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India tells firms to be more adventurous in oil quest NEW DELHI: India foreign minister told energy firms on Tuesday to be more adventurous in searching for oil supplies as a report warned of a likely large rise in the country's fuel import needs.Oil imports already make up 75 percent of consumption, a dependence which has caused India's current account deficit to soar and prompted a crash in the value of the rupee.Import dependence is seen rising to at least 90 percent within two decades, according to a study by global consultancy Pricewaterhouse Coopers released Tuesday."There will have to be a sense of adventure in us... and that has to come from within the Indian psyche," Foreign Minister Salman Khurshid told an energy conference.Khurshid said he had recently visited conflict-racked Iraq and Saudi Arabia to push energy ties and found "nothing stood between them and our opportunities" except "our unwillingness to be a little adventurous".India in 2012 was the world's ...


Oil twitches higher on Middle East nerves LONDON: Oil futures gained on Tuesday after an Israeli missile test in the Mediterranean jangled traders' nerves on edge over any wider conflict in the region threatening already stretched supplies.Brent crude was up 79 cents at $115.12 a barrel at 1053 GMT. US oil fell 42 cents to $107.23 from Friday's settlement, as due to the Labor Day holiday there was no Monday settlement for the US benchmark.Brent rose by more than $1 per barrel ...

UK spot gas slips lower as weather saps demand LONDON: British prompt gas prices fell on Tuesday on rising supply confidence and expectations that warm weather is due to further erode demand, while forward contracts firmed on stronger crude oil prices.Gas prices for instant delivery fell 0.15 pence to 64.95 pence per therm at 1000 GMT Tuesday, while Wednesday gas also traded 0.15 pence lower, at 64.55 pence.The drop reflects a rise in temperatures on Tuesday and Wednesday which is depressing already low summer ...

Oil prices dip in Asia as Syria fears subside SINGAPORE: Oil prices eased in Asian trade Tuesday on receding fears of an immediate US intervention in Syria but upbeat global economic data capped losses, analysts said.New York's main contract, West Texas Intermediate for delivery in October, was down 93 cents at $106.72 in afternoon trade, while Brent North Sea crude for October dipped 12 cents to $114.21."Concerns that Syria might retaliate when the US eventually strikes have already been priced in by investors," Kelly ...

Oil ekes gain, reversing early rout on easing Syria risk LONDON/NEW YORK: Benchmark Brent crude oil prices eked out a small gain on Monday, reversing a deep early slide amid upbeat economic data, North Sea output woes and a new French report on Syria's use of chemical weapons.Oil had fallen by more than $2 a barrel in opening trade after US President Barack Obama said at the weekend that he will seek congressional authorisation for punitive military action against Syria, almost certainly pushing back any ...

Libya oil production slumps to 'below 100,000 bpd' TRIPOLI: A weeks-long blockade by guards at key Libyan oil terminals has sent production plunging to under 100,000 barrels per day in a major blow to the economy, an official said Monday.Guards, mostly ex-rebels who helped topple veteran strongman Moamer Kadhafi in a 2011 uprising, have been on strike since late July and imposed a blockade on oil terminals.They accuse the authorities of corruption by selling crude in excess of documented cargo, while the government ...

Oil drops as Obama seeks Congress approval on Syria LONDON: Oil prices fell on Monday after US President Barack Obama said he would seek approval from lawmakers for military action against Syria, easing prospects of an imminent strike, analysts said.Losses were capped by news of upbeat economic data in China, which is the world's biggest consumer of energy.New York's main contract, West Texas Intermediate (WTI) for delivery in October, shed 41 cents to $107.24 per barrel.Brent North Sea crude oil for October dropped 44 ...


 



 
Index Closing Chg%
Arrow DJIA 17,195.42 1.30
Arrow Nasdaq 4,566.14 0.37
Arrow S&P 1,994.65 0.62
Arrow FTSE 6,463.55 0.15
Arrow DAX 9,114.84 0.35
Arrow CAC-40 4,141.24 0.74
Arrow Nikkei 15,658.00 1.67
Arrow H.Seng 23,702.04 1.49
Arrow Sensex 27,346.33 0.92





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln