Budapest  - Senior EU ministers, heads of state and financiers began arriving in the Hungarian capital on Monday for a high-level summit to discuss the planned Nabucco gas pipeline.

Hungary's Socialist Prime Minister Ferenc Gyurcsany said he intends to urge the European Union at the summit on Tuesday to provide financial backing to help get the Nabucco project off the ground.

Nabucco is a 3,300-kilometre gas pipeline that is planned to bring natural gas from Central Asia and the Middle East into the EU. The eight-billion-euro project is seen by the EU as a crucial step towards reducing Europe's dependence on Russian gas.

Berlin  - A new organisation promoting the development and use of renewable energies was launched Monday in the former German capital, Bonn.

The International Renewable Energy Agency (IRENA) will advise industrialised and developing nations on ways of reducing their dependency on oil, coal and gas.

Speaking at the opening event, German Environment Minister Sigmar Gabriel said the potential for renewable energies is huge, and needs more help to achieve a global breakthrough.

Vienna - The price for oil produced

Kolkata, Jan. 25 : Representatives of oil companies like Hindustan Petroleum, Bharat Petroleum and Indian Oil, along with employees of the Gas Authority of India (GAIL), members of the Petroleum Conservation Researchers' Association (PCRA) and students from several schools participated in a walkathon here today.

The walk was aimed at creating awareness regarding the need to conserve oil.

According to S K Srivastava, Regional Manager, Bharat Petroleum, oil as a natural reserve was under threat of running out across the globe.

It was, therefore. necessary to use it judiciously, he added.

London, January 24 : UC Riverside chemists have come up with a novel way to add hydrogen to natural oils to prolong the shelf life of foods, while minimizing the production of trans fats that may have adverse health effects like increased bad cholesterol levels and coronary heart diseases.

In scientific parlance, the term hydrogenation is used to describe the addition of hydrogen to natural oils.

It was recently informed by India's largest listed company, Reliance Industries Ltd that the company's quarterly earnings sank by 9.8%, which is its first drop in three years. However, the forecasts have been beaten by the company as refining margin eased less than expected.

It is being hoped by Reliance, which is India's largest petrochemical producer and refiner that the good times for the company will commence in the second half of February when it will start generating 30-40 million cubic metres of natural gas a day from its deep-sea fields off India's east coast.