Indian Oil profit surges 211% to Rs 5,941 crore in the first quarter of current fiscal on inventory gains

State-run Indian Oil Corporation (IOCL) reported a net profit of Rs 5,941.4 crore on a standalone basis for the quarter ended June 30, recording a 210.9% rise from the same period a year ago. The oil refining and marketing company attributed the increase in profit to inventory gains, stemming from fluctuations in global oil prices and rising […]

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Sale of diesel in India during August 2020 declined by 12% over July 2020: PPAC

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India’s consumption of diesel in August 2020 was 12 per cent lower than the levels recorded in July 2020, indicating a definite slowdown of economy as lockdown curbs in many areas has slowed industrial and commercial consumption. On a year-on-year basis, diesel consumption was down 20.7 per cent to 4.9 million tonnes in August. Diesel […]

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Petroleum products consumption in India slips by 0.6% in January 2020

Domestic consumption of petroleum products in January 2020 slipped by 0.6 per cent year-on-year (y-o-y) to 18.4 million tonnes, mostly on the back of lower sales of diesel, bitumen and fuel oil. According to provisional data by the government’s petroleum planning and analysis cell (PPAC), diesel usage dipped 1.9 per cent to 6.9 million tonnes. In […]

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India’s exports may touch $ 330-340 billion this fiscal: FIEO

India’s exports are expected to touch $ 330-340 billion during the ongoing fiscal on account of uncertain global situation and rising protectionism, exporters body FIEO said on Monday. During April-November, 2019-20, exports dipped by about 2 per cent to $ 212 billion. Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said the global […]

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