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US to overtake Saudi as crude oil producer: IEA

Paris, Jan 19 – The United States are set to overtake Saudi Arabia as the world’s number two oil producer this year, as shale companies, attracted by rising prices, ramp up drilling, the International Energy Agency said today. “This year promises to be a record-setting one for the US,” the IEA wrote in its monthly

UN Security Council imposed new restrictions on North Korea

UN Security Council imposed new sanctions on North Korea

The United Nations Security Council has imposed new restrictions on North Korea. China and Russia have also agreed on these new sanctions. The ban on coal, lead and seafood sent to North Korea will be fully banned, as well as a ban on export of textiles from North Korea has been approved.In addition, North Korea

Import Duty on crude palm oil

Hike in import duty on crude, refined palm oil by centre

Import Duty on crude palm oil  has raised to 15 per cent from 7.5 per cent and on refined to 25 per cent from 15 per cent by the government to curb cheaper shipments and boost local prices for supporting domestic farmers and refiners.The Central Board of Excise and Customs in New Delhi yesterday issued the

Crude at highest level while Gold slips

Crude oil at highest level while Gold slips

After the decline in production in US, Crude oil is trading at the highest level of two months. At present, WIT Crude was trading at $ 49.8 with an increase of 0.2 percent at Nymax.Brent Crude was up with 0.2 percent and trading at 52.6 dollars while gold is at a highest level of seven