Dutch conglomerate and global leader in LPG distribution, SHV Energy has treaded into India’s solar energy space by acquiring a majority stake in Noida based SunSource Energy—a leading provider of distributed energy for commercial and industrial customers in India and South-East Asia. Though the exact value of the deal is not known, SHV Energy is […]
India’s Finance Minister Nirmala Sitharaman said she would be “glad” to discuss the suggestion of bringing petrol and diesel under the ambit of the Goods and Services Tax at the next meeting of the GST Council, following a huge outcry on high taxes on motor fuel. Less than a week ago she had ruled out […]
Fitch Ratings said there is a need for further clarity on the future of subsidies paid to BPCL’s customers on the sale of LPG and kerosene as well as the freedom on the pricing of petrol and diesel before the divestment can conclude. It said there is more visibility on BPCL privatisation, but there is still little […]
Cooking gas LPG consumption rose by 7.3 per cent in the last three months despite a steep price rise, with usage among the PMUY (Prime Minister Ujjwala Yojna) beneficiaries jumping by nearly 20 per cent, state-owned oil marketing companies said. “LPG consumption has improved amongst PMUY customers,” Indian Oil Corporation (IOC) said in a statement. An identical […]
Price of domestic cooking gas, LPG has doubled to Rs 819 per cylinder in the last seven years while the increase in taxes on petrol and diesel has fattened collections by over 459 per cent, Oil Minister Dharmendra Pradhan said in Parliament. In written replies to a spate of questions on rising fuel prices in […]
The Indian government plans to give one crore more free LPG connections to the needy over the next two years. These additional LPG connections are estimated to achieve near 100 per cent penetration of clean fuel in the country. In an interview with the Press Trust of India, Oil secretary, Tarun Kapoor said a record-breaking […]
The government of India has eliminated subsidy on poor man’s fuel, kerosene through small fortnightly price increases. Kerosene sold through the public distribution system (PDS) is now priced at market rates. The Union Budget for 2021-22 makes no provision for payment of subsidy on kerosene in the fiscal year beginning April, according to budget documents […]
State-owned Hindustan Petroleum Corporation (HPCL) reported a net profit of Rs 2,354.6 crore on a standalone basis for the three months ended December, recording a 215% rise from the same period a year ago. The company attributed the rise in profit to effective refinery scheduling and inventory management, “duly supported by favorable crude price movements leading […]
India’s fuel demand rose for the fourth straight month in December 2020, but it was about 2 per cent lower than pre-COVID levels. The total demand for petroleum products in December 2020 fell to 18.59 million tonnes from 18.94 million tonnes a year back, according to provisional data published by the oil ministry’s Petroleum Planning […]
India’s fuel demand rose for the fourth straight month in December 2020 as the resumption of economic activity took consumption to 11-month high, but it was about 2 per cent lower than pre-COVID levels. The total demand for petroleum products in December 2020 fell to 18.59 million tonnes from 18.94 million tonnes a year back, […]
