SunSource Energy secures funding from SHV Energy to facilitate growth of its solar assets

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 […]

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LPG consumption up by 7.3% in the past three months, despite price rise

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 […]

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India slowly gets rid of subsidy on kerosene by gradual smaller price hikes

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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 […]

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HPCL profit rises 215 per cent to Rs 2,355 crore in third quarter amid oil crisis

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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 […]

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India’s fuel demand at 11-month high in December 2020; retail pices in January 2021 touching sky high

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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 […]

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