Oil buoyed by Saudi talk of extending output cuts into 2019

Mar 23 2018

Oil prices rose after the Saudi energy minister said OPEC would need to keep coordinating supply cuts with non-member countries including Russia into 2019.

Oil rises more than 1% as Saudi: production curbs could last in 2019

Mar 23 2018

Oil prices jumped more than 1 percent, Saudi plans for OPEC and Russian led production curbs introduced in 2017 to be extended into 2019 in order to tighten the market.

ADB signs $250 million loan deal for China geothermal heating

Mar 22 2018

ADB said it would provide a $250 million loan to Geothermal and Arctic Green Energy to develop clean geothermal heat in smog-prone northern China.

Oil firm on surprise US crude inventory draw, OPEC-led cuts

Mar 22 2018

Oil prices were firm, buoyed by a surprise decline in crude inventories as well as ongoing supply cuts led by OPEC, although a relentless rise in US oil output threatens

'OPEC's Barkindo hopes for oil market stability this year'

Mar 19 2018

Barkindo said he hoped a global deal to reduce oil production would help restore stability to global oil markets in the course of the year, he told Azeri TV station.

Oil prices set for weekly drop as rising supply concerns weigh

Mar 16 2018

WTI was set to fall 1.3 percent this week, reversing the previous week’s 1.3 percent gain.

Global oil demand picks up but still lags rising supply: IEA

Mar 15 2018

Global oil demand is expected to pick up more quickly this yr, but supply is still growing at a faster pace leading to a rise in inventories in Q1 of 2018, the IEA said.

Moody's Investors Service raises oil price forecast

Mar 14 2018

Moody's raised its medium-term price band for crude oil to USD 45-65 per barrel from USD 40-60 as continued OPEC-led production restraint and strong global demand growth.

Saudi to keep its Apr crude oil exports under 7 mn bpd: Ministry

Mar 14 2018

Saudi Arabia plans to keep its crude oil production in April below 10 million barrels per day (bpd), and maintain exports under 7 million bpd, the energy ministry said.

Oil prices extend gains on IEA growth forecasts

Mar 06 2018

Oil prices extended gains for the 5th straight day, underpinned by robust demand forecasts and prospects for informal contacts sought by OPEC with US shale oil producers

Indian Markets


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Stocks In News



Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively

To add platform capabilities in the insurance segment which contributes 15% of total business

The Acquisition is expected to close within the next 3 months


Sells Essar Steel loan to Deutsche Bank

Has sold its $385 mn Foreign currency loan extended to Essar Steel

Bank has taken a 38% haircut

Rs 1600 cr is expected earnings to the bank from the deal

Economic Times Reports


To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn

The co is also in discussions to sell its residential and commercial projects in Chennai

To convene shareholder’s meet on 23rd March in regard to the proposed divestment

Mint Reports


Gets Order Worth Rs 230 Cr From NTPC

To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators

Will help NTPC commission the 3x 660MW plant started 12years


Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI

The completion period for the project is 30 months

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