Vienna  - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell by 2.91 dollars last Friday, as global oil prices were pushed down by the financial crisis, the Vienna-based cartel reported on Monday.

One barrel (159 litres) of OPEC crude stood at 86.37 dollars Friday, compared with 89.28 dollars on the previous day.

Having achieved breakthrough in the Indo-Us Nuclear Deal, State owned Oil and Natural Gas Corporation (ONGC) is all set to enter the Nuclear Sector arena.

Vienna - The price for crude oil

New York, Oct. 3: A leading Iranian nuclear envoy has suggested that his country could reconsider its uranium enrichment program if it gets cast-iron guarantees of regular international fuel supplies for its nuclear power plants.

"We are going to continue as long as there is no legally binding internationally recognized instrument for assurance of supply," said Ali Ashgar Soltanieh, the chief Iranian delegate to the International Atomic Energy Agency.

However, he declined to clarify whether that meant that Iran would halt its enrichment program in return for such international guarantees, suggesting it might have to continue at a diminished level in case the outside supply stops.

From latest developments, it has been revealed that State-owned NHPC, a hydroelectric power generating company, may delay its initial public offer (IPO) of 167 crore equity shares planned in October, due to market volatility. 

According to official sources, as the market conditions look uncertain for the IPO, so NHPC board has decided to review plan, before the launch. NHPC had earlier scheduled to hit the market between October 13-17. 

Dusseldorf - E. ON, one of Germany's biggest energy companies, said Thursday it had bought one quarter of the one of the world's greatest natural gas fields, at Yuzhno Russkoye in Russia.

The deal, which follows years of tortuous negotiations, was signed with gas monopoly Gazprom at a meeting of Russian and German government leaders on Thursday in the Russian city of St Petersburg.

Another big German company, BASF, has already bought a quarter of the same field.

E. ON controls a large part of Germany's gas and electricity supplies.