Govt "relieved" over dip in oil prices
Oil Minister S. Jaipal Reddy on Friday said the government was relieved to witness a drop in global crude oil prices, however, the falling value of the Indian rupee remained a matter of severe concern
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Saudi Arabia reopens oil pipeline with Iraq to counter Iran Hormuz threat:
Saudi Arabia has reopened an old oil pipeline built by Iraq on Thursday to bypass Gulf shipping lanes, giving Riyadh scope to export more of its crude from Red Sea terminals incase Iran try to block the Strait of Hormuz, industry sources told Reuters. Ref. Source 3
US exempts China from Iran oil sanctions
The Obama administration has cleared China of possible U.S. sanctions after determining that the county has significantly reduced its oil purchases from Iran.
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Pressure ramped up on Iran by US Treasury
WASHINGTON Ramping up pressure on Iran over its controversial nuclear program, the US identified Tehran's main tanker firm and dozens of its vessels as government-controlled entities and slapped ...
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Algal oil answer to dwindling fuel reserves
Algal oils could be a sustainable solution to dwindling fuel reserves, says a researcher. Roger Huerlimann, doctoral student at the James Cook University, Townsville, said microalgae, tiny aquatic ...
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Shells Profits Hit as Global Fuel Prices Fall
Investors ignored the old adage "Never sell Shell" after the Anglo-Dutch oil supermajor disappointed with its quarterly profits. Lower oil prices and shut-downs in the Gulf of Mexico and ...
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Gas prices up
After dipping to $3.33 a gallon and flirting with $3 in the South, the nation's average gas price climbed 17 cents over 26 consecutive days in July. It was the first monthly gain since March and the biggest July jump since at least 2000, AAA said Tuesday. Ref. Source 9
Gas prices up
After dipping to $3.33 a gallon and flirting with $3 in the South, the nation's average gas price climbed 17 cents over 26 consecutive days in July. It was the first monthly gain since March and the biggest July jump since at least 2000, AAA said Tuesday. Ref. Source 3