Calling Friday’s hike in the prices of petroleum products as ‘modest’, finance minister Pranab Mukherjee expressed hope that state governments would reduce their taxes to provide relief to consumers.

The fuel price hike saw the government on Friday coming under fire from ally Trinamool Congress and political rivals BJP and Left parties which decided to hit the streets on the issue while AIADMK dem

US stocks dipped in light volume on Tuesday as oil shares' gains failed to offset lingering concerns about slow growth.

Large-cap technology positions continued to be trimmed, leading the tech-heavy

Oil prices eased off two-and-a-half-year highs to below $113 a barrel on Monday after President Barack Obama announced that al-Qaida leader Osama bid Laden had been killed.

Benchmark crude for June d

India has warned that surging oil prices could jeopardise recovery of the global economy which is already vulnerable to a variety of risks, including political and social turmoil in parts of the world

India acquired 25 per cent of the Satpayev oil block in Kazakhstan on Saturday, in a deal aimed at boosting its energy security and helping fuel fast economic growth.

India, which strongly depends on

Crude prices rose in Asian trade on Monday as Western forces staged air strikes to halt Libyan leader Muammar Gaddafi's attacks on civilians, analysts said.

New Delhi: Britain's Cairn Energy chief Bill Gammell has been racking up air miles visiting India as he tries to salvage a $9.6-billion deal to sell the firm's Indian unit to resources giant Vedanta.

New Delhi: BP's $7.2-billion deal to jump into India's oil and gas sector with Reliance Industries is the first sign of new investment that could attract more players, helping to boost output and meet

New Delhi: The government would be forced to deregulate diesel prices if global crude touches $150 to $160 a barrel, Kaushik Basu, chief economic adviser in the ministry of finance said on Thursday.