India set to overtake China to become the second largest oil consuming country: Wood Mackenzie Report

India will surpass China to become the second largest oil demand growth centre globally in 2019 on back of buoyant auto fuel and LPG consumption, research and consultancy group Wood Mackenzie said. In a report, Wood Mackenzie said India’s oil demand growth recovered strongly in 2018, overcoming the aftermath of the implementation of Goods and […]

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India’s fuel demand rose to record highs in May; imports from Iran surge to highest since 2016

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India’s domestic demand of diesel and petrol rose to record highs in May, pushing the country’s overall fuel consumption for the month higher year-on-year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. Oil imports from Iran also surged to about 705,000 barrels per day (bpd) in May, their highest […]

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India’s fuel blues to get worse

With oil turning costlier relentlessly – Brent crude went past $80 a barrel yesterday, up 3.3 per cent from a week ago and a three-and-half-year high – the cost of Indian basket went to a prohibitive $76 a barrel. Add to that rupee falling sharply against the dollar, and the government refusing point blank on […]

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