Government approves deregulation of domestically produced crude oil

The Union Cabinet on Wednesday approved deregulation of sale of domestically produced crude oil in a bid to remove irregularities and boost revenue. Briefing the media on the decisions take by the Cabinet, minister Anurag Thakur said that the move will ensure marketing freedom for all exploration and production (E&P) companies. The provision will come … Read more

Warren Buffett’s Berkshire buys more Occidental shares, raises stake to 16.4%

Warren Buffett’s Berkshire Hathaway plowed another $44 million into Occidental Petroleum, boosting its bet on the oil-and-gas firm to about $9 billion. With the purchase of another 794,389 shares of Occidental Petroleum Corp for about $55.40 each, the conglomerate now holds nearly 16.4% stake in the Houston, Texas-based oil firm. In a regulatory filing, Berkshire … Read more