Petroleum sector contributes Rs.595,438 crore to India’s exchequer in 2018-19

The government at the centre and states have earned Rs 595,438 crore from petroleum products such as petrol and diesel in 2018-19, a government statement said. This was possible as the prices of petrol and diesel were deregulated. Petrol price was made market-determined by the government with effect from June 26, 2010, and the diesel […]

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India increases price of ethanol in a bid to help sugar mills and cane farmers

The Cabinet Committee on Economic Affairs (CCEA), has increased the basic price of ethanol produced from C-grade molasses by Rs. 2.85/ litre (or 7%) for the procurement season 2018-19 (starting December 2018). Currently, the price of ethanol derived out of C-heavy molasses stands at Rs.43.70 per litre from Rs.40.85, excluding GST and transportation charges. For the […]

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Sharp rise in crude prices and rupee fall negatives for India’s oil marketing companies: ICRA

A sharp rise in crude prices coupled with rupee depreciation against the US dollar are expected to negatively impact the oil marketing companies (OMCs) over the medium term, ratings agency ICRA said in a report. The price of Brent crude has soared to $73-74/bbl, their highest level since November 2014, primarily due to fears that the […]

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Ethanol supply to touch record 113 crore litres in FY18 for India’s oil marketing companies: ISMA

Ethanol supply to India’s oil marketing companies (OMCs) for blending with petrol will rise 71 per cent in 2017-18 season to touch record 113 crore litres, helping sugar mills to earn Rs 4,500 crore revenue, according to Indian Sugar Mills Association (ISMA). ISMA said around 66 crore litre of ethanol was lifted by OMCs for […]

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Integrated sugar mills in India to benefit from 5% rise in ethanol procurement price — ICRA

An increase in ethanol price by the Indian government for the procurement season 2017-18 to Rs. 40.85/litre for the oil marketing companies (OMCs) is likely to result in an increase in the total contribution margin by around Rs. 200 per tonne of sugar produced for fully integrated sugar mills, rating agency ICRA said in a […]

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