Fuel

Diesel consumption to rise 3%-4% in FY25, says Indian Oil chairman

India's annual diesel demand in April-September, half of this fiscal year, rose 1% to 44.4 million tons, according to government data, even though heavy rains curtailed the movement of trucks

Mexico's Pemex ships first fuel export from new Olmeca refinery to India

The exports offer an important milestone in efforts to start-up Olmeca, but fall short of government promises

China adds 9 million tonnes of new fuel export quotas for rest of 2024

China's product export quotas are watched by the industry as they impact supply and refiners' margins in the region

Nayara Energy sees 14.3% rise in domestic fuel sales, exports drop

Nayara Energy, India's largest private fuel retailer, posted a 14.3 per cent rise in fuel sales for the second quarter of the 2024 calendar year, while exports dropped as the firm met rising local demand for fuel. In the April-June quarter, Nayara sold 75 per cent of all diesel it produced at its Vadinar oil refinery in Gujarat in the local Indian market and 60 per cent of its petrol production locally, Nayara said. Over the past few years, Nayara Energy has steadily built its domestic business while expanding its fuel retailing network strategically to underserved markets that uphold the potential to fuel India's growth. Retail diesel sales rose 14 per cent to 2.08 million tonnes in April-June from 1.82 million tonnes a year back, while institutional business' year-on-year growth was 23 per cent, Nayara said. Similarly, retail petrol sales grew 14.7 per cent to 0.916 million tonnes in the second quarter compared to 0.809 million tonnes a year back. Nayara Energy owns the largest

Engaged with FinMin over review of windfall tax: Petroleum Secretary

Petrol, diesel pump prices may be reduced by OMCs if global crude oil prices remain low

Toyo-India to do FEED for industrial carbon capture project for EET Fuels

EET Fuels, which owns and operates UK's Stanlow oil refinery, on Tuesday said it has appointed Toyo Engineering India Pvt Ltd to carry out the front-end engineering design (FEED) study for its industrial carbon capture project. EET Fuels is investing USD 1.2 billion over the next five years to decarbonise its Stanlow oil refinery in the UK. It is targeting a 95 per cent in emissions by 2030 through energy efficiency, carbon capture and fuel switching. "The company has appointed Toyo Engineering India Pvt Ltd (Toyo-India) (100 per cent subsidiary of Toyo Engineering Corporation, Japan) a leading engineering, procurement and construction company, to carry out the FEED phase - an integral part of the project management process," it said in a statement. Toyo-India will oversee design completion, project de-risking, detailed costing analysis and other vital work. Completion of FEED will enable the company to take final investment decision (FID) on the ICC project. Upon completion (expe

Nitin Gadkari wants states to pitch for GST cut on flex-fuel vehicles

Share of biofuel will be 50% of fossil fuels in five years, says minister

Fuel consumption up by 2.6% to 19.99 mn metric tonnes in June: Oil ministry

India is the world's third-biggest oil importer and consumer. The data is a proxy for the country's oil demand

Hike in fuel prices will ensure funding essential services: CM Siddaramaiah

Karnataka Chief Minister Siddaramaiah on Sunday defended the hike in petrol and diesel prices saying that it will ensure funding essential public services and development projects. With the opposition BJP and its ally JD(S) coming down heavily on the Congress government for increasing the petrol and diesel prices by Rs 3 and Rs 3.5 per litre respectively, Siddaramaiah said even after the hike, taxes on fuel remains low compared to most southern states. "The Government of Karnataka has increased VAT on petrol to 29.84 per cent and on diesel to 18.44 per cent. Even after this hike, our state's taxes on fuel remain lower than most South Indian states and similar economy-sized states like Maharashtra," the Chief Minister said in a statement. According to him, the VAT on petrol is 25 per cent plus Rs 5.12 additional tax, and on diesel in Maharashtra it is 21 per cent. Karnataka's revised rates are still more affordable, he pointed out. "Karnataka's VAT adjustment ensures we can fund ...

India has significant potential for making sustainable aviation fuel: IATA

India has significant potential for producing Sustainable Aviation Fuel (SAF), which can help reduce carbon emissions, global airlines' grouping IATA said on Sunday amid rising air travel. In 2023, the production of SAF stood at around 0.5 million tonnes and the amount has to be increased multiple folds by 2050. The International Air Transport Association (IATA) said it will establish the SAF Registry to accelerate the uptake of the fuel by authoritatively accounting and reporting emissions reductions from the use of the fuel. The registry is expected to be launched in the first quarter of 2025. Seventeen airlines, one airline group, six national authorities, three Original Equipment Manufacturers (OEMs), and one fuel producer are already supporting the effort to develop the registry. Hemant Mistry, Director of Net Zero Transition at IATA, said there is a significant potential for producing SAF in India. "Regions like India have significant opportunities on feedstocks, which can

Sugar mills can use 670,000 tons of B-heavy molasses to make ethanol: Govt

The government has allowed sugar mills to use 6.7 lakh tonnes of B-heavy molasses as feedstock for making ethanol in the current year, a senior Food Ministry official said on Wednesday. Sugar mills were holding excess stock of B-heavy molasses -- a byproduct of the sweetener -- produced before the ban on its use on December 7 last year. However, a week later, the government reversed the ban and allowed the use of cane juice and B-heavy molasses, but within the overall cap of a diversion of 17 lakh tonnes of sugar for ethanol production for the 2023-24 supply year (November-October). "We have permitted sugar mills to use B-heavy molasses lying with sugar mills for ethanol. The same has been communicated to the Petroleum Ministry," the official told PTI. This will be over and above the capped diversion of 17 lakh tonne of sugar for ethanol production for 2023-24, he added. Currently, sugar mills have a B-heavy molasses stock of 6.7 lakh tonnes as per the state cane commissioners. T

India seeks global collaborations to explore use of methanol as ship fuel

An Indian delegation in Singapore has sought to partner with global shipping industry to explore new technologies and the potential of using methanol and ammonia as ship fuels, a senior government official said on Monday. The Indian delegation is here to participate in the Singapore Maritime Week, which is being attended by over 10,000 delegates from around the world. "We are here to seek out collaborations for all new technologies and explore the potential of using methanol and ammonia as ship fuels with the shipping industry stakeholders," Bhushan Kumar, joint secretary, Ministry of Ports, Shipping and Waterways, said on the sidelines of the event. Methanol and ammonia are considered as cleaner alternatives to conventional maritime fuels. Green ammonia and methanol, produced from low-carbon sources, help in reducing carbon emissions. "We have to continue working on green fuel. At this stage it may be commercially not very attractive, but we have to optimize and improve the soluti

India's fuel demand up by 5% y-o-y in FY24, a new financial year record

Fuel demand for FY24 reached a record high of 233.276 million tonnes, up from 223.021 million tonnes the previous year

Rajasthan fuel station operators to begin two-day strike on March 10

Fuel pump stations in Rajasthan will remain shut for two days starting Sunday as the state petroleum dealers association has called for a strike demanding a reduction in value-added tax (VAT) levied on petrol and diesel. The symbolic strike will begin from 6.00 am on March 10 and will continue till 6.00 am on March 12, according to Rajasthan Petroleum Dealers Association. "The Rajasthan government has not reduced VAT on petrol and diesel despite the guarantee of Prime Minister Narendra Modi. Oil companies have also not increased dealer commissions for the last seven. To press for the demands, a strike has been called," Association's President Rajendra Singh Bhati said. As part of the strike, petroleum dealers in the state will neither buy nor sell any fuel. They will also hold a demonstration in the city on Monday, the association said.

India's three-wheelers segment charged up with electric transition

Most of the electric auto drivers charge at homes or at commercial establishments which have charging facilities. Some said they sneak charge at public places such as schools, malls, market places etc

Indian diesel floods to Asia as Houthis attacks impact flows to Europe

There were no imports of diesel-type fuel into the EU in the first two weeks of February and only one shipment into the UK, according to the data

Singapore to impose green fuel levy on flights, passengers to bear costs

Under the European model, the carrier pays for the blended fuel and decides whether the cost will be passed on to passengers in ticket prices

Madras High Court issues set of directions on setting up of fuel outlets

The Madras High Court has directed the Petroleum and Explosive Safety Organisation (PESO) to conduct due enquiry while granting prior site approval and satisfy themselves that the site, where fuel outlets are to be located, satisfy all the criteria mentioned under relevant rules. According to PESO, formerly known as Department of Explosives, it is the nodal agency for regulating safety of hazardous substances such as explosives, compressed gas and petroleum. The first bench comprising Chief Justice S V Gangapurwala and Justice D Bharatha Chakravarthy gave the directive in a recent order while disposing of a Public Interest Litigation filed by advocate VBR Menon, which among other things sought a direction to the authorities to formulate and notify, within a prescribed time limit, appropriate site inspection and verification procedures for adherence while issuing prior site approvals and final explosive licences in Form No.XIV to the Petroleum Retail Outlets. The bench said for ...

Fuel consumption rises 8.2% in January on strong industrial activity

Total consumption, proxy for oil demand, totalled 20.04 mn tonnes in January, up from 18.51 mn tonnes a year earlier, data from Petroleum Planning and Analysis Cell (PPAC) of oil ministry showed

Govt making efforts to keep CNG prices under control: Oil minister Puri

The government is making constant efforts to bring the prices of compressed natural gas under control and has delinked Indian gas prices from four international hubs based in US, Canada, UK and Russia, and aligned them to the Indian crude basket, Oil minister Hardeep Puri informed the Rajya Sabha. Responding to supplementaries during the Question Hour, he said the government is encouraging consumption of compressed natural gas as it is relatively a cleaner fuel. "The government has ensured that while global prices were witnessing turbulence, massive increases and shortfall. Lockdown prices do not reflect reality prices, as during the lockdown crude prices came down to USD 19.56 per barrel and then shot up to USD 128 and USD 130 per barrel. "In April 2023, we rationalised the CNG prices and as a result while global prices shot up, domestic gas price was much lower, 83 per cent lower," the minister told the upper house. "It is our constant effort to provide more gas for domestic cook