Oil & gas
Cairn gives up on deadlines for Vedanta deal
20 May 2011
Cairn had earlier maintained that the deal would fall through if it was not concluded within the deadline approved by its own and Vedanta’s shareholders
Hike output to aid global recovery, IEA tells OPEC
19 May 2011
In an unusual move, the IEA, which represents the world's top 28 oil consumers, mainly among developed economies, said today that oil producers must raise supplies, as rising oil prices are threatening global economic recovery
BP, ConocoPhillips scrap $35-bn Alaska gas pipeline JV
18 May 2011
BP and ConocoPhillips have decided to scrap their planned $35-billion joint venture natural gas pipeline project in Alaska because of poor customer demand and bad project economics
BP Rosneft deal collapses as agreement deadline expires
17 May 2011
BP's landmark Arctic deal fell through late last night after it failed to strike an agreement with its various Russian partners before the deadline expired at midnight on Monday
BP in bid to salvage Russian deal
16 May 2011
Petrol price goes up Rs5 per litre from midnight
14 May 2011
An empowered group of ministers, which will meet next week, is widely expected to announce a hike in price of diesel by as much as Rs4 a litre.
US to tap Alaskan oil reserves, reopen Gulf of Mexico
14 May 2011
Rising international prices of crude oil has dwarfed the huge cost of drilling for oil and gas in the Alaskan National Petroleum Reserve.
Oil retailers get Rs20,000cr subsidy relief from govt
13 May 2011
The government’s total outgo in subsidy to oil firms has doubled to Rs40,912 crore for 2010-11
High prices to slow oil demand growth: IEA
12 May 2011
Cairn-Vedanta deal to miss yet another deadline
12 May 2011
The 20 May deadline for the finalisation of the Cairn-Vedanta deal is likely to be extended again, as government approval for the deal is unlikely by this date
Diesel, LPG price hike put off, but petrol to spurt
11 May 2011
A decision on hiking the prices of diesel and cooking gas (LPG) has been put off yet again, but petrol is likely to go up this week by at least Rs3 a litre
India to auction first shale gas assets
10 May 2011
India will launch its first-ever bid round for exploration of shale gas once the regulatory regime is in place, oil sector regulator, director general of Hydrocarbon, S K Srivastava said today
Essar Steel fails to get stay on RIL gas allocation
10 May 2011
Essar Steel had moved the Delhi high court against an order from the oil ministry to RIL to prioritise the ‘core’ sector in supplying gas from its block off the Andhra Pradesh coast.
Parikh panel moots extra tax on diesel cars, SUVs
10 May 2011
The committee has suggested an up-front tax on diesel vehicles, popular in India because of subsidised diesel prices that are considerably cheaper than petrol, to compensate for differential fuel pricing
RIL cuts gas supply to non-core users; tightens belt
09 May 2011
Reliance Industries today announced a reduction in natural gas supplies to non-core users like refineries and steel plants in order to meet demands of fertiliser and power plants
Crude bounces back after record slump
06 May 2011
After slumping to $106 a barrel on Thursday – the biggest weekly decline in a year - oil climbed back in New York.
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