State-owned Bharat Petroleum Corp. is seeking bids from global suppliers for a fifth of its typical LPG needs in 2021, according to a Bloomberg report, claiming to have seen a tender seeking bids. Bidding is still open to the Middle East producers, who already provide BPCL with the majority of its contracted needs. India’s second-biggest fuel retailer had made […]
After petrol, diesel demand has returned to pre-COVID-19 levels as sales rose 8.8 per cent in the first half of October from a year ago, preliminary industry data showed. This is the first annual increase in sales of diesel – the most consumed fuel in the country – since the nation imposed lockdown in late […]
Oil Minister Dharmendra Pradhan said India planned to raise its refining capacity, indicating the country’s dependence on hydrocarbons and fossil fuel, adding that fuel demand was expected to to reach pre-COVID-19 levels in the first quarter of the 2021 calendar year. “India currently has an oil refining capacity of around 250 million tonnes per annum […]
The fall in global gas prices due to higher production and coronavirus-induced low demand, CARE Ratings has said that the Union government will cut the price of domestic gas by a sharp 17.7 per cent to $1.97 per million British thermal units (mmBtu). The new price will be effective for six months starting 1 October, […]
Fitch Solutions has revised downward its forecast for fuel demand contraction in India to 11.5 per cent in 2020 in line with further deterioration in the country’s economic outlook. Its economists forecast India’s real GDP to contract by 8.6 per cent in the fiscal year 2020-21 (April 2020 to March 2021), down from -4.5 per cent previously. […]
India’s petrol sales rose for the first time in the first half of September since the country’s lockdown in late March, indicating demand may have returned to pre-COVID-19 levels. Petrol sales between September 1 and 15 rose 2.2 per cent year-on-year and were up 7 per cent over the previous month, according to preliminary industry […]
India’s domestic natural gas production fell by 9.5 per cent year-on-year (y-o-y) to 2,427 million metric standard cubic metre (MMSCM) in July this year. The 2.6 million tonnes (MT) of crude oil produced in the country during the month was also 6 per cent lower than the production in the year-ago period. Indigenous natural gas […]
Bihar is set to receive three key petroleum projects ahead of the Legislative Assembly polls, scheduled in November 2020. Prime Minister Narendra Modi announced during the fisheries scheme inauguration during a video conferencing. The projects include the Durgapur-Banka section of the Paradip-Haldia-Durgapur Pipeline Augmentation Project and two LPG Bottling Plants, said the Prime Minister’s Office. […]
India’s fuel demand in August 2020 saw its biggest decline since April this year, as local lockdowns put brakes on economic activity and transportation, official data showed. Petroleum product sales fell to 14.39 million tonnes last month in August, down by 7.5 per cent over the previous month and about 16 per cent from a year […]
State-owned gas utility GAIL India Ltd sees its gas demand returning to pre-COVID-19 levels by the end of the current quarter as the expansion of the city gas network will offset shrinking consumption. its Director (Marketing) E S Ranganathan said in an online forum. GAIL, the country’s largest natural gas marketing and transporting company, sold about 113 […]
