Commodities News

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.

Meghalaya govt sought a way around NGT ban on coal mining

At the time the NGT ban came into force, it is estimated that nearly six million tonnes of coal were being extracted annually from Meghalaya’s illegal mines.

Decline in oil output hitting consumer nations: Dharmendra Pradhan

From January 2019 onwards, Opec members will reduce production by 800,000 barrels a day and non-Opec members, including Russia, will cut output by 400,000 barrels a day from the output levels of October.

Oil edges higher after Russia indicates larger output cut

A Russian Energy Ministry source said Moscow was ready to contribute a cut of around 200,000 bpd, which is more than the 150,000 bpd sources previously said it would contribute.

Oil slides as OPEC ties supply cut to Russia; Moscow said to only back limited move

The declines came after crude slumped by almost 3% the previous day, with the OPEC ending a meeting Thursday without announcing a decision to cut crude supply.

Oil prices ease in cautious trading ahead of OPEC meeting

Since early October, crude oil has lost around 30 per cent of its value amid surging supply and fears that an economic downturn will erode fuel demand.

Govt challenges arbitration award favouring RIL in Delhi High Court

Favouring RIL-led consortium in the so-called gas migration dispute case, the three-member tribunal headed by Singapore-based arbitrator Lawrence Boo in its 2:1 award in July had rejected the government’s contention.

Only 12 out of 33 reallocated coal mines started production

Only 16 out of 33 have been given mine opening permissions as on October 24 this year, the Coal Ministry said in its note to a committee of secretaries.

Petrol price dips below Rs 74 mark, diesel wipes off all hike

Rates have been on the decline since October 18. This has wiped off all of the price hike on petrol and diesel in two months beginning August 16.

Drugs and medical devices: ‘Price cap helped patients save around Rs 15,000 crore’

According to the estimates of the National Pharmaceutical Pricing Authority (NPPA), patients across the country have saved around Rs 15,000 crore under the government’s initiative of ensuring affordable, quality medicines for all, Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya said in a statement.