Brazilian energy acquisitions, on a steady decline after a record $57 billion deals in 2010, are showing signs of a revival, led by Chinese and Malaysian state- owned buyers seeking lower valuations for offshore oil fields.
Reliance Industries Ltd. is raising sales from the world’s biggest refining complex, helping boost profit from crude processing and beating rivals including Asia’s largest refiner China Petroleum & Chemical Corp.
Reliance Industries Ltd. , India’s largest listed company, doubled fuel exports from the world’s biggest refining complex last month as it boosted gasoline shipments to the U.S. ahead of the driving season.
Reliance Industries Ltd. and Essar Oil Ltd., operators of India’s two biggest refineries, face at least a two-year wait to profitably retail diesel, as the government prolongs the process of completely freeing prices.
The U.S. government has offered to help India get alternative supplies for Iranian crude as it looks to squeeze the Persian Gulf producer’s oil revenue, according to three people with knowledge of the matter.
A goods train rammed into derailed coaches of a passenger express in eastern India, killing at least 75 people in the country’s worst rail disaster in eight years, as officials suspected sabotage by Maoist rebels.