It has been informed that for few months the Royal Dutch Shell, a Singapore refinery, would remain closed. It has further been revealed that after reopening the company might not be able to meet with its commitments.

In a strategic move, India's biggest gas transportation firm, GAIL (India) Ltd, has managed to sign a deal for 20% interest in Houston-based Carrizo Oil & Gas Inc.'s Eagle Shale Ford acreage, which affirms company’s first ever shale gas asset in the US.

India and China have had a recent tiff over the matter of oil in the South China Sea. China has issued a number of warnings to the ONGC from India the exploration plans that the firm was running together with Vietnam is violating the rules of the Chinese Government.

With threat of acute slump in US, the position of crude oil seems to be at a fall in the markets of Asia. With the decline in the prices of Euro, the chances of its fall increased even more, proving the analysis to come true.

Peabody Energy is quite happy with the deal in which it has overtaken Macarthur Coal Ltd. for 5.2billion dollars.

Backed by consolidated economic growth, the Chinese market is seeing a good time, as it has been reported that Chinese oil giant Sinopec has announced a 12% gain in net profit during the first six months of this year.

It has been reported that Sinopec has managed to get 41.2 billion Yuan ($6.4 billion) in the first six months from 36.8 billion Yuan the same period a year earlier.

Chinese maritime authority is reportedly ready to sue ConocoPhillips over the two oil spills that happened in June, and engulfed large swaths of Bohai Bay in north China.

Prices of crude oil increase in Asian market as a consequence of civil war in Libya. The oil prices were marked at US$86 a barrel on Tuesday, with the benchmark for oil to be delivered in October increased by $1.61 to $86.03 at the New York Mercantile Exchange.

Establishment of three phase solar plan was the main topic of discussion at the Renewable Energy India 2011 Expo (REIE), held on August 10 to 12. The project aims to install 1-2 GW by 2013, 4-10 GW from 2013-2017, and 20 GW by 2022.

According to reports, Crude-oil prospects were recorded with a recovery, which suddenly began in US, as the share market analyst declared that in their net gains, Asian share prices, gained an extensive recuperation.

However, the equity and commodity bazaar haven’t essentially nodded about the concerns, which affirmed the fact that one more recession was intimidating.