Petronet LNG, the nation's largest liquefied natural gas importer, on Tuesday reported 70.24% surge in its net profit for the fourth quarter ended March 31.

The company posted net profit of Rs 204.35 crore, against Rs 120.03 crore in the same quarter ended March 31, 2008.

Further, during the quarter, total operating income of the company also rose to Rs 2,654.88 crore, as against Rs 1,752.65 crore in the same quarter of the previous fiscal.

Oil prices fell for the second straight trading session by nearly 3% to $50.14 per barrel on concerns that the swine influenza may affect the travel and hospitality industry resulting in a further delay in the recovery from the global recession. Investors feared a new blow to an already fragile global economy if trade flows are curbed and manufacturing is hit.

Areva T&D India Ltd, the Indian subsidiary of AREVA France SA has posted a net profit af

London - Oil giant British Petroleum (BP) Tuesday reported a 62-per-c

Petronet LNG, the nation's largest liquefied natural gas importer, has registered 70.24 growth in its net profit to Rs 204.35 crore for the fourth quarter ended March 31.

The company had a net profit of Rs 120.03 crore in the same quarter ended March 2008.

Further, the company's total income also rose to Rs 2,654.88 crore in the quarter, up by 51.47% from Rs 1,752.65 crore in the previous year-ago quarter.

For the full year ended March 31, 2009, the company posted a net profit of Rs 518.44 crore, up 9.22 % as compared with Rs 474.66 crore in the last fiscal.

Crude settled up $6.11 at $51.55 on Friday, as early gains on U. S. stocks helped offset government data showing a arger-thanexpected 3.9 million-barrel build in U. S. crude stocks to a 19-year high last week.

Natural gas futures ended lower on Friday as mild weekend forecasts, growing supplies and a weak economy continued to weigh on sentiment.

The International Energy Agency (IEA), said that it can’t rule out the possibility of an oil supply shortage in 2013-14 because of slower investments in oil exploration and production by OPEC and other oil producing countries.