Page 3 - Fuel Imports

India's fuel consumption rises 9.3% in October to 19.2 million tonne

Consumption of fuel hit 19.2 million tonnes (mt) in October, up from 18.2 mt in the same month last year

Fuel shortage unlikely but disruption in oil supplies, price hikes possible

Fifty years after the 1973 Arab oil embargo, the current crisis in the Middle East has the potential to disrupt global oil supplies and push prices higher. But don't expect a repeat of the catastrophic price hikes and long lines at the gasoline pump, experts say. The Israel-Hamas war is definitely not good news for oil markets already stretched by cutbacks in oil production from Saudi Arabia and Russia and expected stronger demand from China, the head of the International Energy Agency said. Markets will remain volatile, and the conflict could push oil prices higher, "which is definitely bad news for inflation, Fatih Birol, executive director of the Paris-based IEA, told The Associated Press. Developing countries that import oil and other fuels would be the most affected by higher prices, he said. International benchmark Brent crude traded above $91 a barrel on Thursday, up from $85 per barrel on Oct. 6, the day before Hamas attacked Israel, killing hundreds of civilians. Israel ...

August fuel consumption perks up by 6.5% on strong manufacturing

India's factory growth accelerated at the fastest pace in three months in August, driven by strong growth in new orders and output, according to a private survey

MRPL to phase out exports in next 2-3 years as it adds retail outlets

MRPL's exports, previously 2-3 cargoes each of diesel and jet fuel monthly, have suffered in the last six months as maintenance shutdowns at other refiners raised demand for its fuel

India's July fuel demand up 1.9% YoY to 18.09 mn tonnes: Oil ministry data

Sales of gasoline fell 5.3% to 2.99 million tonnes and sales of diesel decreased around 13% to 6.89 million tonnes in July from the previous month, the data showed

India's fuel price paradox: Global prices lower but pump rates still high

Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers

Petrol, diesel prices remain largely unchanged, check prices in your city

It is important to note that Oil Marketing Companies review and decide the fuel prices every day at 6 am in the morning

India's exports to UAE likely to grow by 60% to $50 billion by FY27

Officials expect exports to touch $50 billion during the same period

Hungarian PM vows to block sanctions against Russia to safeguard interests

In the foreseeable future, Hungary would remain dependent on fossil fuel imports from Russia, and he was optimistic that Russia would prove reliable supplier, Xinhua news agency quoted Orban as saying

Bangladesh pvt power producers seek $1bn foreign currency to import fuel

Analysts expect power cuts in Bangladesh to worsen this year, as a rapid decline in the value of its currency and foreign exchange reserves have limited its ability to import power generation fuels

India's monthly fuel demand slips to 10-month low in September: Govt

India's monthly fuel demand in September was at the lowest since November 2021, government data released on Friday showed.

Centre aims to boost refining capacity as fuel demand continues to rise

The oil ministry has been asked by the government to prepare a report on the country's future fuel demand and refining capacity needs

Inflation hits 9.1% in countries using euro currency as fuel prices soar

Inflation in the European countries using the euro currency hit another record in August, fuelled by soaring energy prices mainly driven by Russia's war in Ukraine. Annual inflation in the eurozone's 19 countries rose to 9.1% in August, up from 8.9% in July, according to the latest figures released Wednesday by the European Union statistics agency. Inflation is at the highest levels since record-keeping for the euro began in 1997. Energy prices surged 38.3%, while food prices rose 10.6%. Prices for goods were up 5% and the cost of services rose 3.8%.

India's shaky energy security and growing dependency on foreign fuels

New Delhi is yet to announce a comprehensive and detailed policy across the energy spectrum to tackle this very real threat to economic growth

South China Sea conflict threatens 90% of Australia's fuel imports: Study

Conflict in the South China Sea threatens 90% of Australia's fuel imports: study

Gadkari stresses on alternative fuels to minimise oil import, pollution

Union minister Nitin Gadkari on Thursday pitched for the use of alternative fuels for vehicles to reduce the import of crude oil as well as cut down on pollution. As much as 35 per cent of the pollution in the country is due to diesel and petrol, Gadkari said, adding, "this is why we need import-substituting, cost-effective and pollution-free and indigenous products". At the launch of the country's first electric double decker air-conditioned bus, the Minister for Road Transport and Highways said that electric automobiles are greatly cost effective when compared to diesel ones. "In the Indian situation, import of crude oil is a big challenge. We are already experiencing the way rates are increased. It is also very difficult for the common man...," he said. According to him, it is time to start using alternative fuels like electricity, ethanol, methanol, bio-diesel, bio-CNG, bio-LNG and hydrogen for the automobile sector. Further, he said the current size of the Indian automobile .

SL to restrict fuel imports for one year amid worst economic crisis: Min

All petrol station owners of CEYPETCO and LIOC have been asked to adopt QR system immediately and distribution will be strictly enforced to fuel stations, says minister

The emerging stress in imports: Surprisingly, it's coal more than oil

Surprisingly, its coal more than oil that is emerging as a huge pressure point

Sri Lanka needs to pay $587 mn for planned fuel imports, says minister

Sri Lanka needs to pay USD 587 million to several foreign oil companies for planned fuel imports until mid-August, said Sri Lankan Minister of Power and Energy Kanchana Wijesekera on Sunday."Sri Lanka has to make the payments of USD 587 million to several foreign oil companies from Monday for different shipments of fuel," Wijesekera said.As of now, the state-owned fuel importer and distributor Ceylon Petroleum Corporation is left with 12,774 metric tons of diesel, 1,414 metric tons of 92 octane petrol, 2,647 metric tons of 95 octane petrol, 233 metric tons of super diesel, 500 metric tons of jet fuel and 29,000 metric tons of furnace oil in its stock, Xinhua reported.Notably, three ships containing petrol and diesel are expected to reach the country this month and another in August the Chairman of Lanka IOC, the subsidiary of Indian Oil Corporation, said on Saturday as it will give relief to the people facing fuel shortages.One ship is expected to arrive between July 13 and 15 and ...

India steps up fuel imports amid shortage; Asia's pool of supplies shrinks

Rush to import petrol and diesel has already led to a surge in regional refining margins