1 vote
The petroleum ministry has favoured a proposal seeking Rs 1,200 crore fund infusion in state-owned Air India with the rider that the airline should clear the dues of public sector oil marketing companies. The development comes at a time when finance and home ministries have expressed their unwillingness to offer further financial support to the carrier in absence of its ability to cut cost and increase revenue as directed by a ministerial panel headed by Pranab Mukherjee. The petroleum ministry
read more »
1 vote
NEW YORK (Reuters) - Oil prices slumped to a four-week low on Wednesday as worries persisted that China would raise interest rates to cool down inflation, curbing
read more »
1 vote
Coal India s Rs 3,000-crore plan to wash 111 million tonne of coal by 2017 is heading towards an environment ministry roadblock on clearances. Deepak Khaitan-controlled CMT, which in a consortium with the Emami Group, has bagged a Rs 300-crore order to set up a coal washery, is not very hopeful that it could set up the washery in time. We are supposed to set up the washery in the BCCL area. Even if we have bagged the order, the environment clearance and the required land is not with us, Khaitan
read more »
1 vote
NEW YORK (Reuters) - Massey Energy Co, thought to be a takeover target after revealing it was mulling strategic options, is looking to make acquisitions of its own, the coal mining company's chief executive said on Wednesday.
read more »
1 vote
WILMINGTON, Del. (Reuters) - Claimants to BP Plc's $20 billion oil spill fund may soon be required to transfer to the company their right to sue other defendants, a move that could help BP's efforts to collect billions of dollars from its business partners.
read more »
1 vote
LONDON (Reuters) - Oil fell below $82 a barrel, along with falls in broader markets on Wednesday, due to renewed worries China might raise interest rates to fight inflation.
read more »
1 vote
REUTERS - The world's low carbon energy market is expected to treble in a decade, and analysts say major economies including Japan, the United States and China will be jostling for a slice of the market likely to be worth $2.2 trillion by 2020.
read more »
1 vote
BEIJING (Reuters) - Call it the Beijing two-step.
read more »
1 vote
MUMBAI (Reuters) - State-run Indian Oil Corp. has hired six banks including Bank of America-Merrill Lynch , Citigroup and ICICI Securities to handle a share sale of up to $4.3 billion, IFR reported on Wednesday.
read more »
1 vote
WILMINGTON, Del (Reuters) - A shareholder filed a lawsuit to block the proposed acquisition of Atlas Energy Inc by Chevron Corp , alleging the $3.2 billion deal was "intrinsically unfair" to shareholders.
read more »
1 vote
SINGAPORE (Reuters) - Oil hovered near early-November lows on Wednesday as speculation mounted that China will step up efforts to cool its economy, while a sharp drop in U.S. crude inventories prevented prices from sliding further.
read more »
1 vote
WASHINGTON (Reuters) - Lacking standards to weigh costs against safety, BP and its partners made critical errors leading to the largest offshore oil spill in U.S. history, according to a scientific panel report obtained by Reuters on Tuesday.
read more »
1 vote
NEW YORK (Reuters) - Oil slumped 3 percent on Tuesday to a two-week low as the dollar rose on euro zone debt concerns and as fears that China's attempts to cool inflation will reduce demand and sparked a broad commodities sell off.
read more »
1 vote
India has imported a record 9.24 million tonne of vegetable oil worth Rs 38,000 crore during 2009-10 oil year ended last month on the back of rise in per capita consumption of edible oils because of cheaper imports. The total import of vegetable oil (edible oil, non-edible oil and vanaspati) for the year 2009-10 (November 2009 to October 2010) is a record since import opened in 1994 and reported at 9.24 million tonne valued at Rs 38,000 crore, Solvent Extractors Association of India said in a s
read more »
1 vote
With activity in the primary market rebounding in October and November, thanks to the Rs 15,154 crore Coal India issue, foreign institutional investors have chosen to channel their investments into new paper. Overall, the primary market has been witnessed robust inflows from FIIs this year and cornered around 27% of equity market inflows. Of the total FII investment of $28.4 billion, about $7.7 billion have come into the primary markets, according to Sebi data. Fund raising by way of initial pu
read more »