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  • Iraq exports first natural gas shipment in its history Mar 21, 2016 07:42 AM IST

    Iraq exports first natural gas shipment in its history

    The move revives a long-sought ambition by Iraq to be a gas exporter, thanks to a joint venture with Anglo-Dutch Royal Dutch Shell PLC and Japan's Mitsubishi Corp.

  • Saudi,Iraq sell more oil to India,elbow out Latin America crudes Feb 19, 2016 03:41 PM IST

    Saudi,Iraq sell more oil to India,elbow out Latin America crudes

    Competitive prices and shorter shipping distances are giving the Middle East members of the Organization of the Petroleum Exporting Countries (OPEC) the upper hand in India, the world's third-largest crude oil importer.

  • Iran snubs Doha proposal, won't freeze on oil output levels Feb 17, 2016 06:56 PM IST

    Iran snubs Doha proposal, won't freeze on oil output levels

    Mahdi Asali, Iran's OPEC envoy, said his country will in fact keep increasing its crude exports until it reaches levels attained before international sanctions were imposed on Tehran over its nuclear program.

  • Oil falls 3% on swelling oversupply Jan 25, 2016 05:46 PM IST

    Oil falls 3% on swelling oversupply

    Oil prices fell 3 percent on Monday as Iraq announced record-high oil production feeding into a heavily oversupplied market, wiping out much of the gains made in one of the biggest-ever daily rallies last week.

  • ISIS threat looms large over India, 23 part of terror group Dec 30, 2015 08:55 AM IST

    ISIS threat looms large over India, 23 part of terror group

    Six out of these 23 Indians who had joined the dreaded terror network have died and two have returned.

  • US crude oil holds near 2009 lows as global glut persists Dec 11, 2015 09:57 AM IST

    US crude oil holds near 2009 lows as global glut persists

    The rout is a result of a huge overhang in production, which is seeing anywhere between half a million and 2 million barrels of crude oil being produced every day in excess of demand, and is fast filling onshore storage sites, which some analysts expect to run out in early 2016.

  • OPEC points to larger 2016 oil supply surplus Dec 10, 2015 09:50 PM IST

    OPEC points to larger 2016 oil supply surplus

    The Organization of the Petroleum Exporting Countries (OPEC) in a monthly report also said its members pumped more oil in November and forecast little increase in global demand for its crude next year, pointing to a larger supply glut.

  • Divided OPEC fails to agree on production ceiling Dec 05, 2015 02:41 PM IST

    Divided OPEC fails to agree on production ceiling

    OPEC members failed to agree an oil production ceiling on Friday at a meeting that ended in acrimony, after Iran said it would not consider any production curbs until it restores output scaled back for years under Western sanctions

  • Iraq unseats Saudi Arabia as top crude supplier to India Oct 28, 2015 06:03 PM IST

    Iraq unseats Saudi Arabia as top crude supplier to India

    Iraq overtook Saudi Arabia as the top crude exporter to India in September for the third time in 2015.

  • 5 political crises hampering Europe's recovery Oct 24, 2015 11:58 AM IST

    5 political crises hampering Europe's recovery

    Europe is facing its largest refugee crisis since World War II, and policymakers are struggling to cope with it. Divided opinion on how to handle the influx of migrants — averaging 8,000 a day — has slowed decisionmaking.

  • IMF may offer major loan to Iraq in 2016: Official Oct 21, 2015 10:51 AM IST

    IMF may offer major loan to Iraq in 2016: Official

    An IMF team will discuss with Iraqi officials early next month how to create a Staff-Monitored Programme for Baghdad - an arrangement under which the Fund would monitor Iraq's economic policies, said Masood Ahmed, Director of the IMF's Middle East and Central Asia Department.

  • U.N. says world waited too long to act on refugee crisis Sep 27, 2015 12:53 PM IST

    U.N. says world waited too long to act on refugee crisis

    The United Nations high commissioner for refugees said on Saturday the world waited far too long to respond to the refugee crisis sparked by the wars in Syria and elsewhere, though rich countries now appear to understand the scale of the problem.

  • Govt clears multi-billion dollar deal with Boeing Sep 22, 2015 03:36 PM IST

    Govt clears multi-billion dollar deal with Boeing

    Many in the defence sector had expected the deal, valued to be over USD 2.5 billion and pending since 2013 following finalisation of cost negotiations, to be signed during the visit of US defence secretary Ashton Carter in June this year.

  • Google launches donation-matching campaign for refugees Sep 16, 2015 09:18 AM IST

    Google launches donation-matching campaign for refugees

    Google took an uncharacteristically personal approach in announcing the donation drive on its blog. Rather than having an executive make the announcement, Rita Masoud, a Google employee who fled Kabul with her family when she was seven years old, wrote about her personal experience.

  • M East, Africa computer market suffer sharpest ever decline Aug 31, 2015 03:25 PM IST

    M East, Africa computer market suffer sharpest ever decline

    Overall personal computer shipments for the quarter fell to 3.3 million units, according to global technology research and consulting firm International Data Corporation (IDC).

  • Arab OPEC brace for oil-price weakness for rest of 2015 Aug 28, 2015 08:18 PM IST

    Arab OPEC brace for oil-price weakness for rest of 2015

    OPEC delegates, including those from core Gulf OPEC countries, see economic troubles in top energy consumer China as short term and unlikely to have much impact on demand for crude which will rise seasonally in the fourth quarter.

  • Inside Amazon: Wrestling big ideas in a bruising workplace Aug 17, 2015 02:55 PM IST

    Inside Amazon: Wrestling big ideas in a bruising workplace

    They are told to forget the "poor habits" they learned at previous jobs, one employee recalled. When they "hit the wall" from the unrelenting pace, there is only one solution: "Climb the wall," others reported.

  • OPEC just kicked oil into the $30s Aug 12, 2015 10:32 AM IST

    OPEC just kicked oil into the $30s

    West Texas Intermediate crude futures skidded through the year's lows and looked set to break into the USD 30s-per-barrel range after the Organization of the Petroleum Exporting Countries admitted to more pumping and China devalued its currency, sending ripples through global markets.

  • Oil imports from Saudi Arabia down 8% Jul 27, 2015 06:26 PM IST

    Oil imports from Saudi Arabia down 8%

    Crude oil import from Saudia Arabia was cut to 34.99 million tonnes in the year to March 31, 2015 from 38.18 MT in 2013-14, Oil Minister Dharmendra Pradhan said on Monday.

  • Obama calls on veterans to back Iran deal Jul 22, 2015 08:23 AM IST

    Obama calls on veterans to back Iran deal

    A steely Obama travelled to Pittsburgh, Pennsylvania where he urged the 1.9 million member Veterans of Foreign Wars to give the nuclear deal with Tehran a chance.

  • ONGC Videsh loses bid for two oil blocks in Mexico Jul 17, 2015 07:57 PM IST

    ONGC Videsh loses bid for two oil blocks in Mexico

    ONGC Videsh Ltd, the overseas arm of state-owned explorer Oil and Natural Gas Corp (ONGC), has lost out on its bid for two oil blocks in Mexico's first licensing round in 88 years.

  • OPEC sees more balanced oil market in 2016 Jul 13, 2015 08:31 PM IST

    OPEC sees more balanced oil market in 2016

    The global oil market should be more balanced next year as China and the developing world increase oil consumption while supply of shale oil from North America and other regions grows more slowly, OPEC said on Monday.

  • Diamond Power up 10%; bags export order worth USD 14.5mn Jul 10, 2015 12:04 PM IST

    Diamond Power up 10%; bags export order worth USD 14.5mn

    The order is for supply of 4600 kms of Aerial Bunch Cables to Iraq.

  • India bans oil trade with Al Qaida linked groups Jun 30, 2015 09:09 PM IST

    India bans oil trade with Al Qaida linked groups

    Earlier, the Securities and Exchange Board of India (Sebi) had issued warnings to stock exchanges and other market entities against Taliban and Al-Qaida linked organisations and individuals.

  • Oil prices dip on US gasoline build, but helped by weak $ Jun 18, 2015 12:15 PM IST

    Oil prices dip on US gasoline build, but helped by weak $

    Brent August crude declined 18 cents at USD 63.69 a barrel after it settled 17 cents higher on Wednesday at USD 63.87.

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