India's Fuel Demand In July Rises 6.1%; LPG Sales Up 1.7%
2 years, 4 months ago

India's Fuel Demand In July Rises 6.1%; LPG Sales Up 1.7%

News 18  

India’s fuel demand in July rose 6.1 per cent year-on-year, data from the Petroleum Planning and Analysis Cell of the oil ministry showed on Monday. “India’s fuel demand outlook is improving as the economy is poised for a strong bounce back in consumption and continued momentum for the services sector,” said Edward Moya, senior analyst with OANDA. “Fuel demand is softer than the prior month as higher prices are starting to impact demand…with the rupee at a historically low level, the country will struggle if oil prices continue to rebound.” Sales of gasoline, or petrol, were 6.8% higher from a year earlier at 2.81 million tonnes. Gasoline and gas oil sales by Indian state refiners in July fell from a month earlier as monsoon rains restricted mobility and construction work while high inflation curtailed overall demand for goods, per preliminary sales data.

India Fuel Sales Demand Million Tonnes Fuel Demand  17  petroleum  prices  oil  month  sales  demand  million  tonnes  rises  61  indias  lpg  fuel  gas

History of this topic

Refining margins of state-run oil marketing companies fall this fiscal
1 week, 1 day ago

Refining margins of state-run oil marketing companies fall this fiscal

Live Mint  

New Delhi: Gross refining margins of public sector oil marketing companies have fallen by up to 80% in the first half of this financial year, showed data from the Petroleum Planning & Analysis Cell, amid shrinking discounts of Russian oil and declining prices in global markets, experts said. Mangalore Refinery and Petrochemicals Ltd, a public sector enterprise under the Union …

Petrol, Diesel Consumption Surge in November as Festive Season Boosts Demand
3 weeks, 2 days 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 …

Price hike: 19 kg commercial LPG cylinder costlier by ₹16.50, at ₹1,818.50 in Delhi from today. See details here
Top News
3 weeks, 2 days ago

Price hike: 19 kg commercial LPG cylinder costlier by ₹16.50, at ₹1,818.50 in Delhi from today. See details here

Live Mint  

LPG Price hike: Oil marketing companies have on December 1 raised the price of 19 kg commercial LPG cylinder by ₹16.50, now at ₹1,818.50 in Delhi, as per an ANI report. The price hike affects businesses reliant on LPG, while 14.2 kg domestic cylinder rates remain unchanged, providing some relief to households, it added. Price Hike Trend Last month too, …

Commercial LPG cylinder prices increased by Rs 16.5, see what decided for domestic refills
Trending News
3 weeks, 2 days ago

Commercial LPG cylinder prices increased by Rs 16.5, see what decided for domestic refills

India TV News  

In a monthly assessment, the state-owned oil marketing companies have raised the prices of commercial LPG gas cylinders with immediate effect. As per the latest revision, the price of 19 kg commercial LPG gas cylinders has been increased by Rs 16.50 with effect from today. Commercial LPG price in Delhi As per the revised prices, in Delhi, the retail sale …

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. …

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 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's July edible oil imports to surge to record on robust palm buying, sources say
5 months ago

India's July edible oil imports to surge to record on robust palm buying, sources say

Hindustan Times  

By Rajendra Jadhav India's July edible oil imports to surge to record on robust palm buying, sources say MUMBAI, - India bought a record amount of edible oils for July delivery, as refiners increased palm oil and soyoil purchases due to lucrative prices and ahead of an anticipated hike in import duties, industry and government sources told Reuters. Edible oil …

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 …

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 …

ATF price cut 6.5% to ₹94,969.01/kl, 19-kg commercial LPG price cut by ₹69 to ₹1,676/cylinder
6 months, 3 weeks ago

ATF price cut 6.5% to ₹94,969.01/kl, 19-kg commercial LPG price cut by ₹69 to ₹1,676/cylinder

Live Mint  

In Mumbai, the jet fuel price dropped to ₹ 88,834.27/kl from ₹ 95,173.70/kl. Jet fuel, also known as aviation turbine fuel, saw a significant reduction of 6.5 per cent on June 1, down by ₹6,673.87 per kilolitre to ₹94,969.01/kl in New Delhi, as per a PTI report. Commercial LPG Prices Lowered Oil companies also reduced the price of commercial LPG …

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 …

Oil companies register 71 times profit in FY24
7 months, 2 weeks ago

Oil companies register 71 times profit in FY24

New Indian Express  

NEW DELHI: After a tepid FY23, the PSU oil marketing companies have turned the table and raked in record profits in FY24. The three state-owned oil marketing companies – IOCL, BPCL and HPCL – have together posted `82,500 crore standalone profit in 2023-34, 71 times the profit earned in the previous year. Indian Oil Corporation, the country’s largest oil marketing …

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, 1 week 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 …

LPG price cut ahead of elections: Oil marketing companies slash rates for 19-kg commercial. Check revised rate
8 months, 3 weeks ago

LPG price cut ahead of elections: Oil marketing companies slash rates for 19-kg commercial. Check revised rate

India TV News  

Oil marketing companies have announced a reduction in prices for 19 kg commercial cylinders and 5 kg FTL cylinders, effective from April 1, 2024, just ahead of the Lok Sabha elections. The price of a 19 kg commercial cylinder has been decreased by Rs 30.50, with the new price set at Rs 1764.50 in Delhi starting from April 1. Fluctuating …

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 …

Petrol and diesel prices reduced by ₹2 per litre ahead of Lok Sabha elections
9 months, 1 week ago

Petrol and diesel prices reduced by ₹2 per litre ahead of Lok Sabha elections

Hindustan Times  

Petrol and diesel prices are being reduced by ₹2 per litre, Union petroleum minister Hardeep Singh Puri announced on Thursday. “By slashing petrol and diesel prices by ₹2, prime minister Narendra Modi has once again shown that providing welfare and convenience to his family of crores of Indians, has always been his goal,” Puri wrote in a post on X. …

LPG price hike update: Rates of commercial cylinders increased by Rs 25 today, check details here
9 months, 3 weeks ago

LPG price hike update: Rates of commercial cylinders increased by Rs 25 today, check details here

India TV News  

Oil marketing companies have announced a significant revision in the prices of commercial LPG gas cylinders, effective today, March 1, 2024. The price hike of Rs 25.50 for 19 KG of commercial LPG gas cylinders brings retail rates to a new high. Delhi's commercial LPG cylinder reaches Rs 1,795 Following the adjustment, the retail sales price of a 19 kg …

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 …

Centre slashes ATF prices by ₹1,221 per kl in Delhi ahead of Budget 2024
10 months, 3 weeks ago

Centre slashes ATF prices by ₹1,221 per kl in Delhi ahead of Budget 2024

Live Mint  

The central government took a significant step on February 1 by reducing jet fuel or aviation turbine fuel prices by ₹1,221 per kilolitre in the national capital, just ahead of the eagerly awaited Interim Budget. Following the latest adjustment, ATF prices for domestic airlines are now at ₹1,00,772.17 per kilolitre in Delhi, ₹1,09,797.33 per kilolitre in Kolkata, ₹94,246.00 per kilolitre …

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 …

Oil companies may slash petrol, diesel prices by Rs 5-10 next month
11 months, 1 week ago

Oil companies may slash petrol, diesel prices by Rs 5-10 next month

India TV News  

State-owned Indian Oil Corporation, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd are considering a reduction in petrol and diesel prices in February, just ahead of the Lok Sabha elections. The companies are expected to make a decision on reducing petrol and diesel rates, possibly by Rs 5 to Rs 10 per litre, after assessing their financial results and …

Crude oil prices falling but no relief to public: Kharge slams Centre
11 months, 2 weeks ago

Crude oil prices falling but no relief to public: Kharge slams Centre

Hindustan Times  

New Delhi: Congress president Mallikarjun Kharge on Thursday criticised the central government for failing to lower petrol and diesel prices claiming there has been a significant drop in global crude oil prices. Congress president Mallikarjun Kharge “Crude oil prices have plunged by 31% over 19 months,” he said and accused Prime Minister Narendra Modi-led Bharatiya Janata Party government at the …

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 …

Prices of commercial LPG cylinders reduced by ₹39.5
1 year ago

Prices of commercial LPG cylinders reduced by ₹39.5

Hindustan Times  

NEW DELHI: State-run fuel retailers on Friday slashed prices of liquefied petroleum gas used for commercial purposes by ₹39.50 per 19-kg cylinder as fuel rates fell in the international markets. While prices of subsidised 14.2-kg LPG cylinders remained unchanged, the international fall in the price of the fuel will proportionately reduce government’s subsidy burden. Subsidised 14.2-kg LPG cylinders are sold …

ONGC, Oil India poised for growth amid shifting oil dynamics
1 year ago

ONGC, Oil India poised for growth amid shifting oil dynamics

Live Mint  

Shares of Oil & Natural Gas Corp Ltd and Oil India Ltd have been on fire, significantly outperforming the Nifty50 index with gains of 38% and 73% respectively this calendar year. This tax, adjusted biweekly, stabilizes net oil realizations for companies like ONGC and Oil India, ensuring consistent earnings. JM Financial Securities Ltd notes that the windfall tax adjustments by …

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 …

Commercial LPG Cylinder Gets Cheaper by Rs 57.50; Check Rates in Delhi, Other Cities
1 year, 1 month ago

Commercial LPG Cylinder Gets Cheaper by Rs 57.50; Check Rates in Delhi, Other Cities

News 18  

LPG Cylinder Price: In what comes as a big relief amid the festive season, petroleum companies have cut prices of LPG gas cylinders. State-run Oil Marketing Companies have announced a reduction in the prices of 19-kilogram commercial LPG cylinders in four metro cities. Here are the prices of the 19-kg LPG cylinder in the four cities, with effect from November …

Crude price rise: Anand Rathi initiates coverage on ONGC, Oil India
1 year, 1 month ago

Crude price rise: Anand Rathi initiates coverage on ONGC, Oil India

Live Mint  

Though we don’t expect them to flare up to FY23 highs, recovering demand and OPEC’s supply cuts would keep crude prices high and support upstream companies ONGC and Oil India, said brokerage house Anand Rathi in a recent report. On the back of this current scenario, the brokerage has initiated coverage on upstream companies ONGC and Oil India with ‘Buys’ …

Domestic crude oil production at 2.4 MMT in September, imports rise 6.1% YoY: PPAC
1 year, 2 months ago

Domestic crude oil production at 2.4 MMT in September, imports rise 6.1% YoY: PPAC

Live Mint  

India produced a total of 2.4 million metric tonnes of crude oil in September 2023 - registering a steady growth compared to the year-ago period, according to Petroleum Planning & Analysis Cell. {{^adFree}} {{/adFree}} Crude oil imports increased by 6.1 per cent and by 0.4 per cent during September 2023 and April-September 2023 respectively, compared to the corresponding period of …

No petrol, diesel price hike likely despite crude oil price surge as elections loom: Moody's
1 year, 2 months ago

No petrol, diesel price hike likely despite crude oil price surge as elections loom: Moody's

The Hindu  

Petrol and diesel prices are unlikely to be increased despite firming raw material costs because of upcoming general elections next year, Moody's Investors Service said. "High crude oil prices will weaken the profitability of the three state-owned oil marketing companies in India — IOC, BPCL and HPCL," Moody's said in a report. "Still, the three companies' fiscal 2024 earnings will …

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 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 …

Mint Explainer: Why the government cut LPG prices by ₹ 200
1 year, 3 months ago

Mint Explainer: Why the government cut LPG prices by ₹ 200

Live Mint  

The Union cabinet on Tuesday approved a reduction ₹200 on domestic liquified petroleum gas cylinders or cooking gas. Similarly, domestic LPG prices in Kolkata, Mumbai and Chennai stood at ₹929, ₹902.50 and ₹918.50, respectively, after the price cut. Government data showed that during the period under review, LPG prices in the national capital rose by ₹359 from ₹744 to ₹1,103 …

LPG price cut due to impact of INDIA alliance: Mamata Banerjee
1 year, 3 months ago

LPG price cut due to impact of INDIA alliance: Mamata Banerjee

India Today  

West Bengal Chief Minister Mamata Banerjee on Tuesday said the Centre’s decision to slash LPG prices by Rs 200 as an impact of the INDIA opposition alliance. Earlier in the day, the central government announced a Rs 200 per cylinder cut in prices of domestic cooking gas as it looked to counter the cheaper LPG promise of the Congress in …

ONGC Q1 net profit drops 34% on lower oil prices, output
1 year, 4 months ago

ONGC Q1 net profit drops 34% on lower oil prices, output

Hindustan Times  

The net profit of Oil and Natural Gas Corporation fell over 34 per cent in June quarter on decline in oil prices and lower output, the firm said. ONGC, India's top crude oil and natural gas producer, earned USD 76.49 for every barrel of crude oil it produced and sold from nomination fields against a net realisation of USD 108.55 …

Oil falls over 1.5% after weak data from Asian refiners offsets tighter supply
1 year, 4 months ago

Oil falls over 1.5% after weak data from Asian refiners offsets tighter supply

Live Mint  

Oil prices fell by more than 1.5 per cent on August 8 after data showed that China's imports and exports fell much more than expected in July in another sign of a sluggish post-COVID rebound for the world's largest oil importer. Back home, on the Multi Commodity Exchange, crude oil futures due for an August 21 expiry, were last trading …

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