Wellington - Big oil companies were cleared of suspicion of running an illegal anti-competitive cartel in an independent investigation into New Zealand petrol pump prices released Thursday.

The report showed that the New Zealand petrol market was "fundamentally competitive," said Commerce Minister Lianne Dalziel, who commissioned the study after angry motorists' complaints about a 30-per-cent increase in prices within five months.

The price of the most popular 91-octane petrol reached 2.18 New Zealand dollars (about 1.57 US dollars) a litre last month in New Zealand cities, a rise of 60 per cent since January 2007.

Vienna  - Austrian oil and gas group OMV reported an increase of more than 60 per cent in profits and operating earnings for the second quarter of 2008 on Wednesday, as rising oil prices offset the effects of a weak dollar.

Net profit after minority interests rose to 684 million euros (1.061 billion dollars) between April and June 2008, 66 per cent above the 411 million euros it made in the same period last year. Minorities accounted for 98 million euros.

OMV reported sales of 6.965 billion euros, up 52 per cent from the first quarter of 2007.

Vienna - Austrian oil and gas group OMV reported an increase of more than 60 per cent in profits and operating earnings for the second quarter of 2008 on Wednesday, as rising oil prices offset the effects of a weak dollar.

Net profit after minority interests rose to 684 million euros (1.061 billion dollars) between April and June 2008, 66 per cent above the 411 million euros it made in the same period last year. Minorities accounted for 98 million euros.

OMV reported sales of 6.965 billion euros, up 52 per cent from the first quarter of 2007.

Suzlon Energy, Asia's largest wind turbine manufacturer, reveals its plans to raise up to Rs 5,000 crore through issue of securities in the international and domestic market.  
 
Earlier in May, the shareholders at their annual general meeting had approved the raising of Rs 5,000 crore through issue of Foreign Currency Convertible Bonds (FCCBs), Global Depository Receipts or other securities.

Of this, the company has raised about Rs 2,183 crore by issuing over 1.13 crore shares of Rs 10 each at a premium of Rs 1,907 a piece to the Qualified Institutional Buyers.

Vienna - The price for crude oil produced by the Organization