Commodities

Hours After Budget Fuel Retailers Hike Petrol, Diesel Prices

Following the steep rise in international crude oil prices, the prices of fuel has been hiked twice in two weeks.

Mar 1, 2015

India to Commission 5-mt Underground Oil Storage Reserves by October

The Indian Government is expected to commission a 5 million tonne underground storage facility.

Jan 31, 2015

After ONGC, Govt to Sell Stakes in GAIL and Oil India Ltd?

The subsidy sharing formula is being reworked to help limit the subsidy burden of the upstream companies.

Jan 9, 2015

Crude Oil Freefall: 'Picking a Bottom Could be Deadly'

Brent Crude prices took another hit falling 1.8 percent to $55.42 per barrel on Monday marking another decline due to the global oil oversupply.

Jan 5, 2015

China Ends Rare Earth and Metals Export Quota

The Chinese government abolished export quota on rare earth and other metals used in high-end electronic devices like smartphones on December 31, 2014.

Jan 5, 2015

Iran Calls on Saudi Arabia to Control OPEC Oil Supply; Prices Could Tumble to $30?

As oil prices fell to new six-year lows last week, Iran called on OPEC leader Saudi Arabia to take a stance on the global oil glut that has been plaguing the markets.

Jan 2, 2015

Brent Crude Prices Fall to Five-Year Lows at $57 Despite Libyan Output Disruption

Brent Crude prices slid to a new five-year low hovering at $57 on Tuesday even though output disruptions in Libya put a temporary hold on the global supply glut.

Dec 30, 2014

Oil Prices Spike to $63, Investors Confident of Prices Staying at $60 Level

Brent crude prices increased 2 percent to $63 on Monday as investors believed that prices would remain around $60 for the rest of the year. News of the spike comes right after Saudi Arabia defended its decision to not impose any cuts on oil production and said they would stick to it.

Dec 22, 2014

BP to Lay Off Hundreds of Workers to Cut Costs and Cope With Tumbling Oil Prices

BP will cut several jobs globally, including those in its London, Aberdeen and Sunbury offices on mounting costs and plummeting oil prices.

Dec 8, 2014

OPEC Decides Against Oil Output Cut; Sends Prices Tumbling

Saudi Arabia uses its clout to maintain OPEC oil output resulting in prices going down further, targets US shale.

Nov 28, 2014

Ali al-Naimi, Saudi Arabian oil minister

OPEC Will Not Cut Oil Output – Saudi Arabia Breaks Silence

Just a day before the Organization of the Petroleum Exporting Countries (OPEC) meets to discuss the rampant oversupply of oil in the global market, leader Saudi Arabia's oil minister suggested that the group will probably not cut oil output.

Nov 27, 2014

OPEC Likely To Agree on Production Cuts, But Will it Really Work?

OPEC is poised to meet on Thursday in Vienna, Austria, to decide on an oil supply ceiling or a production cut.

Nov 26, 2014

'To Cut or not to Cut' - All Eyes on OPEC as Oil Prices Tumble

As oil prices continue to tumble southwards, the world is awaiting a "supply cut" decision from the Organization of Petrol Exporting Countries (OPEC), which is poised to meet on Thursday in Vienna, Austria.

Nov 24, 2014

Halliburton and Baker Hughes Agree to $34.6 Billion Friendly Acquisition deal

Halliburton Company, one of the leading oil-field services giant, and Baker Hughes Inc., have agreed to a friendly acquisition deal where the former will take over all common outstanding shares of the latter for a deal worth $34.6 billion.

Nov 18, 2014

Halliburton Going Hostile with Baker Hughes Merger

Halliburton Co., the famous oil-field services giant is rushing the merger with rival Baker Hughes Inc threatening to replace its entire board of directors, according to several news reports.

Nov 15, 2014

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