India announced a series of measures, including a a cut in excise duty on petrol and diesel, and a reduction in import duty on raw materials for plastics and steel, to control price rise as inflation rose to an eight-year high due to an uncertain global situation because Russia’s invasion of Ukraine that has led […]
India’s petrol and diesel sales growth moderated in April while cooking gas LPG consumption fell as record high prices dented demand, preliminary industry data showed. Petrol sales growth moderated to 2.1 per cent in April when compared with the same period in the preceding month, while diesel demand was almost flat. Cooking gas LPG, which had consistently […]
Fuel consumption in 2022-23 is estimated to rise to 214.5 million tonnes from 203.2 million tonnes expected sales in the current fiscal year ending March 2022, according to the oil ministry’s Petroleum Planning and Analysis Cell (PPAC). It will cross the pre-pandemic level sales in the current fiscal. In 2019-20, India had consumed 214.1 million […]
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, predicts global commodity research firm, Wood Mackenzie, Wood Mackenzie vice chair Julian Kettle said: “The most likely outcome is an environment where commodity prices can settle from the extraordinary highs of 2021. But […]
OPEC and allied oil-producing countries have decided to pump more oil to the world economy amid hope that travel and demand for fuel will hold up despite the rapid spread of the omicron variant of COVID-19. The 23-member OPEC+ alliance led by oil cartel member Saudi Arabia and non-member Russia said it would add 400,000 […]
Price of petrol and diesel was hiked again by 35 paise a litre and the auto fuels now cost a third more than the rate at which ATF is sold to airlines. The fourth straight day of 35 paise per litre hike sent petrol and diesel rates to record highs across the country. The price of […]
Petrol price in Delhi rose to its highest-ever level of Rs 102.94 a litre and to Rs 108.96 in Mumbai, a government notification said. Diesel rates too touched a record high of Rs 91.42 in Delhi and Rs 99.17 per litre in Mumbai. Prices differ from state to state depending on the incidence of local […]
India’s aluminum makers are calling on state-run Coal India Ltd. to restore supplies of the fuel, after the producer cut back shipments to prioritize deliveries to power plants amid surging electricity demand. The producers, typically among the largest industrial electricity consumers, face severe disruption if smelters experience outages and have few alternatives to domestic coal, […]
Given the increased thrust to absorb green Hydrogen as a renewable resource, the government is set to make it mandatory for user industries to produce or procure green hydrogen to meet part of their needs. This is a move that has the potential to make India one of the largest producers of what is being […]
India’s largest fuel retailer, Indian Oil Corporation (IOC), has announced that it will build the nation’s first green hydrogen plant at its Mathura refinery. This will be the nation’s first green hydrogen unit. Previously, projects have been announced to produce ‘grey hydrogen’ using fossil fuels such as natural gas. This is significant given that Hydrogen […]
