Oil prices dropped more than a percent on September 7 after earlier hitting their lowest since July as Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months while optimism about demand recovery cooled amid the coronavirus pandemic. Asia is Saudi Arabia's largest market by region. … [Read more...] about 3 Point Analysis | Oil drops more than $1 after Saudi price cuts: Where is oil headed?
The US Trade and Development Agency''s (USTDA) funding will support state-owned IOC''s evaluation of technologies to capture and utilise carbon dioxide produced during refinery operations, presenting a novel and cost-effective environmental strategy that can be expanded to other refineries in India, according to a statement on Wednesday. … [Read more...] about Indian Oil gets USTDA support in its green tech endeavour
Oil prices surged to multi-week highs today amid OPEC hinted at optimism over its deal to curb oil production. WTI crude April futures were trading at $54.50 per barrel (1:30AM) and yesterday the previous month contract expired at the highest level since Jan, 3, hitting a 19-month high in intraday trade. OPEC secretary general said that January data showed that the conformity from member countries participating in the output cut had been above 90% and oil inventories would further slide this year.However, market participants are closely watching the release of inventory numbers from the US, to be released by the AMI to be followed tomorrow by government data. Bloomberg survey of eight analysts expects crude stock to rise by 3.325 million barrel at the end of this week. A stronger dollar is also putting some pressure on prices but apparently not enough to keep the current momentum of prices in check.In the days ahead, oil prices are likely to break out of their recent range and head … [Read more...] about Is Oil headed higher?
This was the first time petrol rates declined in September. With that, the price of petrol stood at Rs 81.99 per litre in the national capital. The price of diesel fell to Rs 73.05 per litre. The rate of diesel has seen four cuts in September so far in Delhi, amounting to 51 paise. … [Read more...] about Petrol, diesel prices in Delhi and Mumbai decline marginally
That signature in 2012 cost Chanda Kochhar everything she held dear. Blown to smithereens was an A-list reputation as an ace banker — something she had painstakingly built over three decades of hard work. Jeopardised were the prospects of a gracious exit from ICICI Bank, one of India’s largest. Torn asunder were chances of a lucrative career thereafter. … [Read more...] about ICICI-Videocon case: Deepak Kochhar arrested. Is Chanda Kochhar next?