Free Press Journal
  • BJP can’t afford not to relent on oil prices

    The crisis on the oil front is unmistakably serious but there are redeeming features which make it look less serious than it did in 1991 when foreign exchange reserves were sufficient for only a few weeks’ imports and in 2008 in the wake of the Lehman Brothers’ collapse and the global financial crisis.

  • India may have to cough up Rs 685 billion more to repay debt

    Mumbai: The BJP government’s worries have begun to mount: On the one hand, it has slipped badly on the oil slick; on the other hand, the rupee is sliding into a deep abyss. But oil isn’t the only headache for India as the rupee slides, says wire agency Bloomberg. You can add external debt to the list.

  • Ujjain: Congress stages protest against soaring oil, gas prices

    Ujjain: During a protest organized by Congress over soaring oil prices at several place in city on Wednesday Kamal Singh Patel, Congress district rural president said, “Petrol, Diesel and LPG prices have been soaring by the day and has even broken previous benchmarks of the past several years.”

  • India’s oil import bill to jump by USD 26 billion on rupee woes

    New Delhi: India’s crude oil import bill is likely to jump by about $ 26 billion in 2018-19 as rupee’s free fall has made buying of oil from overseas even costlier. Besides, the rupee hitting a record low of 70.32 to a US dollar will also lead to a hike in the retail selling price of petrol, diesel and cooking gas.

  • Sensex recovers 196 pts on sharp fall in crude prices

    Mumbai: The Sensex today rebounded by over 196 points to close at 36,519.96 as oil, metal and PSU stocks rallied after a sharp drop in global crude oil prices. Sentiment got a boost after crude oil prices in global markets dropped by over 4 per cent yesterday owing to oversupply fears, helping the rupee to strengthen against the dollar, brokers said.

  • Can the US push oil to USD 250 a barrel?

    Last week, Artem Avinov, leading analyst with TeleTrade, predicted that oil prices could jump to $250 per barrel if the Strait of Hormuz is blocked by Iran. This was duly reported by www.rt.com (https://www.rt.com/business/432075-iran-strait-hormuz-oil-prices/).

  • Excise duty cut in oil to impact fiscal deficit badly: Moody’s

    New Delhi: Rating agency Moody’s has sounded a note of caution that any reduction in excise duty on petrol and diesel would adversely affect fiscal deficit unless it is matched by a commensurate cut in expenditure.

  • Nifty50 at 10,500 by year-end: UBS

    Mumbai : India remains a stock picker’s market in 2018, though the Nifty 50 may close the year at 10500 points, almost unchanged from last year, as earnings could be lower than consensus estimates, UBS Securities India has said.

  • Where are Crude Oil Prices headed?

    The price of crude oil has touched the $60/bbl mark, the highest since mid- 2015. Strong assurances from OPEC and Russia regarding the extension of the production cut deal has pushed oil prices above $60 per barrel, possibly bringing oil prices into a new higher range. OPEC, Russia and other oil exporting countries have pledged to hold back 1.8 million bpd in oil production in order to tighten markets until the end

  • 60 pc stake in ONGC fields to pvt cos soon

    New Delhi : Nearly 25 years after ONGC’s prime discovered oilfields were privatised, the oil ministry has identified 11 more producing oil and gas fields of the state- run firm for handing over to private firms to raise output.

  • Nifty forges ahead, touches fresh peak at 10,043

    Mumbai: The benchmark Nifty today climbed to a fresh high of 10,043 and the Sensex surged over 133 points in the opening session, underpinned by a strong dose of better-than-expected corporate earnings.

  • 50 million litres of crude stolen from largest onshore oilfield in India

    Jaipur: Police in Rajasthan have cracked a criminal syndicate accused of smuggling more than 50 million litres of crude oil inside water tankers from India’s largest onshore oilfield, an official said. The theft at the Cairn India oilfield went undetected for nearly six years until police in Rajasthan arrested 25 people this week for involvement in the sophisticated smuggling network.

  • ONGC Bassein gas field to touch record output in 2018

    New Delhi : India’s largest natural gas field Bassein in the Arabian Sea has seen a remarkable turnaround with the natural decline that had set in at the 28-year old field reversed and output slated to rise by a quarter to a record high in 2018.

  • ONGC keen to buy HPCL, may cost about Rs 42,254 cr

    New Delhi : State-owned Oil and Natural Gas Corp (ONGC) is keen to acquire India’s third-biggest fuel retailer HPCL in a Rs 42,254 crore deal after finding Bharat Petroleum Corp Ltd (BPCL) too expensive to buy.

  • Natural gas price cut to $2.48 mmBtu

    New Delhi : Natural gas price was on Friday  cut marginally to $2.48 per million British thermal unit, the fifth reduction in two years.

  • RBI likely to maintain status quo on Feb 8

    Although Banks and industry are pitching for cut in benchmark repo rate, the six-member Monetary Policy Committee (MPC) headed by RBI Governor Urjit Patel may adopt a cautious approach
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  • Protesters urge Modi to scrap Bangla power plant deal

    Dhaka : A leading pro-left civil society group here appealed to Prime Minister Narendra Modi to scrap a deal with Bangladesh for building a coal-fired power plant near the fragile Sundarbans even as UNESCO warned against the project it says threatens the world’s largest mangrove forest.