India’s oil demand growth to top China’s in 2024, trend to continue next year: S&P
1 week, 6 days ago

India’s oil demand growth to top China’s in 2024, trend to continue next year: S&P

Live Mint  

India is poised to close 2024 with a higher oil demand growth rate than China, underscoring its emergence as a key consumption hub in Asia, according to a report by S&P Global Commodity Insights. "India is set to end the year with its oil demand growth rate surpassing China's, making it one of the fastest-growing consumption centres," the report noted, adding that this trend is likely to persist into 2025. India's oil demand is projected to grow by 3.2% in 2025, nearly double China's 1.7%, according to Kang Wu, global head of macro and oil demand research at S&P Global Commodity Insights. Read this | India's overseas energy hunt to target producing assets now "Recent diplomatic visits will help bring in crude oil from Africa and Latin America, but the growth in absolute volume would depend on the overall crude market," said Abhishek Ranjan, South Asia oil research lead at S&P Global Commodity Insights.

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History of this topic

Budget 2025 preview — Part 1: Fiscal deficit, FDI, disinvestment, energy issues
5 days, 5 hours ago

Budget 2025 preview — Part 1: Fiscal deficit, FDI, disinvestment, energy issues

Live Mint  

Foreign direct investment inflows into India—investments by foreign entities in domestic businesses—hold the potential to transform the economy. Fiscal deficit: Tax buoyancy holds the key to managing deficits India introduced the Fiscal Responsibility and Budget Management Act in 2003, targeting a fiscal deficit—the gap between government spending and revenue—of 3% of GDP. In 2022-23, the last year for which actual …

Oil rises from two-month highs on optimism ove
6 days, 9 hours ago

Oil rises from two-month highs on optimism ove

Live Mint  

By Florence Tan SINGAPORE - Oil prices extended their gains on Friday after closing at their highest in more than two months in the previous session on hopes governments across the world may increase policy support to revive economic growth that would lift fuel demand. Factory activity in Asia, Europe and the U.S. ended 2024 on a soft note as …

Oil India, ONGC shares jump 5% today. What's fuelling the rally?
6 days, 11 hours ago

Oil India, ONGC shares jump 5% today. What's fuelling the rally?

India Today  

Shares of Oil India Ltd and ONGC surged up to 5% on Friday, buoyed by a sharp rise in crude oil prices, which reached their highest levels in over two months. According to YES Securities, ONGC’s oil production may fall 4.7% year-on-year in Q3, though gas production is likely to remain flat. For the December quarter, YES Securities projects a …

India’s petroleum exports plunge amid weak global demand, Red Sea disruptions
1 week ago

India’s petroleum exports plunge amid weak global demand, Red Sea disruptions

Live Mint  

New Delhi: Exports of petroleum products took a hit in November, weighed down by sluggish demand in developed economies, a rise in domestic consumption and a significant decline in cheap petroleum imports from Russia. Compounding the issue, India’s imports of Russian crude oil in November fell to their lowest levels since June 2022, according to a recent report from the …

India met all-time maximum power demand of 250 GW in 2024
1 week ago

India met all-time maximum power demand of 250 GW in 2024

Live Mint  

New Delhi, January 1 : The year 2024 marked a landmark period for India's power sector, with historic advancements in energy generation, transmission, and distribution. From meeting record power demand of 250 GW to reducing energy shortages at the national level to a mere 0.1 per cent in 2024-25, the sector demonstrated resilience and commitment to sustainable growth. In the …

India's core sector growth hits four-month high of 4.3% in November
1 week, 1 day ago

India's core sector growth hits four-month high of 4.3% in November

Live Mint  

NEW DELHI : India's infrastructure output, which accounts for about two-fifths of industrial production, jumped to a four-month high in November, driven by a rise in six of the eight core constituent sectors during the month. A year ago, the output of the eight core industries—coal, crude oil, steel, cement, electricity, fertilisers, refinery products and natural gas—had expanded by 7.9% …

Oil inches higher in thin trade, investors focus on China, US data
1 week, 3 days ago

Oil inches higher in thin trade, investors focus on China, US data

Live Mint  

By Florence Tan and Emily Chow SINGORE -Oil prices edged up on Monday in thin holiday trade ahead of the year-end as traders awaited more Chinese and U.S. economic data later this week to assess growth in the world's two largest oil consumers. Oil prices were also supported by optimism for Chinese economic growth next year that could lift demand …

Indian economy to grow at 6.5-6.8 pc in FY25 on higher domestic consumption: Deloitte
1 week, 4 days ago

Indian economy to grow at 6.5-6.8 pc in FY25 on higher domestic consumption: Deloitte

Live Mint  

New Delhi, Dec 29 Indian economy is likely to grow at 6.5-6.8 per cent this fiscal and slightly higher between 6.7-7.3 per cent in FY2026, boosted by domestic consumption, Deloitte said on Sunday. Deloitte India Economist Rumki Majumdar said the growth in the first half of the fiscal year 2025 turned out to be slower than estimated as election uncertainties …

US Oil Exports to China Dwindle as Demand Wanes, Buying Shifts
1 week, 6 days ago

US Oil Exports to China Dwindle as Demand Wanes, Buying Shifts

Live Mint  

-- US crude exports to China plunged by almost half this year as shifts in the nation’s economy weighed on demand and the country buys more barrels from countries including Russia and Iran. Exports of US oil to China plunged to 81.9 million barrels over the course of the year, down 46% from 150.6 million barrels last year, according to …

LPG price, pension, fixed deposit: Key changes that will impact India’s middle class from January 1
2 weeks ago

LPG price, pension, fixed deposit: Key changes that will impact India’s middle class from January 1

India TV News  

With just a few days left for the year 2024 coming to an end, and 2025 to start, several changes will come into effect in the country, impacting how households and working-class employees manage their finances and routines. From changes in LPG prices to new payment rules under UPI etc, these changes will affect many aspects of daily life of …

Oil prices up in thin pre-Christmas trade
Trending News
2 weeks, 2 days ago

Oil prices up in thin pre-Christmas trade

Live Mint  

By Katya Golubkova TOKYO, Dec 24 - Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by U.S. economic data and rising oil demand in India, the world's third-largest oil importer. In the shorter term, traders are looking for indications of U.S. demand from the crude oil and fuel stockpiles data …

China’s EV boom is starting to pinch oil producers
2 weeks, 2 days ago

China’s EV boom is starting to pinch oil producers

Live Mint  

The country has long been the thirstiest consumer of crude. While China’s overall oil demand still appears stable, its composition is shifting gears rapidly. Gasoline and diesel demand seems to have peaked: China’s total demand for these transportation fuels in 2024 will be 3.6% lower than in 2021, according to IEA estimates. Diesel and gasoline accounted for 44% of China’s …

Middle East share of India’s Nov oil imports at 9-month high; Russia down
2 weeks, 3 days ago

Middle East share of India’s Nov oil imports at 9-month high; Russia down

Live Mint  

By Nidhi Verma NEW DELHI - India's November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed. The world's third biggest oil importer and consumer in November shipped in 13% less Russia oil compared with October at 1.52 million barrels per day, …

2024 turning point for country's refined oil market
3 weeks, 2 days ago

2024 turning point for country's refined oil market

China Daily  

A drilling platform in Kaiping South Oilfield in the South China Sea in December 2023. China's economic structural transformation and the rapid rise of renewables will make 2024 a turning point for the country's refined oil market, with demand set to shrink for the first time, industry experts say. Due to the accelerated replacement of traditional energy with renewable sources …

Energy self-sufficiency rate reaches 85%
3 weeks, 2 days ago

Energy self-sufficiency rate reaches 85%

China Daily  

A worker fuels up a car at a gas station in Qingzhou, Shandong province, in December. WANG JILIN/FOR CHINA DAILY Oil and gas have reinforced supply security throughout this year as China navigates the path between energy transition and its carbon neutrality goals, said industry experts and company executives. Wu said China's oil and gas sectors remain indispensable to its …

India’s imports rises to 27%, touches to record high of almost $70 billion
3 weeks, 3 days ago

India’s imports rises to 27%, touches to record high of almost $70 billion

The Hindu  

India’s merchandise exports fell 4.83% to $32.11 billion in November while the import bill jumped 27% to a record high of almost $70 billion, as per data released by the Commerce Ministry. This is the third time in four months that India’s import bill has hit a record high, but November’s tally surpasses the last two occasions by a wide …

India’s crude oil imports from Russia drop 55% in November, lowest since June 2022
3 weeks, 3 days ago

India’s crude oil imports from Russia drop 55% in November, lowest since June 2022

Live Mint  

India's import of Russian crude dropped to its lowest level since June 2022 in November this year, reported the news agency PTI on Sunday, December 15, citing a Centre for Research on Energy and Clean Air report. “India's imports of Russian crude oil dropped by a massive 55 per cent in November - the lowest figure since June 2022,” the …

Mint Explainer: How rising palm oil prices impact India and its consumers
3 weeks, 6 days ago

Mint Explainer: How rising palm oil prices impact India and its consumers

Live Mint  

Investors were left reeling this week as Godrej Consumer Products issued a stark warning: soaring palm oil prices have severely impacted its soaps segment, a cornerstone of its business. This policy change came as global palm oil prices were already climbing due to supply constraints in Southeast Asia, creating a perfect storm for manufacturers. Read this | Edible oil, tea, …

India's GDP growth slows to 5.4% in Q2 2024-25: Govt data
1 month, 1 week ago

India's GDP growth slows to 5.4% in Q2 2024-25: Govt data

Hindustan Times  

India's Gross Domestic Product growth slowed down to 5.4% during the second quarter of the financial year 2024-25 due to the falling growth rate in manufacturing, consumption, and mining. India's GDP growth slows to 5.4% in Q2 2024-25, govt data shows In comparison, the GDP growth rate was 8.1% in the second quarter of 2023-24, according to government data released …

Asia’s November crude oil imports nudge higher, still heading for annual fall: Russell
1 month, 1 week ago

Asia’s November crude oil imports nudge higher, still heading for annual fall: Russell

Live Mint  

By Clyde Russell LAUNCESTON, Australia, Nov 28 - Asia's imports of crude oil ticked up slightly in November, led by a recovery by top importer China, but arrivals are still on track to be weaker this year than in 2023. For the first 11 months of the year, Asia's crude imports were 26.52 million bpd, down 370,000 bpd from the …

Petroleum demand forecast to peak by 2029
1 month, 2 weeks 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, 2 weeks 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. …

China’s surplus crude oil eased in October, but this is still bearish: Russell
1 month, 3 weeks ago

China’s surplus crude oil eased in October, but this is still bearish: Russell

Live Mint  

By Clyde Russell SYDNEY, Nov 18 - China's crude oil surplus nearly halved in October, but this was a further sign of weakness as both imports and refinery runs dipped. But there is also a structural shift underway in China's crude oil demand, with the rapid uptake of what Beijing terms new energy vehicles, which include full electric vehicles and …

Oil heads for weekly loss as Chinese demand continues to underperform
Trending News
1 month, 3 weeks ago

Oil heads for weekly loss as Chinese demand continues to underperform

Live Mint  

By Nicole Jao and Gabrielle Ng SINGAPORE -Oil prices fell on Friday on signs demand in China, the world's biggest crude importer, continues to underperform amid its uneven economic recovery. The decline in run rates occurred as China's factory output growth slowed last month and demand woes in its property sector showed few signs of abating even though consumer spending …

India’s current account deficit to remain manageable in FY25, Rupee to remain in pressure: Bank of Baroda
1 month, 3 weeks ago

India’s current account deficit to remain manageable in FY25, Rupee to remain in pressure: Bank of Baroda

Live Mint  

New Delhi, November 15 : India's current account deficit will remain within a manageable range for both FY25 and FY26, largely due to muted oil prices that are expected to support the country's external financial position, projected a recent report by Bank of Baroda. Despite global market volatility, the report stated that steady oil prices at current levels are a …

China's weak oil demand may lead to global surplus of 1 mn barrels: How would crude prices react?
1 month, 3 weeks ago

China's weak oil demand may lead to global surplus of 1 mn barrels: How would crude prices react?

Firstpost  

The surplus could provide a buffer for prices against potential supply-side price shocks from conflicts in West Asia and other regions Low oil demand from China, supply-side shocks due to the conflict in West Asia, and increase in oil production by countries like US and Brazil are all important factors in determining crude oil price. The IEA forecasts that global …

India's Renewable Energy Capacity Hits New Milestone: Centre
1 month, 3 weeks ago

India's Renewable Energy Capacity Hits New Milestone: Centre

Deccan Chronicle  

New Delhi: India has reached a significant milestone in its renewable energy journey, with the country's total renewable energy capacity crossing the 200 GW. India's total renewable energy installed capacity surged by an impressive 24.2 GW in just one year, reaching 203.18 GW in October 2024, up from 178.98 GW in October 2023. India's total electricity generation capacity has reached …

'India did the entire world a favour': Union Minister Puri on India's stance to buy Russian oil
2 months ago

'India did the entire world a favour': Union Minister Puri on India's stance to buy Russian oil

New Indian Express  

India's decision to purchase oil from Russia amidst global uncertainties has played a crucial role in preventing a potential spike in global oil prices, said Union Petroleum and Natural Gas Minister Hardeep Singh Puri. In an interview with CNN's Becky Anderson on the sidelines of the annual ADIPEC energy industry event in Abu Dhabi, the Union Minister stated that without …

India’s veg oil imports seen lower in 2024-25, industry group says
2 months 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
2 months 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, 3 weeks 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 …

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

Is the spike in India’s trade deficit a worry?
3 months, 2 weeks ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

Govt may cut petrol and diesel prices if global prices remain low: Petroleum Secretary
3 months, 4 weeks ago

Govt may cut petrol and diesel prices if global prices remain low: Petroleum Secretary

Live Mint  

Secretary at the Ministry of Petroleum and Natural Gas, Pankaj Jain, said on Thursday that oil companies will consider cutting fuel prices if crude oil remains low for an extended period. With the rise in fuel demand, India wants increased output from the Organisation of Petroleum Exporting Countries, its allies, and Russia, the Oil Secretary added. Global crude oil prices …

India’s core sector growth increases by 6.1 per cent in July 2024
4 months, 1 week 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
4 months, 1 week 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
4 months, 1 week 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
5 months, 1 week 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, …

IMF says India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025
6 months, 2 weeks ago

IMF says India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025

Times of India  

NEW DELHI: The International Monetary Fund has forecast that India's GDP is likely to grow to moderate from 8.2% in 2023 to 7% in 2024 and 6.5% in 2025. "In India, the outlook is for GDP growth to moderate from 8.2% in 2023 to 7% in 2024 and 6.5% in 2025, because pent-up demand accumulated during the pandemic has been …

India's coal dependence for power to be highest in nine years as heatwaves intensify
6 months, 2 weeks 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 …

India to remain fastest growing Asia-Pacific economy in 2024, predicts Moody's
6 months, 3 weeks ago

India to remain fastest growing Asia-Pacific economy in 2024, predicts Moody's

India TV News  

Moody's latest Ratings revealed that India is poised to maintain its position as the Asia-Pacific region's top-performing economy in 2024, continuing the robust growth driven by domestic factors seen last year. India to remain fastest growing economy: World Bank Earlier this week, a Work Bank report stated that India will remain the fastest-growing major economy recording a steady growth of …

India's industrial output's year-on-year growth increases to 5% in April 2024
6 months, 3 weeks 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
7 months 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 …

Scorching heat drives India's gas-fired power use to multi-year highs in May
7 months 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, 2 weeks 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's 2024 economic growth projection revised upwards by U.N. to nearly 7%
7 months, 3 weeks ago

India's 2024 economic growth projection revised upwards by U.N. to nearly 7%

The Hindu  

The United Nations has revised upwards India’s growth projections for 2024, with the country’s economy now forecast to expand by close to 7% this year, mainly driven by strong public investment and resilient private consumption. The World Economic Situation and Prospects as of mid-2024, released Thursday, said, “India’s economy is forecast to expand by 6.9% in 2024 and 6.6% in …

Petrol sales up 12.3%; diesel slides 2.3% in April 2024
8 months, 1 week 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 saved USD 13 billion by importing discounted Russian crude
8 months, 1 week ago

India saved USD 13 billion by importing discounted Russian crude

New Indian Express  

NEW DELHI: India has saved around $13 billion by importing discounted crude oil from Russia in the past two years, according to a study by ICRA, the rating agency. According to energy cargo tracker Vortexa, India received 1.36 million barrels of crude oil per day from Russia in March 2024, compared to 1.27 million barrels per day in February 2024. …

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