Oil prices fell on Monday afternoon to their lowest level of the year after the OPEC oil cartel and its allies affirmed plans to gradually increase crude production beginning in April. Opening the taps in countries such as Saudi Arabia and Russia, which have voluntarily throttled supply to prop up prices, increases the risk that…
PM Modi urged stakeholders to suggest ways to implement proposals in agri budget more effectively on the ground, and emphasised need to enhance production of pulses to reduce the country’s dependence on imports. He pitched for exploring new ways to promote diverse nutritional foods and asked private sector to focus on high-yielding crop seeds. Addressing…
President Donald Trump has announced plans to end the production of new pennies, citing the high cost of minting the one-cent coin. The President has directed the Treasury Department to cease minting additional pennies, emphasizing the financial burden of their production. “For far too long the United States has minted pennies which literally cost us…
Oil and gas companies in the United States are bracing for the possibility that President Trump will thrust their businesses into disarray and will drive up prices at the pump by imposing 25 percent tariffs on goods from Canada and Mexico. The United States is the world’s largest oil producer, but the country’s refineries are…
A court in Scotland blocked the production of oil and gas on Thursday at two large project sites being developed in British waters until their impact on climate change can be assessed. The decision was a blow for the sites’ developers, Shell and the Norwegian company Equinor, which have already spent or committed hundreds of…
The artificial intelligence boom has turbocharged demand for electricity, and everyone who is anyone in the U.S. energy industry wants a piece of the action. The latest entrant is Chevron, the country’s second-largest oil and gas company, which sees opportunity in building natural gas-fueled power plants that will feed energy directly to data centers. Chevron…
President Trump is swinging American energy policy sharply in favor of fossil fuels, but oil and gas companies say those changes won’t push them to engage in the frenzy of new drilling that Mr. Trump wants. The oil industry is thrilled by Mr. Trump’s executive orders, which are designed to make life harder for renewable…
NEW DELHI: In an instance of a key Chinese electronics vendor localising its production in India, Chinese telecom equipment company TP-Link has outsourced its production to local contract manufacturer Optiemus Electronics Ltd.The two companies on Monday announced a partnership that will see the Noida-based Optiemus manufacture TP-Link’s networking devices and smart home products.Under the partnership,…
NEW DELHI: The govt on Friday reduced the reserve price of rice stored with the Food Corporation of India (FCI) by Rs 550 per quintal for ethanol producers and states to boost sales and support food security measures. The decision came amid reports of FCI godowns having almost four times more than the required buffer…
For years, as oil and gas companies increased production, they hired lots of workers, enriching communities across the United States. That is no longer true. The country is pumping more oil than ever and near-record amounts of gas. But the companies that extract, transport and process these fossil fuels employ roughly 25 percent fewer workers…