Low crude price dents India's ONGC profit | Reuters
Feb 11, 2016 at 23:30 | Source:
NEW DELHI/MUMBAI India's biggest explorer Oil and Natural Gas Corporation Ltd posted a 64 percent drop in quarterly profit, hit by a a 40 billion rupees ($584.62 million) one-time impairment charge on producing assets due to a sharp fall in the crude...
India seeks UAE investment in energy sector| Reuters
Feb 11, 2016 at 00:45 | Source:
NEW DELHI India has invited investments from the United Arab Emirates in a slew of oil projects as part of Prime Minister Narendra Modi's drive to attract greater foreign participation in upgrading and expanding the South Asian nation's stretched inf...
Charts: Why economists doubt 7.6% GDP growth estimate for FY16
Feb 09, 2016 at 08:32 | Source:
By Dinesh Unnikrishnan and Kishor KadamIndias Gross Domestic Product (GDP), for fiscal year 2016 has been revised upwards from earlier estimates of 7-7.5 per cent projected in mid-year economic review to 7.6 percent and as compared with revised estim...
Growth worries, rate hike uncertainty pull Wall Street down| Reuters
Feb 09, 2016 at 04:15 | Source:
U.S. stocks dropped on Monday as concern over global growth hit banks and other economically sensitive shares, although a late rally in energy shares left the market well above its lows of the day.European banks led a global selloff in financial stoc...
Indias full year GDP revised upwards to 7.6 percent; economists skeptical
Feb 08, 2016 at 18:42 | Source:
Dinesh Unnikrishnan and Kishor KadamIndias Gross Domestic Product (GDP), for fiscal year 2016 has been revised upwards to 7.6 percent as compared with revised estimate of 7.2 per cent in the previous fiscal year, aided largely by the growth in the ma...
As Big Oil shrinks, boards plot different paths out of crisis| Reuters
Feb 07, 2016 at 14:15 | Source:
LONDON/HOUSTON As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis.Crude prices have tumbled around 70 percent over the past 18 m...
On Iran-Saudi rift, Gulf Arab states tread with caution| Reuters
Jan 11, 2016 at 23:16 | Source:
DOHA Gulf Arab states rallied dutifully behind Saudi Arabia when it cut relations with Iran last week, recalling their ambassadors and cancelling flights to Tehran in solidarity with the oil-rich kingdom after its embassy in Iran was torched by prote...
Reliance Industries faults Shah panel engagement on gas dispute
Jan 11, 2016 at 12:10 | Source:
Reliance Industries (RIL) has faulted the constitution of the Justice Ajit Prakash Shah panel by the government to decide the company's KG Basin gas dispute with state-run ONGC, saying this was without legal basis and that arbitration alone can decid...
Oman sets plan to halve oil's role in economy| Reuters
Jan 03, 2016 at 22:30 | Source:
MUSCAT Oman's government has released a five-year plan to halve the economy's dependence on the oil industry as low crude prices pressure government finances.The 2016-2020 plan, set out in a statement by the Supreme Council for Planning late on Satur...
Big oil to cut investment again in 2016| Reuters
Jan 03, 2016 at 21:30 | Source:
LONDON With crude prices at 11-year lows, the world's biggest oil and gas producers are facing their longest period of investment cuts in decades, but are expected to borrow more to preserve the dividends demanded by investors.At around $37 a barrel,...