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CAIRN eyes IPO of Indian Unit as reserves grow

Wed, 15/03/2006 - 05:17 by MT Bureau

CAIRN Energy-Europe's largest independent oil company called time on its life as the oil firm unveiled plans to float more than 90 per cent of the business on the Mumbai Stock Exchange through an init

Oil matters-pre budget scenario

Tue, 21/02/2006 - 16:47 by MT Bureau

In the international conference on Monday oil minister Murli Deora revealed that prime minister Manmohan Singh may convene his meeting with the finance minister P Chidambram for discussing a long term pricing and taxation regime for the petroleum products.

Oil Companies, Italian Banks lead European Stocks Surge

Mon, 06/02/2006 - 05:34 by MT Bureau

European shares sored to heights on Monday after France's BNP Paribas launched a $10.8-billion takeover bid for Italy's sixth biggest bank BNL, and as energy stocks gained on surging oil prices.

Oil Plummets, Creeps Below $64/Barrel

Wed, 05/10/2005 - 07:19 by MT Bureau

Finally some respite in those burgeoning oil prices breaking the back of monthly budgets. Crude oil prices slid more than $2 a barrel Tuesday in a sign that market jitters may be easing somewhat becau

Abramovich More Cash to Splash, Sells Sibneft

Thu, 29/09/2005 - 08:46 by MT Bureau

Roman Abramovich, better known as the owner of football team Chelsea better acknowledged for his laden pockets and extravagant lifestyle agreed to sell Russian oil company Sibneft for 7.36 billion pou

Oil Prices Pump As Rita Eyes Texas

Fri, 23/09/2005 - 05:36 by MT Bureau

Crude oil prices neared $68 per barrel Thursday as Hurricane Rita closed in on Texas, raising fears it could cripple major production facilities largely untouched by Hurricane Katrina three weeks ago and drive up at-home energy costs this winter.

Oil Prices Spike Amidst Storm Threats

Tue, 20/09/2005 - 20:12 by MT Bureau

After hurricane Katrina spelling doom for oil consumers all over the globe Crude-oil futures yesterday surged more than $4 -- the biggest one-day price jump ever -- amid worries that Tropical Storm Ri

26 Countries to Release Petroleum Reserves

Sat, 03/09/2005 - 20:49 by MT Bureau

26 countries including the United States have pledged to release oil, gasolene and other petroleum products from their emergency reserves to bring down soaring prices and avert domestic shortages.

White House Proposes Stricter Fuel Economy Norms

Wed, 24/08/2005 - 00:27 by MT Bureau

The Bush administration announced new fuel economy rules Tuesday that require improved mileage for the sports/utility vehicles and other light trucks that have captured a majority of U.S. auto sales.

Oil Prices Rise Toward $57 a Barrel

Fri, 01/07/2005 - 07:25 by MT Bureau

Traders shrugged off a rise in OPEC's official production ceiling Friday and took bullish positions ahead of Monday's U.S. holiday, pushing the price of crude oil close to $ 57 a barrel.

Oil Zooms Past $60 a Barrel

Tue, 28/06/2005 - 07:04 by MT Bureau

Oil prices surpassed $ 60 a barrel yesterday reflecting trader's concerns about strong demand and potential supply bottlenecks.

Oil prices "destroying" airline profitability

Tue, 31/05/2005 - 04:23 by MT Bureau

The high oil price was "destroying" the profitability of the global airline industry, which was facing losses this year of $ 6 billion, its fifth successive year of net losses, Giovanni Bisignani, director general of the International Air Transport Association (IATA) said Monday.