Page 5 - Fuel

Fuel retailers setting up convenience stores, cafes to attract footfall

Convenience retail is being driven by infrastructure development and a rise in the number of highways and expressways, executives said

People buying fuel, jewellery, grocery to offload Rs 2,000 notes: Survey

Fuel, jewellery and daily groceries are the top three preferred items for people to offload their Rs 2,000 currency notes post the RBI's announcement of withdrawing the currency note from circulation, revealed a new survey. The pan-India survey, conducted by location-based social network Public App, also found out that a whopping 55 per cent of people are planning to deposit their currency notes at the bank, while 23 per cent and 22 per cent are planning to spend them and get them exchanged, respectively. The Reserve Bank of India (RBI) on May 19 made a surprise announcement of the withdrawal of Rs 2,000 currency notes but gave the public time till September 30 to either deposit the Rs 2,000 notes in accounts or exchange them at banks. In about two weeks, almost half of the Rs 2,000 currency notes in circulation, worth around Rs 1.8 lakh crore, came back to the banking system, the RBI informed recently. The poll results, shedding light on the citizens' perspective and providing ...

Smartphones break into top-5 club in exports; value nearly doubled in FY23

Up from 9th spot in HS code ranking

Lanka signs petroleum pact with US fuel firm to ensure steady fuel supply

In a bid to address the forex crisis and ensure a steady supply of fuel, Sri Lanka on Thursday signed a deal with an American oil firm, allowing it to become the fourth player in the island nation's fuel retail business, which used to be a state monopoly. According to a statement, the US firm, RM Parks, in collaboration with Shell, will be involved in a long-term contract for the importation, storage, distribution and sale of petroleum products. An agreement was signed on Thursday at the Presidential Secretariat, between the Government of Sri Lanka and RM Parks Inc., a prominent international company operating in collaboration with Shell, marking a significant step towards securing a long-term contract for the importation, storage, distribution, and sale of petroleum products in the country. This development comes after the Ministry explored various strategies to overcome the challenges posed by the foreign exchange crisis and guarantee a continuous fuel supply to consumers, an ...

Fuel margins turn positive, price cut will have to wait: Offcials

Margins on petrol and diesel have turned positive following softening of international oil prices but a revision in retail prices may happen only after state-owned oil firms recoup losses they incurred last year, officials said. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have temporarily abandoned the daily price revision since last year and have not revised petrol and diesel prices in line with the cost. And the losses they incurred when the oil prices were higher than the retail selling prices are now being recouped with rates dropping. Officials said the three firms have been making positive margins on petrol since the fourth quarter of the 2022 calendar year but diesel, which accounts for the bulk of the fuel sales, had been in red. But last month, margins on diesel turned positive with a small 50 paise a litre profit, they said, adding, this, however, was not enough to make up for the past ...

India's May fuel demand rises 8% month-on-month to about 20.03 mn tonnes

Sales of gasoline rose 16.4% to 3.35 million tonnes and sales of diesel increased around 5% to 8.22 million tonnes in May

Govt expects people to move towards e-cooking to capitalise on power supply

The government expects people to move towards electric cooking (e-cooking) as the nation now has a 24x7 electricity supply in households, according to an official. "We want to move towards e-cooking since we have 24/7 electricity in our households," Additional Secretary Power Ajay Tewari said while addressing a conference organised here. He pointed out that India has, in just 18 months, given Saubhagya (scheme) connections to 26 million households who did not have electricity access. Never before in the history of the world has so many households been given electricity connection in such a short time, he noted. "We are supplying energy for 23.5 hours in all urban areas and 23 hours, and more in rural areas. It is a big achievement that the age of power cuts is behind us," a power ministry statement quoted Tewari as saying. He also informed that 700 million people in the world, however, still do not have access to electricity, and universal energy access is one of the priorities of

Transport sector accounts for 40% of pollution, need greener fuel: Gadkari

Addressing the GH2 summit in Mumbai, the minister urged the industry to develop greener fuel alternatives to tackle the problem

Jio-bp launches diesel that will save of Rs 1.1 lakh per truck yearly

Jio-bp on Tuesday announced the launch of its diesel with Active technology, set to elevate diesel standards for Indian consumers.

India sets deadline of 2035 to establish green hydrogen bunkering

NEW DELHI (Reuters) - India has set a deadline of 2035 to establish green hydrogen bunkering and refuelling facilities at major ports in the drive to cut its carbon footprint, the shipping ministry said in guidelines issued on Wednesday.

India's diesel sales soar, overall fuel consumption eases in April

Consumption was down to about 18.41 million tonnes from 18.45 million a year ago

Essar Oil & Gas invests in microbial eCBM technology to boost CBM output

Essar Oil and Gas Exploration and Production Ltd (EOGEPL) on Monday announced an investment in microbial eCBM technology to boost coal-bed methane (CBM) production from its CBM block in West Bengal. The company, which has so far invested Rs 5,000 crore in finding and producing gas from coal seams, called CBM, plans to invest an additional Rs 2,000 crore to enhance its reserve base and ramp up CBM production to contribute at least 5 per cent to India's total gas production, EOGEPL said in a statement. It has drilled about 350 wells on its Raniganj Block in West Bengal and is currently producing nearly 0.9 million cubic meters of gas per day. Investment in microbial eCBM technology will help raise the output by raising the recovery rate. "EOGEPL has collaborated with The Energy & Resources Institute (TERI) and ONGC Energy Centre (OEC) to establish the potential of eCBM microbial technology in the Raniganj-East Block of the company. "The feasibility test of the technique has been ...

Stepping on the gas: CNG fuel of choice in green mobility quest

Though EVs have fast gained traction; CNG vehicle sales are up 82% in 5 years

India can play leading role in sustainable aviation fuel, says Aditya Ghosh

Akasa Air Co-Founder Aditya Ghosh on Monday said India can play a leading role with respect to sustainable aviation fuel by plugging into the global supply chain opportunities. Airlines and airports will be pushed to take sustainable measures, he said but added that currently, sustainable aviation fuel is much more expensive compared to the traditional fuel. Ghosh, an aviation industry veteran and former IndiGo chief, was speaking at the CAPA aviation summit in the national capital. There is a gap of around USD 350 million in terms of funding between traditional aviation fuel and 10 per cent blended fuel, he said. According to him, India can plug into the global supply chain opportunities in the context of Sustainable Aviation Fuel (SAF). India can play a leading role in solving the problems for the world, he added. In this context, blended fuel means 10 per cent of SAF blended with traditional fuel. The government is working on mandating blending of jet fuel with SAF as the coun

Govt may extend diesel, gasoline export curbs beyond March 31: Report

The extension of rules may discourage some Indian refiners, mainly private companies, from buying Russian fuels for re-exports to countries

SCO countries agree to closely work together on emerging fuels

Move will see China, Russia, others collaborate with India on emerging fuel tech, energy modelling, and transition goals

A sugar rush for emissions: Is ethanol-spiked fuel a sweet solution?

Rising compliance with ethanol-spiked fuels in vehicle could be a win-win situation all round

Explained: Why Indian consumers don't gain from Russian crude oil

Supplies from Russia come at a substantial discount to global prices, but Indian pump prices have remained unchanged for nearly ten months

Crisis in multilateralism affecting developing nations most: PM at G20 meet

Modi also pointed out how global supply chains have broken down during times of stress and turmoil

Explained: Why is govt focussed on creating a global biofuel alliance?

The United States and Brazil has been among the early proponents of the alliance