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Oil & Natural Gas

Oil dips in Asian trade

Oil dipped in Asian trade on Wednesday as investors locked in profits from a price rally overnight and on continued concerns over the global economic rebound. New York’s main contract, light sweet crude for September delivery, was down 17 cents to USD 75.60 a barrel in morning trade. Brent North Sea crude for delivery in […]

Oil & Natural Gas

Oil settles lower a third day on jobs slump

NEW YORK – Crude oil prices fell a third straight day on Friday, weighed down by a weak U.S. jobs report that also pulled Wall Street lower. But the dollar’s broad slump and weakness against the euro tempered oil’s losses, and prices managed to settle above $80 a barrel, a higher finish versus a week […]

Oil & Natural Gas

Oil pushes above USD 79 as Asian stocks gain

Oil prices rose above USD 79 a barrel in Asia on Monday as a regional stock market rally gave crude traders optimism, Benchmark crude for September delivery was up 18 cents to USD 79.13 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract added 59 cents to […]

Industry Oil & Natural Gas

ONGC to invest $4.05 bn on harnessing gas from UD-1

State-owned Oil and Natural Gas Corp (ONGC) plans to invest USD 4.05 billion in producing natural gas from its ultra deepsea UD-1 discovery in a block that sits next to Reliance Industries’ prolific KG-D6 fields. “We have tentatively planned a capital expenditure of USD 2.31 billion in producing gas from UD-1 discovery in block KG-DWN-98/2 […]