Oil & gas
RIL sells US shale asset at $126 mn after buying it for $392 mn
07 Oct 2017
The US shale market has become highly competitive and companies have cut costs to stay afloat after a slump in crude oil and gas prices
Glencore to buy Chevron’s S African, Botswanaian assets for $973 mn
07 Oct 2017
The assets include a 100,000 barrel-per-day oil refinery in Cape Town, a lubricants plant in Durban, 820 petrol stations and other oil storage facilities and 220 convenience stores across South Africa and Botswana
Russia in $3-bn missile defence deal with Saudi Arabia
06 Oct 2017
Saudi Aramco and Russian oil companies also signed several agreements on oil technology amidst new developments on the energy front that tend to put a squeeze on oil demand
Saudi Aramco plans unit in India, to open office soon: report
05 Oct 2017
This is part of Saudi Aramco’s strategy of overseas expansion by investing in refineries in major markets to lock in customers as supplies from US start undemining Opec
Petrol, diesel to cost less as centre cuts excise duty by Rs2 per litre
04 Oct 2017
The decision comes after the government increased excise duty on auto fuels nine times since the oil price fall, and state-run oil marketing companies increased petrol prices by Rs7.8 a litre and diesel rates by Rs5.7 a litre since July this year
First US oil shipment arrives at Paradip; comes cheaper than Dubai oil
03 Oct 2017
The first US crude oil cargo of 1.6 million barrels bought by Indian Oil Corporation from the US Gulf Coast refiners has arrived at Paradip Port in Odisha priced $2 per barrel cheaper than the Dubai crude that India often buys
CNG cars in Mumbai region up 320% in five years
27 Sep 2017
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