Crude oil has climbed up to new all-time peaks in the Asian markets.

New Delhi: Allaying the hearsay regarding increase in the kerosene and domestic Liquefied Petroleum Gas (LPG) costs, together with that of petrol and diesel in the recent year (2007), the Union Gov

Mumbai: Indian state-run explorer Oil and Natural Gas (ONGC) will expend Rs 5713 crore on the second development phase of a key field off India’s west coast.

In a declaration, the company said that the renovation would aid ONGC’s Mumbai High South field to fabricate 22 million tonnes of incremental oil.

“At current crude prices, the additional produce is valued at 530 billion rupees,” the company said.

New Delhi, Sept. 28 : Minister of Fertilizers and Chemicals and Steel Ram Vilas Paswan will release the National Policy on Petrochemicals here today.
The policy is aimed at promoting investment in upstream in downstream industries, increase production and consumption, create infrastructure and promote research and development of plastic and synthetic fibres.

Mumbai: In order to promote its subsisting refineries, Indian Oil Corp. Ltd (IOC) has decided to invest Rs 43,250 crore by 2011-12.

The India’s biggest public sector oil marketer will utilize funds primarily to increase annual refining capacity to around 80 million tonnes by the next five years.

IOC will also establish refineries and petrochemical plants, and explore for acquirements out of the country in the next five years.