Vienna - The price for oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell slightly on Tuesday, to 40 dollars, OPEC said on Wednesday.

One barrel (159 litres) of OPEC-produced crude was 0.24 dollars lower than on the previous day.

The Vienna-based cartel could decide on further production cuts at its next meeting in March to support prices, OPEC Secretary General Abdalla Salem el-Badri indicated Tuesday.

Sofia - Bulgarian Prime Minister Sergey Stanishev left Wednesday for a one-day trip to Moscow and Kiev and urgent talks about the Russian-Ukrainian gas row which has shoved much of the Balkans into a deep crisis.

In Moscow, Stanishev was due to meet both Prime Minister Vladimir Putin and President Dmitry Medvedev and the management of the Russian Gazprom, his cabinet said in Sofia.

Stanishev would then fly to Kiev, for talks with Ukrainian President Victor Yushchenko and Premier Yulia Timoshenko.

New Delhi, Jan. 14: India and Nigeria have expressed keen desire to take forward the existing cooperation between the two countries in the hydro-carbon sector.

At a bilateral meeting held in New Delhi on Tuesday with Dr. Emmanuel O. Egbogah, Adviser to the President on Petroleum matters, Additional Secretary in the Petroleum and Natural Gas Ministry S. Sundareshan informed that in the two blocks awarded to ONGC Mittal Energy Ltd. (OMEL), the company has strived to fulfill its obligations.

Brussels/Strasbourg, France  - The failure of Russia and Ukraine to deliver natural gas to the European Union despite repeated promises to do so is "unacceptable" and unjustified, the bloc's executive said Tuesday.

The European Commission believes that there is "no justification for these problems to continue" and Russia and Ukraine "have to realise that the situation is simply unacceptable," commission spokesman Johannes Laitenberger said.

The spokesman further warned that the credibility of both sides was now "on the line."

Tata Group Company Tata Power announced that it is planning set up of a geothermal power plant and a solar power plant of 5 MW each at a suitable location in Gujarat. If the plans are successful, then the renewable energy portfolio of the company would get stronger by this move.

In a filing to the Bombay Stock Exchange, the company said, “Tata Power has entered into an agreement in this regard with the Gujarat government to explore the possibility of setting up a 5 MW geothermal power plant in phase I.”

The petroleum ministry has signaled that besides freeing fuel pricing from administrative control, the government on Thursday may cut petrol, diesel and domestic LPG prices.

According to an official working in the petroleum ministry, the Cabinet, which is planed to meet on Thursday, may reduce petrol price by Rs 5 a litre, diesel by Rs 3 per litre and domestic LPG by Rs 25 per cylinder, thus, giving relief to the common man and further easing inflationary pressures.