Author Archives: ongcvidesh

Oil stayed close to a six-week low below $74 a barrel on Monday as bulging US inventories and a lack of hurricane activity in the Gulf of Mexico countered aweaker dollar. The market gained support from the weaker dollar, which makes oil cheaper for holders of other currencies, and from a firmer start to trading […]

Oil India (OIL), the stateowned Navratna oil and gas production company, has achieved a record production level of 10,000 tonnes aday. The company, which produces most of its oil from its Assam oilfields, has been producing 10,000 tonnes daily since mid-August. The company witnessed a dip of 9.52 per cent at 0.798 million tonnes (mt) […]

Afghanistan’s mining ministry has announced that a new oil deposit with an estimated 1.8 billion barrels of crude had been discovered in the relatively peaceful north of the war-torn country. “It’s a totally new oil deposit, in a triangle between Balkh, Hairatan and huburghan“, ministry spokesman Jawad Omar said. Further assessments would be done by […]