Sale of diesel in India during August 2020 declined by 12% over July 2020: PPAC

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India’s consumption of diesel in August 2020 was 12 per cent lower than the levels recorded in July 2020, indicating a definite slowdown of economy as lockdown curbs in many areas has slowed industrial and commercial consumption. On a year-on-year basis, diesel consumption was down 20.7 per cent to 4.9 million tonnes in August. Diesel […]

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India’s fuel demand continues to weaken as coronavirus crisis worsens

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India’s fuel demand dragged lower in July, posting its fifth consecutive year-on-year decline, government data showed on Tuesday as a spike in coronavirus cases and floods in many parts of the country restricted economic activity. Consumption of refined fuels, a proxy for oil demand, fell to 15.68 million tonnes in July, 11.7 per cent lower compared with […]

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India’ petroleum product demand doubles in May, after sharp drop in April

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With country’ petroleum product demand doubling in May, India’s largest refiner Indian Oil Corporation Ltd (IOC) said its refineries are operating at almost 90 per cent of their capacity. This comes in the backdrop of Indian economy slowing coming back to life after the world’s strictest lockdown. The state-owned refiner had slashed its refining capacity […]

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Petroleum products consumption in India slips by 0.6% in January 2020

Domestic consumption of petroleum products in January 2020 slipped by 0.6 per cent year-on-year (y-o-y) to 18.4 million tonnes, mostly on the back of lower sales of diesel, bitumen and fuel oil. According to provisional data by the government’s petroleum planning and analysis cell (PPAC), diesel usage dipped 1.9 per cent to 6.9 million tonnes. In […]

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India’s state-promoted NCDEX arm in pact with Iranian Mercantile Exchange

NCDEX e-Markets (NeML), a group company of India’s NCDEX, has signed an agreement with the Iranian Mercantile Exchange to develop a platform for commodities trade between the two countries. “This agreement with NeML will create a joint e- trading platform for trading of commodities from Iran to India and vice-versa. The trading platform is likely […]

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