India’s July 2019 petrol imports surges highest in 8 years

India’s petrol imports rose to 230,000 tonnes in July 2019, the highest in last eight years according to data from the oil ministry’s Petroleum Planning and Analysis Cell (PPAC). However, July 2019 crude oil imports declined from a year earlier, while petrol imports climbed to their highest since at least April 2011. Crude oil imports into the world’s third-largest […]

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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 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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