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Oil & Gas Round Up - October 27 to 31, 2014

India Infoline News Service  | Mumbai October 31, 2014 10:45 IST

Subsidised cooking gas (LPG) rates have been increased by Rs 3 per cylinder after the government raised commission paid to dealers, according to reports. Report stated that the commission paid to dealers was hiked by Rs 3 per 14.2-kg cylinder to Rs 43.71.

Cabinet approves signing of MOU for cooperation in the field of oil and gas between India and Mozambique

India Infoline News Service  | Mumbai October 30, 2014 11:07 IST

Mozambique is strategically located near India and is ideally suited for bringing natural gas to India at market determined price

Oil India aims to bring more crude oil into India

India Infoline News Service  | Mumbai October 30, 2014 10:15 IST

OIL and ONGC Videsh have announced a 10% farm-in acquisition with Mozambique in January

Diesel & petrol prices likely to be reduced by Rs 2.50/litre

India Infoline News Service  | Mumbai October 30, 2014 08:48 IST

Report stated that this will be the sixth consecutive reduction in petrol prices since August

Subsidised LPG rate increased by Rs 3 per cylinder

India Infoline News Service  | Mumbai October 29, 2014 14:28 IST

Report stated that in Mumbai, subsidised LPG will cost Rs 452 per 14.2-kg cylinder as against Rs 448.50 previously.

ONGC spurts on future growth plans

India Infoline News Service  | Mumbai October 29, 2014 09:30 IST

The stock has gained over a per cent in opening trades.

ONGC and ONGC Videsh sign agreement with PVEP, Vietnam

India Infoline News Service  | Mumbai October 28, 2014 17:15 IST

ONGC Videsh also signed HOA with PVEP for mutual co-operation for exploration in blocks 102/10 and 106/10 of PVEP.

Moody's: S-OIL's weak 3Q results are credit negative

India Infoline News Service  | Mumbai October 28, 2014 12:23 IST

"S-OIL's continued weak operating performance will likely increase its reliance on debt for its refining business and the potential large-scale expansion of its production capacity in petrochemicals, which has been under consideration," says Mic Kang, a Moody's Vice President and Senior Analyst.

China oil demand surged 7.4% in September from year ago: Platts

India Infoline News Service  | Mumbai October 27, 2014 12:39 IST

Apparent oil demand in September was 42.34 million metric tons (mt), or an average 10.35 million barrels per day (b/d) - up 7.4% from the same month a year ago.

Falling oil prices hurt E&P, drilling and oilfield services companies: Moody's

India Infoline News Service  | Mumbai October 27, 2014 12:14 IST

Persistently lower oil prices will also hurt drilling and oil field services companies because E&P companies will reduce capital spending and demand for services.

Oil and Gas Round Up - October 20 to 22, 2014

India Infoline News Service  | Mumbai October 22, 2014 12:34 IST

The Cabinet commitee fixed the price of natural gas at $5.61 per mmbtu. The government also deregulated diesel prices.

Cairn India Q2 net profit at Rs22778.80 mn

India Infoline News Service  | Mumbai October 21, 2014 17:38 IST

Total Income has decreased from Rs. 51899.70 mn for the quarter ended September 30, 2013 to Rs. 45683.30 mn for the quarter ended September 30, 2014.

India's Diesel deregulation positive for oil companies: Fitch

India Infoline News Service  | Mumbai October 21, 2014 15:32 IST

The decision is also likely to lead to more private firms entering the diesel market in the medium term, resulting in greater competition.

Cairn India appoints Mayank Ashar as MD and CEO...stock flat

India Infoline News Service  | Mumbai October 21, 2014 14:19 IST

The appointment is subject to the approval of shareholders and other regulatory approvals, as applicable.

Reform of fuel subsidy program amid fall in global oil prices is credit positive: Moody's

India Infoline News Service  | Mumbai October 21, 2014 08:56 IST

Indian government has implemented various reforms to the fuel subsidy program, including allowing oil marketing companies to increase diesel prices incrementally, withdrawing the subsidy on diesel sold in bulk, and limiting subsidized consumption of LPG.

India's Oil And Gas reforms will improve profitability: S&P

India Infoline News Service  | Mumbai October 20, 2014 15:57 IST

Standard & Poor's Ratings Services believes these measures increase transparency in the pricing mechanism. However, any significant rise in global oil and gas prices would test the government's resolve on deregulation, considering the roll-back of such policies in thepast.

Cabinet approves new domestic gas pricing policy

India Infoline News Service  | Mumbai October 20, 2014 12:23 IST

As per the formulation approved by the CCEA, upward revision in gas prices will be approximately 75% less as compared to the price arrived at using Rangarajan formula.

Japan Trade Minister Obuchi resigns

India Infoline News Service  | Mumbai October 20, 2014 10:59 IST

Japan's trade and industry minister submitted her resignation to Prime Minister Shinzo Abe over claims she misused political funds.

Gas Natural's Debt-Funded acquisition of CGE is credit negative

India Infoline News Service  | Mumbai October 20, 2014 10:51 IST

The acquisition will cost around EUR2.6 billion, a credit negative for Gas Natural Fenosa because its leverage will increase.

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