India expects fuel demand to grow 4.7% in the next fiscal year
1 year, 10 months ago

India expects fuel demand to grow 4.7% in the next fiscal year

The Hindu  

India's fuel demand is likely to grow 4.7% in the next fiscal year beginning on April 1, initial government estimates showed. Fuel consumption in 2023-24, a proxy for oil demand, could rise to 233.8 million tonnes from the revised estimate of 222.9 million tonnes for the current fiscal year ending in March, according to government forecasts. Domestic demand for petrol, used mainly in passenger vehicles, is expected to rise by 7.1% to 37.8 million tonnes, while diesel consumption was seen growing by about 4.2% to 90.6 million tonnes, the data showed. Consumption of aviation fuel would likely increase by 14% to 8.6 million tonnes, compared with the revised estimate of 7.4 million tonnes for the year ending March 2023.

India Fuel Demand Million Tonnes Fuel Demand  india  petroleum  grow  tonnes  expects  revised  fiscal  ppac  million  petrol  demand  rise  used  fuel  47

History of this topic

Petrol, Diesel Consumption Surge in November as Festive Season Boosts Demand
3 weeks, 1 day ago

Petrol, Diesel Consumption Surge in November as Festive Season Boosts Demand

Deccan Chronicle  

New Delhi: Oil marketing companies have revealed that India's petrol and diesel consumption soared in November as the festive season reversed a fall in demand witnessed in previous months. Petrol sales of three state-owned firms, which control 90 per cent of the fuel market, soared 8.3 per cent to 3.1 million tonnes in November compared to 2.86 million tonnes of …

Petroleum demand forecast to peak by 2029
1 month ago

Petroleum demand forecast to peak by 2029

China Daily  

Sinopec employees check CCUS equipment operations in Dongying, Shandong province. Amily Guo, the China refining and chemicals analyst at UBS Securities, said factors influencing petroleum demand in China include the rapid rise of electric vehicles, liquefied natural gas powered heavy trucks, and the adoption of new energy sources like hydrogen. "In summary, considering the varied growth trends of different petroleum …

Petroleum demand forecast to peak by 2029
Trending News
1 month ago

Petroleum demand forecast to peak by 2029

China Daily  

Financial services provider UBS Securities recently predicted a peak in Chinese petroleum demand by 2029 and negative growth after 2030. Amily Guo, the China refining and chemicals analyst at UBS Securities, said factors influencing petroleum demand in China include the rapid rise of electric vehicles, liquefied natural gas powered heavy trucks, and the adoption of new energy sources like hydrogen. …

India’s veg oil imports seen lower in 2024-25, industry group says
1 month, 2 weeks ago

India’s veg oil imports seen lower in 2024-25, industry group says

Live Mint  

India's vegetable oil imports are estimated to decline further in the 2024-25 season to 15 million metric tons, as favourable weather will likely boost domestic production, an industry group said. India, the world's biggest vegetable oils importer, is estimated to have imported 16 million tons in the 2023-24 season that ended in October, said B V Mehta, executive director of …

Oil India Q2 Results Live: Profit Rise by 379.29% YOY
1 month, 2 weeks ago

Oil India Q2 Results Live: Profit Rise by 379.29% YOY

Live Mint  

Oil India Q2 Results Live : Oil India has reported its Q2 results for the fiscal year 2024, announcing a remarkable profit increase of 379.29% year-on-year. Over the past week, Oil India has seen a return of 3.37%, with a notable 16.77% return over the last six months, and an outstanding year-to-date return of 99.76%. As Oil India continues to …

Fuel Prices In Delhi, October 16: Remain Stable With Petrol At Rs 94.72 & Diesel Priced At Rs 87.62
2 months, 1 week ago

Fuel Prices In Delhi, October 16: Remain Stable With Petrol At Rs 94.72 & Diesel Priced At Rs 87.62

ABP News  

As of today, the fuel prices in Delhi remain relatively stable, with minor fluctuations due to global crude oil prices and other factors like supply chain dynamics. Fuel prices in India are revised daily based on the 15-day average of global oil prices, which is a dynamic pricing model. Despite the global fluctuations in oil supply and demand, especially due …

Oil refiners likely to add 35-40 mt capacity spending Rs 2 tln by FY30
2 months, 3 weeks ago

Oil refiners likely to add 35-40 mt capacity spending Rs 2 tln by FY30

New Indian Express  

MUMBAI: Oil marketing companies are likely to add 35-40 million tonnes of crude oil refining capacity and take the installed base to 295 mt by fiscal 2030 to meet the rising consumption forecast as the current capacities are already being optimally utilized at 100-103 percent. Within transport fuels, diesel grew 3 percent; petrol grew 8 percent, and jet fuel grew …

India’s coal imports rise to 90.5 MT amid surge in power demand
2 months, 4 weeks ago

India’s coal imports rise to 90.5 MT amid surge in power demand

Live Mint  

New Delhi: India's coal imports during the April-July period of the current fiscal increased 0.9% to reach 90.51 million tonnes compared with 89.68mt in same period last fiscal, the coal ministry said on Wednesday. "This decline underscores India’s steadfast commitment to achieving self-sufficiency in coal production and reducing reliance on imports," it said, adding that coal imports by the non-regulated …

India’s petroleum exports plunge in first five months of FY25 on lower demand, supply disruption
3 months ago

India’s petroleum exports plunge in first five months of FY25 on lower demand, supply disruption

Live Mint  

New Delhi: India's petroleum exports saw a steep decline during the first five months of fiscal year 2025 due to lower demand from key markets and disruptions along the supply route, especially in the Red Sea region. "The drop in India's petroleum exports in the last three months was mostly due to the Red Sea issue, which led to higher …

India’s core sector growth increases by 6.1 per cent in July 2024
3 months, 3 weeks ago

India’s core sector growth increases by 6.1 per cent in July 2024

India TV News  

India’s core sector, comprising industries such as coal, electricity, steel, and cement, posted a 6.1 per cent growth in July after having slowed to 4 per cent in June, according to data released by the Commerce Ministry today. Its cumulative index increased by 1.6 per cent during April to July, 2024-25 over corresponding period of the previous year. Its cumulative …

India plans to raise vegetable oils import taxes, government sources say
3 months, 3 weeks ago

India plans to raise vegetable oils import taxes, government sources say

Hindustan Times  

By Rajendra Jadhav and Mayank Bhardwaj India plans to raise vegetable oils import taxes, government sources say MUMBAI -India is considering an increase in import taxes on vegetable oils to help protect farmers reeling from lower oilseed prices, two government sources said on Wednesday. Increasing import taxes is one of the options," said a government source, who asked not to …

India plans to raise vegetable oils import taxes, government sources say
3 months, 3 weeks ago

India plans to raise vegetable oils import taxes, government sources say

Hindustan Times  

By Rajendra Jadhav and Mayank Bhardwaj India plans to raise vegetable oils import taxes, government sources say MUMBAI, - India is considering an increase in import taxes on vegetable oils to help protect farmers reeling from lower oilseed prices, two government sources said on Wednesday. Increasing import taxes is one of the options," said a government source, who asked not …

At 4%, India's core sector growth slowest in 20 months: Govt data
4 months, 3 weeks ago

At 4%, India's core sector growth slowest in 20 months: Govt data

Business Standard  

Electricity generation saw a 7.7 per cent increase, which was lower than the 13.7 per cent growth in May but higher than the 4.2 per cent growth in June 2023. “With the onset of the monsoon, electricity growth reverted to single digits after two months, although it remained healthy at 7.7 per cent. Given the dip in core sector growth, …

Coal to have significant place in India’s diversified energy basket: Eco Survey
5 months ago

Coal to have significant place in India’s diversified energy basket: Eco Survey

Hindustan Times  

India will target a diversified set of sources for energy security with a significant place for thermal power, including coal to provide base load, to minimise risks associated with systems while pursuing low-emission pathways in line with national commitments, said the 2023-24 Economic Survey Union finance minister Nirmala Sitharaman tabled in Parliament on Monday. “This will also include a significant …

India's coal dependence for power to be highest in nine years as heatwaves intensify
6 months ago

India's coal dependence for power to be highest in nine years as heatwaves intensify

Hindustan Times  

India will use more coal for generating electricity this year than it has in almost a decade, to cope with surging electricity demand, Bloomberg reported. Representational The country expects to add 15.4 gigawatts in the financial year 2024-25, the most in nine years, people familiar with the matter told Bloomberg. Coal still generates about three-quarters of India’s electricity, and the …

Karnataka hikes petrol and diesel prices by ₹3 per litre. Check new rate, other details
6 months, 1 week ago

Karnataka hikes petrol and diesel prices by ₹3 per litre. Check new rate, other details

Live Mint  

Petrol and diesel prices are likely to go up by ₹3 and ₹3.05 approximately in Karnataka as the state government decided to increase taxes on June 15, according to the Petroleum Dealers Association {{^adFree}} {{/adFree}} According to the notification, the sales tax on petrol has been increased from 25.92 percent to 29.84 percent, while the tax on diesel has risen …

India's industrial output's year-on-year growth increases to 5% in April 2024
6 months, 1 week ago

India's industrial output's year-on-year growth increases to 5% in April 2024

Hindustan Times  

The Index of Industrial Production grew by 5% for April 2024, compared to 4.6% growth during the same month of the previous year. IIP tracks activity in manufacturing, mining, and electricity generation IIP shows the performance of the industrial sector. The IIP figure for April 2024 stood at 147.7 compared to 140.7 in the same month last year, according to …

Scorching heat drives India's gas-fired power use to multi-year highs in May
6 months, 2 weeks ago

Scorching heat drives India's gas-fired power use to multi-year highs in May

Hindustan Times  

By Sudarshan Varadhan and Sarita Chaganti Singh Scorching heat drives India's gas-fired power use to multi-year highs in May NEW DELHI - Sweltering heat and policy measures are fuelling a surge in the use of gas-fired power in India, with imports of liquefied natural gas forecast to rise sharply over the next two years, industry officials and experts say. An …

India's crude oil imports soar 7% YoY in April, net oil & gas import bill hits $12.3 billion-mark: PPAC
7 months ago

India's crude oil imports soar 7% YoY in April, net oil & gas import bill hits $12.3 billion-mark: PPAC

Live Mint  

India's crude oil imports increased by seven per cent year-on-year in April 2024 and the net import bill for oil and gas hit $12.3 billion, compared to $10.1 billion in the corresponding period last year. India's domestic crude oil production stood at 2.4 million metric tonnes in April 2024 - registering a growth of 1.6 per cent compared to the …

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today
7 months, 1 week ago

India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today

Live Mint  

India has cut the windfall tax on petroleum crude to ₹5,700 per metric ton from ₹8,400 with effect from May 16, Reuters reported. Windfall Tax Movements The tax is revised every two weeks, and was similarly cut on May 1, only for petroleum crude to ₹8,400 a metric ton from ₹9,600. In April 2024, the windfall tax on petroleum crude …

Petrol sales up 12.3%; diesel slides 2.3% in April 2024
7 months, 3 weeks ago

Petrol sales up 12.3%; diesel slides 2.3% in April 2024

The Hindu  

India's petrol consumption soared 12.3% in April, but diesel sales continued to slide despite the country entering into hectic electioneering for general elections, preliminary data of state-owned firms showed on May 01. Petrol sales of three state-owned firms, which control 90% of the fuel market, rose to 2.97 million tonnes in April compared to 2.65 million tonnes of consumption in …

India's crude oil consumption up 4.6% in FY24, output rises marginally at 0.6%, imports steady: PPAC
8 months ago

India's crude oil consumption up 4.6% in FY24, output rises marginally at 0.6%, imports steady: PPAC

Live Mint  

India's total consumption of crude oil or petroleum products rose 4.6 pent in fiscal 2023-24 to 233.3 million metric tonne, while domestic production of crude oil rose marginally at 0.6 per cent. But the world's third largest oil importing and consuming nation paid $132.4 billion for the imports in FY24 as against $157.5 billion import bill in 2022-23, so crude …

India's crude oil import bill drops 16% in FY24, import dependence soars to 87%
8 months ago

India's crude oil import bill drops 16% in FY24, import dependence soars to 87%

Live Mint  

India's crude oil import dropped 16 per cent in the fiscal year ended March 31 as lower international rates but the dependency on overseas suppliers rose to a new high, official data showed. {{^adFree}} {{/adFree}} But it paid USD 132.4 billion for the imports in FY24 as against USD 157.5 billion import bill in 2022-23, oil ministry's Petroleum Planning and …

India's Petrol Consumption Rises 7% Amid Summer Season, Diesel Demand Declines
8 months, 1 week ago

India's Petrol Consumption Rises 7% Amid Summer Season, Diesel Demand Declines

Deccan Chronicle  

New Delhi: With the onset of summer season, fuel demand is likely to go up as India’s petrol consumption surged 7 per cent in the first half of April, but diesel sales were down by 9.5 per cent. Diesel demand too was down 2.7 per cent month-on-month when compared to 3.22 million tonnes in the first half of March,” the …

Gas price for Reliance trimmed to $9.87; rate for gas that feeds CNG, PNG supplies still at $6.5
8 months, 3 weeks ago

Gas price for Reliance trimmed to $9.87; rate for gas that feeds CNG, PNG supplies still at $6.5

The Hindu  

The government on March 31 cut the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to $9.87 per million British thermal unit in line with softening of benchmark international gas prices, an official notification said. For the six-month period starting April 1, the price of gas from deepsea and high-pressure, high-temperature …

India's crude oil output rises 7.9% to 2.3 MMT in February, imports decline 6.6% YoY: PPAC
9 months ago

India's crude oil output rises 7.9% to 2.3 MMT in February, imports decline 6.6% YoY: PPAC

Live Mint  

India produced a total of 2.3 million metric tonnes of crude oil in February 2024 - registering a growth of 7.9 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports decreased by 6.6 per cent and increased by 0.4 per cent during February 2-24 and April-February 2024 respectively, compared to the corresponding …

India's crude oil output up 0.7% to 2.5 MMT in January, imports rise 5.7% YoY: PPAC
10 months ago

India's crude oil output up 0.7% to 2.5 MMT in January, imports rise 5.7% YoY: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in January 2024 - registering a growth of 0.7 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports increased by 5.7 per cent and 0.9 per cent during January 2024 and April-January 2023-24 respectively, compared to the corresponding period of …

India oil product demand up 8.2% in January, says report
10 months, 1 week ago

India oil product demand up 8.2% in January, says report

Live Mint  

New Delhi: India's demand for oil products saw a significant increase of 398,000 barrels per day, or 8.2%, year-on-year in January, according to a report by S&P Global Commodity Insights. LPG and gasoline demand saw the highest growth in January, driven by increased heating needs during the winter and a rise in mobility following year-end holidays, respectively. In January, jet …

India’s petrochemical exports to face tough global competition: IEA official
10 months, 2 weeks ago

India’s petrochemical exports to face tough global competition: IEA official

Live Mint  

As India plans to boost its oil refining and petrochemicals capacity, its petrochemical exports are expected to face tough competition globally with increasing Chinese capacity already creating pressure in the global markets, said Toril Bosoni, head of oil industry and markets division, International Energy Agency. In its report, the IEA said that India's oil demand will reach 1.2 million barrels …

Large part of ₹11 trillion capex for FY25 to flow into energy sector: PM Modi
10 months, 2 weeks ago

Large part of ₹11 trillion capex for FY25 to flow into energy sector: PM Modi

Live Mint  

Goa: The Centre will allocate a substantial part of the budgeted capital expenditure for fiscal year 2024-25 to the energy sector, as the country strives to meet rapidly growing demand and achieve climate goals, Prime Minister Narendra Modi said on Tuesday. India's energy demand is projected to double by 2045, placing the country at the helm of shaping global energy …

India's gas demand to rise 6% in 2024: International Energy Association
10 months, 3 weeks ago

India's gas demand to rise 6% in 2024: International Energy Association

India TV News  

India's natural gas demand is expected to rise by 6 percent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency. Following the 7 percent year-on-year decline observed in 2022, India's primary gas supply rose by 5 per cent in 2023, with growth primarily driven by the petrochemical, power …

India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC
11 months ago

India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC

Live Mint  

Crude oil imports increased by 1.1 per cent and 0.4 per cent during December 2023 and April-December 2023 respectively, compared to the corresponding period of the previous year. The cumulative natural gas consumption for the current financial year till December 2023 stood at 49,540 MMSCM, which was higher by 9.4 per cent compared with the corresponding period of the previous …

Coal power generation up 10.13% during April to December 2023
11 months ago

Coal power generation up 10.13% during April to December 2023

New Indian Express  

NEW DELHI: The country’s coal-fired power generation showed significant growth of nearly 10.13% from April to December 2023 compared to the corresponding period of the previous year. As per the coal ministry, the domestic coal-based power generation from April to December 2023 rose by 7.14% to 872 billion units, up from 813.9 BU generated in the corresponding period last year. …

India's LNG imports set for 7 to 8 per cent growth in 2024
11 months, 3 weeks ago

India's LNG imports set for 7 to 8 per cent growth in 2024

Firstpost  

India is expected to see a significant rise in liquefied natural gas imports in 2024, with estimates indicating a substantial 7-8 per cent year-on-year increase. Agarwal said, “India’s LNG imports will continue to increase, with an expected 8 per cent year-on-year growth in 2024. That should change in 2024 because of the LNG price weakness”.Regasified LNG consumption by the power …

India's crude oil output down 0.4% to 2.4 MMT in November, imports decrease 2.3% YoY: PPAC
1 year ago

India's crude oil output down 0.4% to 2.4 MMT in November, imports decrease 2.3% YoY: PPAC

Live Mint  

India produced a total of 2.4 million metric tonnes of crude oil in November 2023 - registering a de growth of 0.4 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports decreased by 2.3 per cent and increased by 0.4 per cent during November 2023 and April-November 2023 respectively, compared to the …

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC
1 year, 1 month ago

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in October 2023 - registering a growth of 1.3 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. According to PPAC data, crude oil imports increased by 2.2 per cent and by 0.6 per cent during October 2023 and April-October 2023 respectively, compared …

India’s Energy Endgame in an Era of Peak Fossil Fuels
1 year, 1 month ago

India’s Energy Endgame in an Era of Peak Fossil Fuels

The Quint  

Here, we would need to be time-wise granular, differentiating between short to medium and long terms, In the first phase, the global consumption of fossil energy sources may keep growing, albeit, at a slowing velocity and geopolitical risks may disrupt. In a decade, hopefully, these trends will settle down and fossil energy consumption may peak and start declining concomitantly bringing …

India tells OPEC it must be sensitive to needs of oil consuming nations
1 year, 2 months ago

India tells OPEC it must be sensitive to needs of oil consuming nations

Live Mint  

New Delhi: With oil prices on the boil, union petroleum and natural gas minister Hardeep Singh Puri has asked the Organisation of the Petroleum Exporting Countries to be sensitive to the needs of oil-consuming nations and curb output cuts. In another tweet, the minister wrote, "During the pandemic, when crude oil prices crashed, the world came together to stabilize the …

India’s final energy demand expected to double by 2070: FICCI-Deloitte report
1 year, 2 months ago

India’s final energy demand expected to double by 2070: FICCI-Deloitte report

Live Mint  

New Delhi: India’s final energy demand is expected to double to about 1,200 Mtoe by 2070 in a net-zero scenario with aggressive energy efficiency measures in place, according to a report. The report titled ‘India’s energy-transition pathway: A net-zero perspective by FICCI and Deloitte India’, has projected that the country requires a massive $15 trillion in investments to achieve its …

India’s Aug oil demand up by 2.5%, 2023 growth revised lower to 239,000/bbl
1 year, 3 months ago

India’s Aug oil demand up by 2.5%, 2023 growth revised lower to 239,000/bbl

Live Mint  

India's oil products demand increased by 118,000 barrels per day on a month on month basis in August as below-average rainfall and uneven distribution led to strong factory activity and increased mobility, according to a report by S&P Global Commodity Insights. On a year-on-year basis, the oil demand was up by 270,000 barrels per day, or 6 per cent, over …

India coal production rises 8.55% to record 223.36 million tonne in Q1FY24
1 year, 5 months ago

India coal production rises 8.55% to record 223.36 million tonne in Q1FY24

Live Mint  

New Delhi: India’s coal production grew 8.55% year-on-year to 223.36 million tonne during the June ended quarter of fiscal 2023-24, the ministry of coal said in a statement on Friday. “India’s coal sector achieved a remarkable milestone in the first quarter of FY 2023-24, by recording highest ever coal production at 223.36 million tonne, representing a substantial growth of 8.55% …

Eye on oil: on oil prices and India
1 year, 6 months ago

Eye on oil: on oil prices and India

The Hindu  

The world’s largest grouping of crude oil producers, commonly known as OPEC+, agreed on Sunday to extend ongoing production cuts into 2024 as it seeks to keep oil prices from falling amid concerns about a global economic slowdown. OPEC major and leading producer Saudi Arabia also voluntarily vowed to reduce output by an extra 1 million barrels per day in …

Chemicals & Petrochemicals demand in India expected to reach $1 trillion by 2040
1 year, 7 months ago

Chemicals & Petrochemicals demand in India expected to reach $1 trillion by 2040

Live Mint  

New Delhi: The demand for chemicals and petrochemicals in India is expected to nearly triple, reaching a staggering $1 trillion by 2040, said Union Minister of Petroleum & Natural Gas and Housing & Urban Affairs Hardeep Singh Puri on Friday. Speaking at the Asian Petrochemical Industry Conference in New Delhi, Puri highlighted India’s crucial role in global energy demand growth, …

Govt. panel proposes ban on diesel 4-wheeler vehicles by 2027
1 year, 7 months ago

Govt. panel proposes ban on diesel 4-wheeler vehicles by 2027

The Hindu  

India should ban the use of diesel-powered four-wheeler vehicles by 2027 and switch to electric and gas-fuelled vehicles in cities with more than a million people and polluted towns in order to cut emissions, a panel formed by the Ministry of Petroleum and Natural Gas is recommending. "By 2030, no city buses should be added which are not electric.diesel buses …

India's coal production rises 15% to 893 million tonnes in 2022-23
1 year, 7 months ago

India's coal production rises 15% to 893 million tonnes in 2022-23

India TV News  

India's overall coal production stood at 893.08 million tonnes in 2022-23 as compared to 778.19 in 2021-22, showing a growth of 14.78 percent. In the last five years, the output of Coal India Limited has increased by 703.21 million tonnes as compared to 606.89 million tonnes in 2018-2019 with a growth of 15.9 percent, official data said. Singareni Collieries Company …

India’s March fuel demand soars on robust economic activity
1 year, 8 months ago

India’s March fuel demand soars on robust economic activity

Live Mint  

India's fuel consumption jumped to a record high in March, data showed on Monday, fuelled by robust economic activity in the world's third biggest oil consumer. Consumption of fuel, a proxy for oil demand, rose by 5% from a year earlier to 4.83 million barrels per day, the highest recorded in data going back to 1998 from the Indian Oil …

Why Petrol, Diesel Prices Won't Fall in India Despite Cheaper Crude Oil?
1 year, 9 months ago

Why Petrol, Diesel Prices Won't Fall in India Despite Cheaper Crude Oil?

News 18  

Even as crude oil prices have fallen significantly following the bank collapses in the US, including Silicon Valley Bank and Signature Bank, the prices of petrol and diesel are unlikely to come down in India. According to a CNBC-TV18 report quoting sources, prices of petrol and diesel in India are unlikely to be reduced anytime soon as oil marketing companies …

Petrol, Diesel Prices In India Unlikely To Be Cut Despite Cheaper Crude Oil: Report
1 year, 9 months ago

Petrol, Diesel Prices In India Unlikely To Be Cut Despite Cheaper Crude Oil: Report

News 18  

Prices of petrol and diesel in India are unlikely to be reduced anytime soon as oil marketing companies have to recover accumulated losses of Rs 18,000 crore due to high crude prices in earlier quarters, according to a CNBC-TV18 report quoting sources. Petrol prices in India have been stagnant since May 2022, when Finance Minister Nirmala Sitharaman reduced the prices …

India's February Fuel Demand Hit At Least 24-Year High, Shows Data
1 year, 9 months ago

India's February Fuel Demand Hit At Least 24-Year High, Shows Data

News 18  

India’s fuel demand hit its highest level in at least 24 years in February, data showed on Thursday, with industrial activity in Asia’s third biggest economy boosted by cheap Russian oil. Consumption of fuel, a proxy for oil demand, rose by more than 5% to 4.82 million barrels per day in February, its 15th consecutive year-on-year rise, data showed. The …

India’s fuel demand hits 24-year high in February: Report
1 year, 9 months ago

India’s fuel demand hits 24-year high in February: Report

Live Mint  

As industrial activity in Asia's third-largest economy is boosted by cheap Russian oil, the fuel demand in India hit its highest level in at least 24 years in February, according to data showed on Thursday. Viktor Katona, lead crude analyst at Kpler said that the strength highlights a combination of profitable refining from record Russian crude imports in February, total …

Discover Related