Libya's former top oil industry official, Shokri Ghanem, has been found floating dead in the River Danube in Austria, police said on Sunday.

Ghanem, 69, had been chairman of Libya's state-owned Natio

The Punjab government on Monday announced its decision to abolish octroi on petrol and diesel in the state. This will lower prices of the fuel by up to Rs.2.

A state government spokesman said that th

PSU oil major Oil and Natural Gas Corp (ONGC) on Thursday said it has appealed the government to offset the additional cess on crude.

"Our appeal is to at least offset the additional cess burden, wh

Iran has been forced to deploy more than half its fleet of supertankers to store oil at anchorage in the Gulf as buyers of its crude cut back because of sanctions, two Iran-based shipping sources said

Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank on Tuesday said hike in rates of petroleum products is necessary to arrest fiscal slippages.

"Overall from the perspecti

US President Barack Obama gave the go-ahead for fresh sanctions against Iran's oil sector on Friday, judging there is enough oil on world markets to ensure the move will not hit US consumers.

With ju

State-owned oil companies on Saturday hiked jet fuel price by about 3 per cent, the third time they have increased rates this month.

The price of aviation turbine fuel (ATF), or jet fuel, in Delhi wa

Gold prices hit a one-week high on Monday before paring gains to trade near the previous closing price, with investors closely watching the oil and currency markets for trading cues.

Bullion prices p

Consumers may have to bear another round of price hike in auto and cooking fuels as the government is mulling a review in the wake of soaring cost of crude and pressure from state-run oil marketing co

World oil prices rose in volatile trading on Monday, as worries over Iranian supplies helped to offset a cut to China's growth outlook and weak eurozone data, traders said.

New York's main contract,