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david sheppard

David Sheppard

Govt makes first crude oil purchase for strategic reserve

by David Sheppard |Mar 30, 2015

State-refiner Indian Oil Corp bought a 2 million barrel cargo of Iraqi crude from Chinese trader Unipec, which will load in May for shipping to the first stage of SPR on the country's east coast...

Photo: Reuters

Oil jumps 3 per cent to $63 as energy firms slash investments

by Jacob Gronholt-Pedersen |Dec 18, 2014

Brent this week dipped to its lowest since May 2009 at $58.50 a barrel due to rising production in US, weak economic growth and OPEC members' decision not to cut output.