China has agreed to give $20 billion as loan to Venezuela in exchange of oil supply.

Petrochemical and engineering units of Petronas, Malaysia's national oil company will soon sell its shares to public to shrink the government's stake in industry and boost economic growth.

Oil prices came down to $85 a barrel showing a backward trend from 18-month high above $87 a barrel.

If oil prices continue to collapse, the prices of gasoline prices will also fall.

As the 13 major Indian cities will upgrade to the BS-IV norms with effect from 1st April 2010, the fuel in the respective cities is expected to get expensive.