Page 3 - Fuel Imports

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

Polluting, expensive: No end in sight to price India pays for imported coal

With domestic production targets slipping, India needs to buy record quantities of the world's most polluting fuel at a time when prices are rising

Sri Lankan cabinet permits companies to import fuel as crisis worsens

The country ran out of fuel as only 1,100 tonnes of petrol and 7,500 tonnes of diesel are left, which are not sufficient to last for a day.

Sri Lanka PM hints at opting for fuel rationing amid economic crisis

The next three weeks are going to be "tough" for Sri Lanka over fuel supplies, PM warned, indicating that the country, which needs $3,300 million for fuel imports, may opt for its rationing

Govt exploring Rupee-Rouble payment for fuel import amid sanction: Report

The government is exploring a payment mechanism for the import of oil from Russia in view of the sanctions imposed by the US and European countries following Moscow's attack on Ukraine.

Sri Lanka PM assures parliament of sufficient fuel stocks till mid-June

Sri Lanka Prime Minister Wickremesinghe on Thursday assured the country's lawmakers that the island nation has been able to secure sufficient stocks of diesel and petrol which will last till mid-June.

India's fuel sales moderate in April, fall 4% MoM at 18.6 mn tonnes

(Reuters) - India's fuel consumption moderated and slipped 4% in April from the previous month, data showed on Tuesday, as elevated domestic prices slowed activity

Oil, toil and turmoil

India's geological potential remains largely unexplored because of policy hostility and high-handed taxation rather than the lack of expertise

Sri Lanka to exhaust $500 million Indian fuel credit line by April end

The $500 mn credit line provided by India for fuel will be exhausted after the delivery of another 120,000 tons of diesel and 35,000 tons of petrol to Sri Lanka in the remaining period of this month.

Sri Lanka's economic crisis deepens; cabinet ministers offer to resign

The debt-laden country is struggling to pay for imports of fuel and other essentials due to a severe shortage of foreign currency

US officials eye fuel supply for commercial advanced nuclear reactors

The development of commercial advanced nuclear reactors will need a better supply of the right type of nuclear fuel, U.S. officials said

China so far non-committal to Washington's oil release, OPEC+ unmoved

US plans to release millions of barrels of oil from strategic reserves in coordination with other large consuming nations, including China, Japan and India.