Oil & gas
BP to let go middle management as oil price fall bites
09 Dec 2014
BP, which suffered a major setback in the Gulf of Mexico oil spill and subsequent compensation claims and is now struggling with low oil prices, plans to reduce the number of managers across all “layers above operations”
Oil near 5-year low of $68 a barrel as Saudi Arabia cuts prices
05 Dec 2014
Saudi Arabia’s Aramco cut the January price for its Arab Light grade for Asian customers by $1.90 a barrel and for US buyers by 70 cents a barrel, from December
Govt further hikes excise duty on petrol and diesel
02 Dec 2014
The excise duty hike is expected to yield an additional Rs4,000 core in the remaining part of the current fiscal and, along with the Rs6,000 crore expected from the earlier hike in excise duty, would fetch the government an additional Rs10,000 crore
Russia to scrap South Stream gas pipeline
02 Dec 2014
Warren Buffet’s Lubrizol to buy two units of Weatherford for $750 mn
02 Dec 2014
The acquisitions of these two businesses will give Lubrizol a more significant footprint in the $20-billion oilfield chemicals business
Commercial LPG prices slashed; petrol, diesel too cost less
01 Dec 2014
State-run oil and gas marketing companies have announced a sharp reduction of over Rs130 per non-subsidised cylinder of LPG
Oil wilts as OPEC stands by Saudi decision not to cut production
28 Nov 2014
To compete with US shale oil, production of which would be viable for a price of anywhere between $40 to $60 a barrel, OPEC has to allow for lower prices, feels Saudi Arabia, OPEC’s biggest oil producer
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