The price of natural gas may go up by as much as 18% from April 2019, according to a CARE Ratings’ report. As per the New Domestic Gas policy of 2014, which suggests revising natural gas prices every six months, the government may be revising domestic gas prices effective from 1 April 2019, according to […]
China’s energy production maintained stable growth during the first two months of the year, the official Xinhua News Agency quoted the National Bureau of Statistics as saying. Output of liquified petroleum gas rose 7.1 percent year-on-year to 6.43 million tonnes, while gasoline production increased 5.3 percent to 23.8 million tonnes, it said. Fuel output added […]
Asia is drowning in Chinese fuels and things are about to get worse over the next three years as new refining capacity in the world’s second-largest economy begins operating. According to Bloomberg columnist David Fickling, the teapots—China’s independent, private refiners—are the main driver of the glut that is choking off Asian refiners’ margins and pressuring prices. […]
India’s fuel product consumption or sales improved 6.4 per cent to 18.34 million tonnes in January 2019 over a year ago. Fuel products sales went up 3.2 per cent to 176.15 million tonnes in April-January FY2019 Diesel sales increased 6.2 per cent to 7.07 million tonnes, petrol 13.2 per cent to 2.37 million tonnes, LPG 11.1 […]
Palladium’s premium to platinum jumped to a record, building on its ranking as the best-performing metal of 2018. Shortages of the metal used in autocatalysts for gasoline-fueled vehicles sent its price to yet another all-time high, widening the price difference with rival platinum to more than $500 an ounce early this week. Most analysts don’t […]
India will surpass China to become the second largest oil demand growth centre globally in 2019 on back of buoyant auto fuel and LPG consumption, research and consultancy group Wood Mackenzie said. In a report, Wood Mackenzie said India’s oil demand growth recovered strongly in 2018, overcoming the aftermath of the implementation of Goods and […]
India’s diesel demand is likely to double to 163 million tonnes (MT) in 12 years as consumption rises in the world’s fastest-growing economy, Oil Minister Dharmendra Pradhan said. In a written reply to a question in the Lok Sabha, Pradhan said as per the International Energy Agency’s World Energy Outlook 2018, the country’s oil demand is projected […]
The Indian government’s directive to the country’s three state-owned oil marketing companies (OMCs) to reduce petrol and diesel prices will have a negative impact on their profitability and credit metrics, Fitch Ratings said in a note. However, the ratings will be unaffected as they are driven by state support, it added. The ratings of Bharat […]
Indian Railways has signed a preliminary deal with gas firm GAIL (India) Ltd to use natural gas in some of its operations, part of a drive by the world’s third-biggest oil consuming country to gradually shift to cleaner fuels. India is building infrastructure, including pipelines and import facilities, to raise the share of gas in its energy mix to 15 […]
India’s domestic demand of diesel and petrol rose to record highs in May, pushing the country’s overall fuel consumption for the month higher year-on-year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Oil imports from Iran also surged to about 705,000 barrels per day (bpd) in May, their highest […]
