Government's fuel subsidy estimate was based on crude oil at $70.
The company had assets in countries like Yemen, Peru, Oman, Myanmar, Columbia, East Timor, Kurdistan and Australia, but it exited almost all these blocks later as part of its portfolio rationalisation
Soft oil prices are expected to persist in 2015 and will be accompanied by significant real income shifts from oil-exporting to oil-importing countries.
India is the world's fourth-largest importer of natural gas, accounting for six per cent of the global market.
North Dakota is now the second-largest oil-producing state after Texas.
'As matters stand, Russia and Saudi Arabia, two of the world's biggest oil producers, are set for a hard landing as they didn't diversify their economies as much as they should have when the oil prices were booming.'
The drop in oil to around $50 a barrel this year has triggered steep cutbacks in production of US shale oil
Economics and politics both have major roles in determining oil prices.
This means lower losses on fuel sales by Indian oil companies and a shrinking oil subsidy bill for the government.
The low global crude prices have helped narrow the current account deficit to just 0.2 per cent of GDP in the previous January-March quarter.
Low fuel prices to help oil marketing and refining sectors but upstream players will stay under pressure.
On the White House website, his staff post a variety of proposals ranging from an "American First Foreign Policy" to killing former President Obama's climate action plan with agenda largely echoing his campaign website.
Obama said he wants to boost the use of natural gas in transportation
He threatened to levy 35% tax on companies shifting jobs outside the US, if elected
Plenty of other factors are likely to keep a lid on prices.
Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
Any government aid to the airline will ultimately hurt the economy
Long-term trends at work in the oil market mean it could stay depressed.
Lines up a $1-billion capital expenditure plan for exploration purposes abroad.
Making sense of the international crude market is incredibly hard.
RIL, according to Goldman, offers the best downstream exposure in the Asian oil sector with its high quality asset base, diversified product portfolio, efficient management of inventory valuation swings and ability to fund large organic expansionary capex without taking on debt.
Despite the recovery to above $40 levels after hitting $28-29 in Jan, worries of over-supply in the face of weak demand remain.
From February to mid-March, oil prices receded rapidly.
2014 was a year for downturn for most economies across the globe.
The pricing and marketing freedom for exploitation would be capped by a ceiling price.
22 companies won bids for the 31 contracts on offer; 15 were new entrants to the oil and gas business. Three years on, none of them have started production.
Traders have all but given up attempting to predict where the new-year rout will end
Just as very high oil prices looked an anomaly in a sluggish world, so now do record high equities.
These 7 blocks are adding exploration acreage of 18,510 square kilometres spread over three sedimentary basins of India and have a resource potential of approximately 33 billion barrels of oil and oil equivalent gas.
RIL and PEMEX will also share expertise and skills in the relevant areas of oil and gas industry, including for deep-water oil and gas exploration and production.
With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month.
Reliance Industries has divested its 30 per cent stake in an oil and gas block in Peru to Australia's Woodside Petroleum and Pluspetrol of Argentina to trim its overseas properties.
Reliance has also entered into an agreement with Pioneers existing partner in the Eagle Ford Shale play for about $210 million.
The over-recovery on diesel for such companies reached Rs 3.56 a litre for the first fortnight of October.
The IOC share sale is the fourth disinvestment this fiscal but the biggest in 2015-16 so far.
With foreign investment almost drying up in India's oil and gas sector, Petroleum Minister Dharmendra Pradhan has promised an overhaul to make policies predictable, transparent and fair to investors.
'China's economy continues to slow and the US Fed may still hike rates before the end of the year.'
Unless there is a sharp uptick in oil prices, Fed may push back rate hike
In the current fiscal so far, retail inflation stabilised around 5 per cent, while wholesale price-based inflation averaged around 2.9 per cent during April-December.
Given that India will get a huge part of its oil supplies from Iran through its government-owned oil PSUs, any unwelcome shocks in global crude rates could be absorbed well enough.
