Page 4 - Petroleum

April exports up 24% at $38 bn on petro products, electronics push

Imports during the month under review grew 26.55% to $58.26 billion

India's exports rise by 37.57% to $9.32 bn in 1st week of 2022-23

Export excluding Petroleum, has increased in this period by 24.32% over same period of 2020-21 and up by 392.46% over same period of 2019-20

Indian Oil to invest Rs 840 crore to set up plant, raise storage capacity

Indian Oil Corporation on Sunday said it will invest nearly Rs 840 crore in expanding its Petroleum, Oil and Lubricant storage capacities, including setting up a greenfield facility, in the Northeast

Exim Bank extends LOC of $500 mn to Sri Lanka for buying petro products

Export-Import Bank of India (Exim Bank) Thursday said it has extended a line of credit of $500 mn to Sri Lanka for financing the purchase of petroleum products.

Pearl Harbor military families alarmed after fuel detected in tap water

The Navy said on Thursday that tests had identified petroleum in its Red Hill well, which taps into an aquifer near the base

Hawaii: Petroleum detected in tap water sample near Pearl Harbor

The Hawaii State Department of Health said a laboratory has detected petroleum product in a water sample from an elementary school near Pearl Harbor

Will oil prices cool off after tapping Strategic Petroleum Reserves?

The US will release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to control oil prices. But will this be enough? Let's find out

Quick analysis of petroleum's contribution to Centre and states' exchequer

Petroleum's share of taxes not included in GST rose to 20% in FY20. While 40% of this should go to the states, the Centre has been raising cess on petroleum, which isn't shared with states

Will GST be structurally overhauled at the Council's meeting in Lucknow?

Apart from fewer slabs, the council will do well to take on issues like bringing petroleum under GST, addressing conflicting rulings of AARs and the issue of compensation to states beyond 2022

Petroleum Minister Puri to meet Russian counterpart in Vladivostok

India-Russia to review and examine expanding bilateral energy cooperation in energy sector

Indian Oil asks Gujarat pump dealers to desist from one-day weekly protest

According to the letter by Indian Oil, the protest is causing inconvenience the public

Year after Baghjan blowout, oil and gas operations in India much safer

The safety measures have been recommended by a three-member committee of the ministry of petroleum and natural gas

India overhauls petroleum reserve policy to boost private interest: Report

India, world's third-biggest oil importer and consumer, imports over 80% of its oil needs, has built strategic storage at three locations in southern India to store up to 5 million tonnes of oil

India plans $60 bn investment in gas infrastructure until 2024: Pradhan

Currently, gas accounts for 6 per cent in the country's total energy mix

Egypt aims to become self-sufficient in petroleum products within 3 years

Egypt plans to reach self-sufficiency in petroleum products in 2023, the country's Minister of Petroleum and Mineral Resources Tarek El Molla has announced

Manali Petrochemicals to invest Rs 150 crore in capacity expansion

In the first phase 24,000 TPA would be added at a cost of around Rs 60 crore, to be met through internal resources

PM Narendra Modi to inaugurate 3 petroleum projects in Bihar on Sunday

Prime Minister Narendra Modi will inaugurate an LPG pipeline project and bottling plants in Bihar on Sunday as the government pushes its development agenda in the poll-bound state. The projects include the Durgapur-Banka section of the Paradip-Haldia-Durgapur pipeline project and two LPG bottling plants, an official statement said. Bihar Chief Minister Nitish Kumar will also be present on the occasion. The 193-km long Durgapur-Banka pipeline section, built by state-owned Indian Oil Corp (IOC), is a part of the Paradip-Haldia-Durgapur Pipeline Augmentation Project, for which the foundation stone was laid by the Prime Minister on February 17, 2019. Durgapur-Banka section is the extension of the existing 679-km long Paradip-Haldia-Durgapur LPG pipeline to the new LPG bottling plant at Banka in Bihar. The pipeline of 14-inch diameter passes through West Bengal, Jharkhand and Bihar. While LPG is presently injected into the pipeline at IOC's Paradip and Haldia refineries, the completio

Petrol prices at Rs 81.94 per litre in 11th hike in 13 days, diesel holds

In the international market, crude price has also remained firm with benchmark Brent crude hovering close to $46 a barrel

Economic recovery to push sales tax from petroleum products by 9%: Crisil

"There could be a 7-9 per cent on-year rise in sales tax receipts to Rs 1.96 trillion, despite an expected 25 per cent fall in collections in the first quarter on-year," it said in a note

Higher inflation may not be a bad thing at this point

Version II of ad hoc treasury bills needed, and time for this solution to work is between now and October