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The Trump administration is expected to give its consent for major export of natural gas to energy-hungry India, a senior US official has said, underling that energy sector is likely to be a major area of bilateral co-operation.
Union Railway Minister Suresh Prabhu today said his Ministry has drawn up an action plan to save energy worth Rs 41,000 crore over the next ten years.
US West Texas Intermediate (WTI) crude oil futures were trading at $50.87 per barrel at 0235 GMT, down 17 cents from their last settlement.
Monday's gains take the rally since the agreement was struck on Wednesday to 18 percent for Brent, the highest in almost eight years, and 15 percent for US crude.
Natural gas price in India is likely to be hiked by 8 per cent from April 1 driven by an increase in rates in reference markets including US Henry Hub.
India's largest LNG importer Petronet has signed an agreement to set up a USD 950 million liquefied natural gas import project in Bangldesh.
"Natural gas is the next-generation fossil fuel, cheaper and less polluting," Modi said in an address at flagship energy event, Petrotech.
- Bharti Airtel sells 10.3% in Infratel for Rs 6,194 crore
- Elon Musk's new start up Neuralink aims to connect thoughts with computers
- Surat: PMGKY scheme witnesses deposits of over Rs 160 crore so far
- Indian Oil to supply fuels to Nepal for five years
- Buffalo meat exports at over Rs 21,000 cr in 10 months in FY17
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