Govt moves SC against allowing of higher recovery to Vedanta

The dispute arises out of the production sharing contract between Cairn India and the government over exploration of the Ravva oil fields in the shallow offshore area of the Krishna-Godavari basin on the eastern coast of India between 2000 and 2007.The company had claimed that it had to incur more cost of exploration than what…

Why Big Oil Is Investing In India

After a brief hiatus following the signing of the Phase One Trade Agreement in January, tensions between Washington and Beijing have once again reached a fever pitch. The two countries have little room to defuse tensions after U.S. President Trump announced he would end Hong Kong’s special status, saying he would sanction Chinese officials responsible…

6 PSUs now ‘fallen angels’ after India’s sovereign rating cut- Moody’s

India’s sovereign rating downgrade has created six “fallen angels”, or companies in the non-financial sector whose ratings have dipped to just one notch away from being considered junk, global ratings agency Moody’s Investors Service said on Tuesday. Companies that move from investment grade category to sub-investment grade are sometimes referred as “Fallen Angels”.All these six…

Adani says enough room to dilute 10-15 per cent stake in Adani Green Energy

After French energy major Total SA, more foreign investors have shown interest in partnering Adani group in its renewable energy business, its chairman Gautam Adani said on Tuesday. In April, Total invested around Rs 3,707 crore for 50 per cent partnership with Adani Green Energy for a joint venture that will house 2.148 gigawatts (GW)…

Oil Prices Steady As Market Awaits Clarity On OPEC+ Output Cuts

Oil prices were little changed on Thursday as investors awaited a decision from top crude producers on whether to extend record output cuts.The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, a group known as OPEC+, are debating when to hold ministerial talks to discuss a possible extension of the existing…

Diesel glut hits refiners struggling to recover from coronavirus fallout

LONDON: Brimming diesel inventories and stronger oil prices are driving down refining profits, stifling incentives to hike production even as fuel demand recovers from the coronavirus hammering.European cracks, the profit margin for producing diesel from crude, has hit an all-time low, while cracks in the US and Asia have also plummeted. With diesel accounting for…

OPEC+ may meet over oil cuts this week if laggards agree to comply

DUBAI/MOSCOW/LONDON – OPEC+ oil producers could still hold a ministerial video conference this week if Iraq and others which have not fully complied with existing supply cuts agree to boost their adherence, three OPEC+ sources told Reuters on Thursday. The Organization of the Petroleum Exporting Countries and allies led by Russia, a group known as…

Denmark should end oil and gas hunt, says government adviser

COPENHAGEN – Denmark should end all future oil and gas exploration in the North Sea, an independent adviser to the government said on Thursday, saying it would hurt Denmark’s ambition as a front-runner in the fight against climate change. Denmark has set one of the most ambitious climate change targets in the world and the…