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Indian crude Oil
INDIAN CRUDE OIL NEWS
Top 10 largest oil-producing and consuming countries — Know where India stands
December 30, 2024 8:29 am
Top 10 largest Oil Producing and Consuming countries: India is the world's third-largest oil consumer, utilising around 5.05 million barrels per day and accounting for 5% of the global share, according to the EIA.
Oil imports from Russia stable in Feb, little room seen for volume growth
March 02, 2024 9:30 am
A combination of reasons — including a drop in Sokol crude purchases by Indian refiners, narrowing discounts on Russian crude, increasing cost of freight and risk premiums amid the Red Sea crisis, and a rising number of tankers being sanctioned by the United States for G7 price cap violations — indicate low possibility of growth in India’s Russian oil imports over the next few months.
In monthly review, FinMin keeps FY24 growth outlook at 6.5%
September 23, 2023 5:10 am
Improved corporate profitability, private capital formation, bank credit growth and construction sector activity are the “bright spots”, it said.
Alumina exports to Russia surge as others avoid sale to Moscow
May 11, 2023 6:06 am
From nil, India exports 2.58 lakh tonnes in 11 months; Russia 3rd largest buyer
Oil import bill doubles to $119 bn in FY22 as energy prices surge
April 25, 2022 5:38 am
India, the world’s third biggest oil consuming and importing nation, spent $119.2 billion in 2021-22 (April 2021 to March 2022), up from $62.2 billion in the previous fiscal year, according to data from the oil ministry’s Petroleum Planning & Analysis Cell (PPAC).
FY22: Crude output slides 2.6%, natural gas production up 18.7%
April 21, 2022 6:01 am
Total crude output for financial year 2021-22 was 29.7 million tonnes (MT). India’s crude production has declined steadily from 35.9 MT in FY15 as production from ageing oil fields has fallen.
Fuel prices need to be brought in line with market conditions. Elevated inflation will further restrict RBI’s room for manoeuvre
March 24, 2022 9:07 am
The decision to keep retail prices on hold, despite surging global crude oil prices, and leaving oil marketing companies to absorb the losses does suggest that fuel pricing decisions continue to be driven not by commercial considerations, but by political compulsions.
Oil drop: Crude slide notwithstanding, retail prices remain viscous
November 25, 2015 7:01 am
Reasons include a progressive increase in the tax component on petrol and diesel as a percentage of retail prices, oil firms beefing up margins and depreciation of the rupee.
Pranab rules out rollback of petrol price hike
May 22, 2011 1:42 am
Mukherjee had projected a growth rate of 9 per cent in the current fiscal in the Budget 2011-12
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