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PM inaugurates Indian Oil's Paradip refinery

07-02-2016| Source:PTI

of IOC. Prior to Paradip, its eight refineries had a cumulative capacity of 54.2 million tons of crude oil. Paradip helped IOC overtake Reliance Industries, which has twin refineries at Jamnagar in Gujarat

Expect crude oil prices to trade positive: Sushil Finance


According to Sushil Finance, crude oil prices is expected to trade positive on the back Comments by Russia's foreign minister.

Oil up as weak dollar offsets supply concerns

05-02-2016| Source:PTI

Singapore, Feb 5 (AFP) Crude prices rose today as a weakerUS dollar offset concerns over a global supply glut anddiminishing hopes of a near-term deal by major petroleumproducers to cut output.

Oil prices steady in thin Asian trading ahead of Lunar New Year

05-02-2016| Source:Reuters

US crude futures were trading at USD 31.73 per barrel at 0023 GMT, virtually unchanged from the previous close, and traders said liquidity was low due to the Lunar New Year holiday which will last

Barack Obama to seek new tax on oil in Budget proposal

05-02-2016| Source:Reuters

The proposed fee, which would be paid by oil companies and phased in over five years, was quickly met with scorn by lawmakers in the Republican-controlled Congress.

Cairn India cannot export from Rajasthan oil fields: Govt  

04-02-2016| Source:CNBC-TV18

Cairn's contention essentially is that the company is not obligated to sell the excess crude that is generated from the Rajasthan oil fields to the government and it should have the freedom to export

India seeks $2.2 bn to build 2nd phase of strategic oil reserves

04-02-2016| Source:Reuters

Strategic storage reserves are underground rock caverns used to store crude oil that can be used in case of a supply cut-off to a country.

Petronet LNG to renegotiate crude price in ExxonMobil deal: Srcs  

04-02-2016| Source:CNBC-TV18

Earlier in 2009, Petronet and ExxonMobil had signed a 20-year long LNG deal, where the company had agreed to pay Exxon 14.5 percent of crude price under different circumstances.

Oil prices extend rebound in Asia

04-02-2016| Source:PTI

Traders brushed aside bearish data showing another increase in US commercial crude inventories, but analysts said any rally in a market awash with barrels of oil is bound to be short-lived.

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