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Commodities News

Overlooking pvt firms’ weak output, panel asked national oil cos to hand over 66 fields

The private companies had touched a peak of 26.8 BCM in 2010-11.

Considerable amount of cooperation from India to stop export of Venezuelan oil: US

As part of its effort to squeeze the Maduro regime, the US had asked countries, including India, across the world to stop importing oil from Venezuela or face American sanctions.

Crude oil set for biggest quarterly price rise since 2009 amid OPEC cuts, sanctions

"While OPEC, and above all Saudi Arabia, appeared in November to be obeying US President Trump's repeated demands to increase oil production, his tweets now are more likely to fall on deaf ears," Commerzbank said in a note.

Oil set for strongest quarter in a decade on OPEC cuts, sanctions

Despite the surging prices, analysts are expressing concerns about future oil demand amid worrying signs the global economy may move into a recession.

Vedanta says oil found in KG basin

In September last year, the Anil Agarwal-led company discovered gas in well A3-2 within the KG-OSN-2009/3 block.

Trump admin says Indian private companies have stopped importing oil from Venezuela

Venezuela is the third largest supplier of oil to India which is the world's third-biggest oil consumer.

India’s oil consumption rises for third month before Lok Sabha Elections

Demand for liquefied petroleum gas is also surging, with state refiners seeking to import cargoes of the cooking fuel as the government tries to keep voter morale high by ensuring rural households are well supplied.

Oil climbs on US-China trade deal hopes, OPEC’s deepening supply cuts

The rally came on reports that the United States and China are close to ending their trade disputes, which have weighed on global economic growth.

India, China sign protocol for export of Indian tobacco to Chinese market

The revival of the phytosanitary protocol with China will pave the way for revival of Indian tobacco exports to China and prove economically beneficial to Indian farmers, the statement said.

Fuel prices rise for first time in 2019, petrol at Rs 68.50 in Delhi

While the petrol price rose by 21 paisa a litre in Delhi, diesel price went up by 8 paisa.

Ghana’s first oil exploration licensing round attracts global majors

The interest is a major vote of confidence in Ghana, which is keen to unlock more resources after it began pumping from its flagship offshore Jubilee field in 2010.

Oil prices resume fall, shed most of their gains from last session

Oil prices are down more than 30 per cent from peaks seen in October.