Oil prices soar past $60 in Asian trading

WORLD oil prices soared past the psychological barrier of 60 dollars in Asian trading on Monday, with the benchmark New York contract hitting a record high of 60.45 dollars a barrel.

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Indian state-run company makes record gas find

AN Indian state-run energy company has made the country's biggest gas discovery, an offshore bubble big enough to double the country's gas production, a state government minister said. The find made early this month by the Gujarat State Petroleum Corporation (GSPC) was estimated at 20 trillion cubic feet and to be worth about 50 billion dollars, said Gujarat's chief minister, Narendra Modi.

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