Oil prices have continued their descent in the face of a global supply glut. PwC's UK head of oil and gas told Bloomberg's Tom Mackenzie the winners and losers of cheap oil are becoming increasingly clear. (Source: Bloomberg)

Big winners and losers in a world with cheap oil

The world's biggest automaker manufactured 869,230 vehicles globally in November, down 6.2 per cent from the same month last year

State-owned Indian Oil Corporation Ltd (IOCL) will invest Rs 61,000 crore to set up a naphtha cracker project at Paradip in Odisha, a statement said on Tuesday.
A Memorandum of Understanding (MoU) for this will be signed between the Odisha government and the IOCL in January during the 'Utkarsh Odisha  Make in Odisha 2025' summit, it said.
The foundation stone of the IOC's upcoming Rs 4,352 crore yarn project at Bhadrak will also be laid at that time, it added.
The decisions were taken at a meeting between Chief Minister Mohan Charan Majhi and IOCL Chairman AS Sahney in Bhubaneswar.
"The Naphtha Project in Paradeep has received in principle approval and IOCL will invest over Rs 61,000 crore for the project. It is likely to be one of the largest projects in the sector in the country. The State Government is an equity holder of this project, and will earn dividends in addition to taxes," said the statement issued by the Chief Minister's Office.
"It was also decided that, the foundati

The decisions were taken at a meeting between Chief Minister Mohan Charan Majhi and IOCL Chairman AS Sahney in Bhubaneswar

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Healthcare industry body NATHEALTH has asked the government to address systemic gaps such as acute shortage of medical specialists, escalating cancer care costs, and inadequate hospital infrastructure to meet the demands of a growing population in the upcoming union Budget.
In its pre-Budget recommendations, NATHEALTH sought increasing budgetary allocations of the healthcare sector to over 2.5 per cent of GDP and asked Finance Minister Nirmala Sitharaman to address the growing burden of communicable and non-communicable diseases, compounded by long standing challenges.
"The upcoming Union Budget offers an unprecedented chance to address systemic gaps such as the acute shortage of medical specialists, escalating cancer care costs, and inadequate hospital infrastructure to meet the demands of a growing population," NATHEALTH President Abhay Soi said in a statement.
Soi, who is also the Chairman & Managing Director of Max Healthcare Institute Ltd, further said, "Expanding hospital ...

In its pre-Budget recommendations, NATHEALTH sought increasing budgetary allocations of the healthcare sector to over 2.5 per cent of GDP

Job creation, improving farm productivity, and mobilising public funds for infrastructure development were some of the issues that figured during the interaction between Prime Minister Narendra Modi and economists ahead of the 2025-26 Union Budget.
The Prime Minister on Tuesday met eminent economists and sectoral experts at NITI Aayog to hear their views and suggestions for the upcoming Budget.
Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2025-26 in the Lok Sabha on February 1, 2025.
According to an official statement, the Prime Minister emphasised that Viksit Bharat can be achieved through a fundamental change in mindset, which is focused towards making India developed by 2047.
The participants shared their views on several issues, including navigating challenges posed by global economic uncertainties and geopolitical tensions, strategies to enhance employment particularly among the youth, and create sustainable job opportunities across ...

Prime Minister Modi emphasised that Viksit Bharat can be achieved through a fundamental change in mindset, which is focused towards making India developed by 2047

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Big winners and losers in a world with cheap oil

Oil prices have continued their descent in the face of a global supply glut. PwC's UK head of oil and gas told Bloomberg's Tom Mackenzie the winners and losers of cheap oil are becoming increasingly clear. (Source: Bloomberg)

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