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NEW DELHI/SINGAPORE: Indian oil buyers are asking Iran to bear the insurance risk for transporting its crude as tighter Western sanctions make it more difficult to buy Tehran’s principal export, industry sources said on Wednesday. The number of maritime firms willing to transport Iranian crude has dwindled significantly since...
NEW DELHI: Seeking to expand the area of cooperation and take the economic engagement to a new level, the Petroleum Secretaries of India and Pakistan are scheduled to hold bilateral talks in New Delhi on March 23. A high-level delegation, led by Pakistan’s Petroleum and Natural Resources Secretary Mohammad...
NEW DELHI: The government has granted industrial units the freedom to use domestic natural gas in their plant if they can replace it with LNG at another location, in a bid to help fuel-starved units which do not have the infrastructure to ship imported gas from the west coast...
CHANDIGARH: Punjab fuel outlet owners on Tuesday asked the newly formed SAD-BJP government to honour its “promise” by abolishing octroi on petrol and diesel which was announced before the Assembly elections. “We want now from the Punjab government to fulfill its promise which was announced before the elections by...
NEW DELHI: At a time when the government is hard pressed to push economic growth, investment growth by its leading listed companies will be flat in 2012-13, as against a 35 per cent increase in the current year. Analysis of combined investment outlay by six sector leaders — Oil...
KISHANGANJ: The Oil and Natural Gas Corporation (ONGC) will invest Rs 200 crore in two projects of oil and gas exploration in Bihar’s Kishanganj district over the next three years. This was announced by ONGC’s Chief Engineer and Land Acquisition Officer D P Vishwas here today. The company was...
NEW DELHI: Opposing the demand of Reliance Industries Limited (RIL) for an upward revision of KG-D6 gas price, the Association of Power Producers (APP) has warned that such a move would only push up electricity price by 50 paise per unit for every dollar increase in gas price. In...
MUMBAI: The International Air Transport Association (Iata), an association of airlines and travel agents, said on Tuesday that rise in crude will cut down airlines’ profit by $500 million in calendar 2012 to $3 billion. Profit margins also will dip to 0.5% from 0.6% reported last year. “The downgrade...
Saudi Arabia Says It Will Take Oil Prices To Fair Levels LONDON: Brent crude fell more than $2 to around $123 a barrel on on Tuesday as Kuwait said Iran had reassured the Gulf state it would not close the strategically important Strait of Hormuz shipping lane and...
SINGAPORE: Franklin Templeton funds that focus on developing economies are heavily invested in energy stocks, as the firm believes oil prices have room to increase further, the head of its emerging markets group, Mark Mobius, said on Tuesday. “If you look at inflation and the oil price over the...