Page 4 - Diesel

Hindustan Petroleum to stop buying diesel from other companies next year

Hindustan Petroleum Corporation Ltd (HPCL) will stop buying diesel from companies like Reliance Industries Ltd and Nayara Energy once it completes expansion of its Visakhapatnam refinery in Andhra Pradesh and builds a new one in Rajasthan next financial year, company officials said. HPCL owns almost a quarter of petrol pumps in the country but does not have commensurate oil refining capacity to produce petrol and diesel. So to make up for this, it buys products from refiners such as Mangalore Refinery and Petrochemicals Ltd (MRPL), Reliance Industries' Jamanagar units in Gujarat and Nayara's Vadinar refinery. At an investor call post announcing second quarter earnings, HPCL chairman Pushp Kumar Joshi says the firm's focus on capital spending in the last five years in "strengthening quality and capacity" of assets has "started yielding results now". The company has already expanded its Mumbai refinery capacity to 9.5 million tonnes per annum from 7.5 million tonnes and would complete

Cummins India's Q2 net profit rises 23% rise at Rs 329 cr on lower costs

Cummins India's total expenses fell 5.1% to Rs 1,620 crore on lower cost of raw materials such as aluminium and steel

Govt hikes windfall tax on crude to Rs 9,800 per ton, reduces on diesel

The windfall tax on aviation turbine fuel that had been 1 rupee/liter has been removed, the notification said

India begins producing 'reference' fuel, joins select league of nations

India on Thursday began producing 'reference' petrol and diesel, joining a select league of nations that produce the highly specialised fuel which is used for testing automobiles. Launching the fuel, Oil Minister Hardeep Singh Puri said the start of production of 'reference' fuel is another step towards Aatmanirbhar Bharat (self-reliant India) as it will end imports. These fuels, which have higher specifications, are critical for calibrating and testing by automobile manufacturers and testing agencies like the International Centre for Automotive Technology (ICAT) and the Automotive Research Association of India. For decades, India has relied on imports to meet the demand for these specialised fuels. But now, Indian Oil Corporation (IOC) has indigenously developed products that will replace imports, ensuring a reliable supply at a much lower cost for vehicle manufacturers and testing agencies. Puri said there are only three suppliers of reference fuel in the world including US giant

HPCL aims to cut diesel purchase from other cos following output boost

Vizag refinery will operate at 13.5 mtpa capacity in the current fiscal year and at full capacity of 15 mtpa in the next fiscal, Bharathan said

HPCL aims to cut diesel purchase from other cos following output boost

Vizag refinery will operate at 13.5 mtpa capacity in the current fiscal year and at full capacity of 15 mtpa in the next fiscal, Bharathan said

Crude oil prices hold steady, Russia rolls back diesel export ban

On Friday, Brent futures were down 11 cents, or 0.13%, at $83.96 at 1203 GMT, while U.S. West Texas Intermediate crude futures were down 13 cents, or 0.16%, at $82.18

Shell India hikes diesel prices by Rs 20 per litre in less than a week

Shell India has hiked diesel prices by as much as Rs 20 per litre in less than a week's time, but the dominant public sector fuel retailers continue to keep rates on freeze for a record 18th month in a row. With international oil prices hovering around USD 90 per barrel, the India unit of the world's second-largest oil and gas company last week started raising fuel prices by Rs 4 per litre every day, company dealers and industry sources said. The result is Shell India, whose 346 petrol pumps are mostly concentrated in the southern and western states, is now selling diesel at Rs 130 per litre in Mumbai and Rs 129 in Chennai. Petrol at Shell bunks costs Rs 117-118 a litre. This compares to a price of Rs 106.31 a litre for petrol at public sector company's petrol pumps in Mumbai and Rs 102.63 in Chennai. Diesel at PSU pumps costs Rs 94.27 a litre in Mumbai and Rs 94.24 in Chennai. In Bengaluru, Shell is selling diesel for Rs 122 as compared to Rs 87.92 a litre rate at petrol pumps ow

Russia likely to ease ban on pipeline exports of diesel soon: Report

Energy Minister Nikolai Shulginov said further decisions on fuel market regulation would be published in the near future

Diesel sales down 3% in September, petrol up 5.4% amid receding monsoon

Diesel sales in India fell 3 per cent in September as a receding monsoon continued to dampen demand and slowed industrial activity in some parts of the country, preliminary data of state-owned firms showed. While diesel sales by three state-owned fuel retailers fell year-on-year, petrol sales rose in September. Consumption of diesel, the most consumed fuel in the country -- accounting for about two-fifths of the demand, fell to 5.81 million tonnes in September from 5.99 million tonnes demand in the same period a year ago. Demand dipped by over 5 per cent in the first half of September, and consumption picked up in the second half as rains receded. Month-on-month sales were up 2.5 per cent when compared to 5.67 million tonnes of diesel consumed in August. Diesel sales typically fall in monsoon months as rains lower demand in the agriculture sector, which uses the fuel for irrigation, harvesting and transportation. Also, rains slow vehicular movements. Consumption of diesel had soa

Govt increases windfall tax on petroleum crude, cuts levy on diesel, ATF

The windfall tax on petroleum crude will be raised to 12,100 rupees ($145.65) per ton from 10,000 rupees ($120.37), effective Sept. 30

CAQM grants temporary exemption for diesel gensets for emergency services

This decision comes just two days before the scheduled implementation of GRAP

BIS developed 9 standards for biofuels, working on paraffinic green diesel

Bureau of Indian Standards (BIS) on Monday said it has developed as many as nine standards on biofuels, and is in the process of developing a standard on paraffinic (green) diesel. BIS Director General Pramod Kumar Tiwari said, these standards will significantly complement the objectives of Global Biofuel Alliance (GBA), the multilateral forum announced by Prime Minister Narendra Modi during the G20 leaders' summit held recently in the national capital. "We are committed to support this path breaking initiative of the government through development of relevant Indian Standards and necessary quality parameters/performance specifications," he said in a statement. He said development of standard on paraffinic (green) diesel, that is derived from second generation (2G) feedstock, is also under progress. BIS is a national standards body of India that works under the aegis of the Food and Consumer Affairs Ministry. According to the BIS, the USA, Brazil, and India are the major producers

World's oil refiners are struggling to make enough diesel: Here's why

While oil futures are rocketing - on Friday they were just below $95 a barrel in London - the rally pales in comparison with the surge in diesel

Diesel sales fall in September amid rains, petrol consumption up in India

Diesel sales in India fell for the second straight month in September as rains dampened demand and slowed industrial activity in some parts of the country, preliminary data of state-owned firms showed. While diesel sales by three state-owned fuel retailers fell year-on-year in the first half of September, petrol sales were up marginally. Consumption of diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 5.8 per cent to 2.72 million tonnes between September 1 and 15, compared to the year-ago period. Consumption had fallen by a similar proportion in the first half of August. Month-on-month sales were up 0.9 per cent, when compared with 2.7 million tonnes of diesel consumed in the first half of August. Diesel sales typically fall in monsoon months as rains lower demand in the agriculture sector which uses the fuel for irrigation, harvesting and transportation. Also, rains slow vehicular movements. Consumption of diesel had soared 6.7 per

As winter looms, global diesel market is already pricing in a scarcity

The good news is that the market looked even worse this time last year following Russia's invasion of Ukraine - and prices ultimately came down, helped by a relatively mild winter

Railways aim to save 200k litres diesel a day by electrifying pit lines

A senior government official said that the railways will substitute fossil fuels with grid electrification at all 411 maintenance pits by December 2023

Heavy rains dampen Indian retailers' gasoil, gasoline monthly sales in July

Fuel demand in India, the world's third-biggest oil importer and consumer, typically falls during the four-month monsoon season beginning in June as parts of the country are affected by heavy floods

DEEFCC secy asks employees to discard petrol, diesel vehicles once a week

The Department of Environment, Forest and Climate Change (DEFCC) of Bihar government on Tuesday asked its all officials to discard the use of petrol/diesel vehicles at least once in a week in their official work. DEFECC secretary Bandana Preyashi in a circular to officials requested them to use electric vehicles, bicycles or rickshaws at least once in a week in their official work. "Keeping the rising level of vehicular pollution in mind, we must take the initiative to save the environment. All officials and employees of the department are requested to use fuel-efficient vehicles at least once in a week for official work from August. We must discard the use of 'petrol/diesel vehicles' at least once in a week for our official work. We should use electric vehicles, bicycles, rickshawsor if possiblewe can walk to our offices also," Preyashi said in a circular to all employees of the department. Talking to PTI, Preyashi said "We have collectively decided to discard use of 'petrol/diesel

After outlier record high global diesel cracks in 2022, margins plunge

Russia's invasion of Ukraine in February last year pushed diesel and petrol cracks to record in the following quarter, giving oil refiners globally unprecedented profits but they have crashed this year, denting refiners' profits. A crash in global cracks in April-June this year will shrink profits of refiners when compared with the outlier period of last year, an analysis of data and industry experts said. Rising demand, low inventories and oil market disruption centered around Russia's invasion of Ukraine pushed cracks -- the differential between a barrel of crude oil (raw material) and the petroleum products refined from it -- upwards starting March last year. Diesel cracks shot to over USD 30 per barrel and petrol inched closer to USD 20 and the upward trajectory continued in April-June quarter. Diesel cracks in June last year soared to USD 74.95 a barrel while petrol cracks neared USD 42. Jet fuel cracks soared to USD 62. An analysis of data for past five years showed petrol ..