According to a March 19 report from The Wall Street Journal, India approved oil exploration contracts for Oil and Natural Gas Corp. (ONGC), the nation’s biggest energy explorer, and BHP Billiton Ltd as it sought to cut dependence on imports. The South Asian nation approved the award of 33 blocks, home minister P. Chidambaram told reporters in New Delhi after a cabinet meeting.
(Source: The Wall Street Journal)
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The headline grabbing global attention is simple enough: a shipowner reportedly paid more than $5 million for a single Panama Canal transit slot.
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