U.S. government investigation concludes final report on massive Gulf of Mexico oil spill disaster that killed 11 workers. BOEMRE’s JIT (Joint Investigation Team) found BP (British Petroleum) actions contributed to the Macondo well and operations [...]
Oil
Shell oil is struggling to control the biggest oil spill in British seas since 2000. Reminiscent of BP’s efforts to stop the oil rig leak in the gulf, the oil mega giant is trying to [...]
India today offered a 10 percent stake of Petronet LNG to Qatar with a view to obtain 18 more LNG cargoes this year and to make the world’s largest LNG exporter agree on long-term supply [...]
Indian Oil Corporation has sought discounts from energy major Cairn for buying its crude output from Rajasthan. The demands are based on the fact the said crude is waxy and heavy than normal crude that [...]
Oil prices are continuously facing a downturn as the fears of worldwide recession are hitting the demand of energy products quite boorishly. Yesterday the price of crude oil per barrel dropped to $67 mark in [...]
Despite of a record supply cut agreement by OPEC (Organization of Petroleum Exporting Countries) to bring some momentum in the slumping demand, the crude oil price dropped more than 9 percent and was trading at [...]
It seems that the steeps cuts made by Opec is finally making some impact with Oil prices firming up after reaching record low levels. In a series of cuts the ministers of Oil producing countries [...]
The UPA government wishes to put a limit on profits earned by Oil producers, the ones to suffer are ONGC (Oil and Natural Gas Corporation), RIL (Reliance Industries), OI (Oil India) and Cairn India. The [...]
As informed by IOC (Indian Oil Corporation) Director Refineries, BN Bankapur on Wednesday, the company might decide to buy about 1.5 million tonnes of crude oil from Cairn India, on daily basis. This will be [...]
Oil rates moved beyond $41 per barrel after OPEC (Organization of Petroleum Exporting Countries) hinted at a further decrease in fuel cuts. This is OPEC’s attempt to give fuel prices a thrust. OPEC’s President informed [...]
