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