Global trade hits record $7.7 trillion in first quarter of 2022 – report

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The value of global trade rose to a record $7.7 trillion in Q1 2022, an increase of about $1 trillion relative to Q1 2021, according to UNCTAD’s Global Trade Update published on Thursday. The growth, which represents a rise of about $250 million relative to Q4 2021, is fuelled by rising commodity prices, as trade volumes have […]

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Higher than usual imports of Russian oil to help fuel retailers against petrol, diesel prices freeze: Fitch Report

Higher than usual imports of Russian oil at significant discounts to market prices may limit near-term working capital needs of fuel retailers IOC, BPCL and HPCL, Fitch Ratings said on Tuesday. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) haven’t changed the retail selling price of petrol, diesel and cooking gas LPG in line with cost over the […]

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Indian renewable power generators face modest gains from spiking power demand, says Fitch

Supply factors are likely to limit near-term growth opportunities for Indian renewable power generators stemming from the country’s current heat wave and high fossil-fuel prices, Fitch Ratings said adding that nonetheless, their medium-term prospects remain strong and are supported by government policies to diversify India’s energy base away from fossil fuels. Rising power demand as […]

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India to see sudden spike In EV adoption: IEA

India could be the next major market for electric vehicles, in large part thanks to commercial EV adoption. In fact, the subcontinent’s demand for EVs for commercial use alone is expected to increase a stunning 15-fold in the next six months alone. The sudden spike in uptake is being fuelled by the confluence of a number […]

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India’s fuel blues to get worse

With oil turning costlier relentlessly – Brent crude went past $80 a barrel yesterday, up 3.3 per cent from a week ago and a three-and-half-year high – the cost of Indian basket went to a prohibitive $76 a barrel. Add to that rupee falling sharply against the dollar, and the government refusing point blank on […]

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China cuts domestic fuel prices; for more flexibility

China’s top pricing regulator said it will introduce a more flexible method for pricing domestic fuel, with adjustments allowed if the international oil price fluctuates between $40 and $140 per barrel, according to the China Daily newspaper. The pricing of liquefied petroleum gas will be solely market-based, according to a statement released by the National […]

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