London - Oil giant British Petroleum (BP) Tuesday reported a 62-per-c

Petronet LNG, the nation's largest liquefied natural gas importer, has registered 70.24 growth in its net profit to Rs 204.35 crore for the fourth quarter ended March 31.

The company had a net profit of Rs 120.03 crore in the same quarter ended March 2008.

Further, the company's total income also rose to Rs 2,654.88 crore in the quarter, up by 51.47% from Rs 1,752.65 crore in the previous year-ago quarter.

For the full year ended March 31, 2009, the company posted a net profit of Rs 518.44 crore, up 9.22 % as compared with Rs 474.66 crore in the last fiscal.

Crude settled up $6.11 at $51.55 on Friday, as early gains on U. S. stocks helped offset government data showing a arger-thanexpected 3.9 million-barrel build in U. S. crude stocks to a 19-year high last week.

Natural gas futures ended lower on Friday as mild weekend forecasts, growing supplies and a weak economy continued to weigh on sentiment.

The International Energy Agency (IEA), said that it can’t rule out the possibility of an oil supply shortage in 2013-14 because of slower investments in oil exploration and production by OPEC and other oil producing countries.

U. S. crude futures were steady under $50 a barrel, after finishing up the previous day as a fall in the dollar and stock market gains boosted oil prices.

Natural Gas with almost more than double built as compared to last week’s data and hit lower freeze on MCX and price remain under pressure.

Vienna - The price of oil produced by the Organization of the Petroleum Exporting Countries (OPEC) gai