Iran budgets for $60 price for crude oil
Iran planned next year`s budget based on an oil price of $60 per barrel, nearly double the price from the last year, the official news agency reported on Sunday, indicating rising optimism over energy prices.

Oil prices down in Asian trade ahead of US energy report
Oil prices were down on Thursday ahead of the release of a widely monitored US energy reserves report, analysts said.

Crude oil production to go up 11%, natural gas by 53%: DGH
Reliance Industries and Cairn India will help increase nation`s crude oil output by 11 per cent and natural gas production by 53 per cent in 2009-10, oil regulator Directorate General Hydrocarbons (DGH) said on Tuesday.

Oil falls for sixth session to $77 on demand concerns
Oil prices fell for the sixth session to a three-week low of around $77 a barrel on Monday, as poor risk appetite and renewed concerns about energy demand prompted investors to sell down their positions.

IOC to pay in euro for imports via Iran ship
State-run Indian Oil Corp(IOC) has introduced a clause in its latest crude buy tender, shifting away from U.S. dollar in favour of the euro in paying for imports through Iranian vessels, oil sources said on Friday.

IOC buys 4 mn barrels W Africa crude
State-run Indian Oil Corp (IOC) bought 4 million barrels of West African crude in its tender for February or March loading cargoes, trade sources said on Thursday.

UAE`s crude production could rise 12.5% by 2014
The sustainable crude production capacity of UAE will decline marginally to 2.71 million bpd, but will climb steadily thereafter to 2.75 million bpd in 2011, 2.88 million bpd in 2012 and 2.99 million bpd in 2013.

Oil near $80, on track for strongest gain in decade
Oil rose towards USD 80 on Thursday, extending its rally to a seventh day and poised for the best annual gain in a decade, driven by a drop in US crude and fuel stocks as icy weather stoked demand.

ONGC lost Rs 9cr, 400 tonne of crude oil during strike
ONGC has lost Rs 9cr and 400 tonnes of crude oil production in last 3 days due to the ONGC bandh called by the All Assam Students Union from Monday in Upper Assam.

Crude oil prices slide below USD 76
Oil prices sank below USD 76 a barrel Friday in Asia as investors curtailed their risky bets on commodities amid uncertainty about the global fallout from Dubai`s financial troubles.