With oil consumers turning towards using biofuels to help reduce pollution and govt.'s willingness to subsidize biofuels distributing companies, crude oil prices are likely to drop to US$ 40 per barrel in near future....

Japan expects that Indonesia will soon extend its gas contract, expiring in 2011, with Tokyo, said a Japanese officer....

Indian Oil Corporation Limited (IndianOil) has successfully liquidated Rs. 806 crore worth of oil bonds maturing in 2021 and 2023 in the secondary market trade....

India agreed to pay 50% more than the initial amount it agreed to pay in June 2005 to buy five million tons of LNG from Iran....

On December 6, 2006, farmers welcomed increased commitment of the govt. for promoting renewable energy in its Pre-Budget Statement....

The national workshop on Hydro power development in the Himalayan Region concluded successfully with the Hon'ble CM of Arunachal Pradesh requesting the Planning Commission to allocate a special grant of about Rs. 8400 crores to facilitate equity...

Coal ministry in India has plans to allot 41 critical blocks of coal to public and private players, and state or center owned PSUs. This is expected to result in an increase in coal production by the end of 2006....

South Korea is interested in buying LNG (Liquefied Natural Gas) from the Browse Basin of Australia, as the fourth largest economy of Asia is competing with India and China for the supplies of energy....

Nigerian government plans to export more LNG (Liquefied Natural Gas) in order to make its presence felt in the international market....

Israel Electric Company Limited, the monopoly Government ownership company in Israel for Power Generation and Distribution has joined hands with DS Constructions Limited, India for joint bidding in 7 Ultra Mega Power Projects (4000MW each) in India....