2014 9:49 IST

  New Delhi: In a major relief for the common man, petrol prices may be cut by Rs 1.50 per litre this week.If this happens, it would be the seventh reduction in a row since the

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  More petrol, diesel prices cut likely as crude dips to $80 a barrel

  November 05, 2014 9:42 IST

  New Delhi: Following the recent multiple reductions in petrol rates and deregulation of diesel prices last month, fuel consumers can look forward to more price cuts as Brent crude oil on Tuesday fell to its

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  Petrol, diesel prices likely to be cut once again

  October 30, 2014 10:49 IST

  New Delhi: In yet another effort to contain the rising inflation, the government is expected to announce reduction in the cost of petrol and diesel.Sources said that Rs 1.5 to 2 deduction is expected in

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  OVL's crude oil output jumps 26% in 2013-14

  April 20, 2014 19:52 IST

  New Delhi: ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has reported a 26% jump in crude oil production in 2013-14 as recent acquisitions offset a natural decline in

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  Nearly 80% of India's crude oil needs imported

  August 27, 2013 16:32 IST

  New Delhi: Almost 79 per cent of India's crude oil requirements have to be imported, Petroleum Minister M. Veerappa Moily said Tuesday.In a written reply in parliament, Moily said the estimated demand for 2013-14 of

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  Iran Supply Disruption May Push Crude Oil Prices By 30 Per Cent, Says IMF

  March 20, 2012 19:51 IST

  New Delhi, Mar 20: IMF chief Christine Lagarde today cautioned that supply disruptions from Iran could push global crude prices by up to 30 per cent, at a time when the price is hovering at

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  Petrol Price Hike Again Next Month

  India | May 31, 2011 10:19 IST

  New Delhi, May 30: State-owned Indian Oil Corp,  the nation's largest fuel retailer, today said it may hike petrol price next month as the steep hike of Rs 5 per litre of May 15 was