Page 6 - Fuel

Govt may consider fuel, maize tax cuts to control climbing retail inflation

The Indian government could consider reducing taxes on some items such as maize and fuel in response to the central bank's recommendations to help rein in climbing retail inflation

Refining troubles: Huge sanctions looming for fuel that powers the world

India's role in supplying Europe is notable because it has become one of the biggest buyers of discounted Russian crude since the war broke out

Green hydrogen pilot to cover steel, transport and shipping sectors

The mission has proposed pilot projects for replacing fossil fuels and fossil fuel-based feedstocks with Green Hydrogen and its derivatives

Petrol blended with 20% ethanol from April 1, says Hardeep Singh Puri

Says India will contribute 25% to global ethanol demand by 2040

Oil firms making Rs 10 a litre profit on petrol, Rs 6.5 loss on diesel

Oil companies are selling petrol at a profit of Rs 10 per litre but retail prices haven't been reduced as they recoup past losses and make up for a Rs 6.5 a litre loss on diesel, a report said. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have for the past 15 months not revised petrol and diesel prices in line with the cost. They have times of low oil prices to recoup losses incurred when rates were high. "Post record high losses of Rs 17.4 per litre on petrol and Rs 27.7 a litre diesel for the week ended June 24, 2022, margins for petrol are estimated at a positive Rs 10 per litre for Q3 (October-December 2022) while diesel losses too have likely narrowed to Rs 6.5 a litre for the same quarter," ICICI Securities said in a report. The three fuel retailers haven't changed petrol and diesel prices since April 6, 2022, despite input crude oil prices rising from USD 102.97 per barrel that month to USD ..

Russia's Rosatom sends 'more advanced' fuel option for Indian nuclear plant

Russia's state-owned nuclear energy company Rosatom earlier this year sent a "more advanced" fuel option for a nuclear power plant in southern India, an Indian government minister told parliament

Elon Musk cries foul over flight data that's readily available on the net

People who for security or privacy reasons don't want their location known can opt for FAA to screen their aircraft's identity

Promote felx-fuel vehicles to tread crude oil price fluctuation: Gadkari

Union minister Nitin Gadkari on Monday said that the country needs to promote flex-fuel vehicles and e-mobility to tide over the problems created by wide fluctuations in crude oil prices in the international market. Addressing an event organised by SIAM (Society of Indian Automobile Manufactures), Gadkari further said that the aviation sector is also facing problems due to the high cost of aviation fuel. "Every year, (wide) fluctuations in crude oil prices are creating lots of problems...We need to march towards adoption of 100 per cent flex fuel vehicles," he said. Flex-fuel compatible cars can run on more than one type of fuels and also on a mixture. Typically, a blend of petrol and ethanol or methanol is used. The road transport and highways minister pointed out that 40 per cent of pollution in India is because of the use of fossil fuels. Noting that there is a need to encourage technology to convert waste to wealth, he said, "we are encouraging lots of industries to start ...

China announces to provide free fuel to farmers, fishermen in Sri Lanka

Over 12,32,749 farmers will be provided with fuel and over 3,796 fishing vessels in Sri Lanka

Nayara Energy exports 80% of fuel to Asia, Africa; none to EU: Official

Nayara Energy, India's second-largest private oil refinery, exported over 80 per cent of all its fuel exports to Asia, the Middle East and Africa during the first seven months of the current fiscal, with only minuscule volumes going to the UK and none to the EU, a company official said. Nayara, which operates a 20 million tonnes a year oil refinery at Vadinar in Gujarat, exported 4.46 million tonnes of petroleum products including diesel, jet fuel and gasoline from April 2022 to October 2022, a company spokesperson said. The bulk of the fuel it produces at Vadinar is used for sale through its 6,648 petrol pumps - the largest network by any private company - in the country and institutional sales. The company is primarily focused on catering to the domestic market through institutional business, sales to other oil companies and through its own retail chain. "India, structurally, is long on diesel and the same is to be exported after satisfying domestic demand," the spokesperson ...

Alternative fuel start-up Buyofuel raises Rs 11.5 cr in series A funding

The funds raised will be put towards expanding the company's services across geographies, development of product offerings as well as technology

Centre ready to bring petrol and diesel under GST: Hardeep Singh Puri

The Centre is ready for bringing petrol and diesel under the GST regime but it is unlikely that the states will agree to such a move, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Monday. For bringing the petrol and diesel under the GST, the states have to agree. If the states make the move, we are ready. We have been ready all along. That's my understanding. It is another issue how to implement it. That question should be addressed to the finance minister, Puri told reporters here. The minister, however, pointed out that it is unlikely that the states will agree to such a move as liquor and energy are revenue generating items for them. It is not difficult to understand, they (states) get revenue out of this. One who is getting revenue, why would he leave it? Liquor and energy are two things that generate revenue. It is only the Central government which is worried about inflation and other things, he added. The Union minister said the Kerala High Court had suggested

India saved over $4 bn in fuel costs through solar power till June: Report

Japan saw the second-highest impact, with $5.6 billion in avoided fuel costs thanks to solar power generation alone

How govt's tight control is slicing away Coal India's creamy layers

Larger shares of the state-owned miner's production are sold significantly below global benchmark prices, deterring global investors from participating in divestment plans

October fuel demand rises 3.4% year-on-year to 18.37 million tonnes

Sales of bitumen, used for making roads, were 11.5% lower, while fuel oil use edged up 0.9% in October

One in every 10 petrol pumps in India now offering CNG, EV charging

India has about 84,600 fuel retail outlets, of which 8,900 offer alternative fuels such as CNG, auto LPG or EV charging facilities

Fuel sales soar 22%-26% in Oct on festive season demand: Industry data

India's fuel sales soared in the first half of October with an across-the-board surge in transportation fuel demand on the back of the economic activity picking up as festival season kicked in, preliminary industry data showed. Petrol and diesel sales jumped 22-26 per cent year-on-year while also rising month-on-month in the first half of October. Petrol sales soared 22.7 per cent to 1.28 million tonne during October 1-15 when compared to 1.05 million tonne of consumption in the same period last year. Sales were 31 per cent higher than COVID-marred first half of October 2020 and 33.4 per cent more than pre-pandemic October 1-15, 2019. Demand was 1.3 per cent higher than the first half of September 2022. Diesel, the most used fuel in the country, posted a near 27 per cent rise in sales in the first fortnight of October to 3.08 million tonne when compared to the same period last year. Consumption was up 16 per cent over October 1-15, 2020 and 26.6 per cent higher than pre-COVID 2019

IMF looks at ways to help countries affected by global food shock

About 50 nations meet the criteria, with 20 to 30 being in need "immediately," Georgieva said

Mumbai taxi and auto drivers to go on an indefinite strike from Sep 15

Over 200,000 autorickshaw drivers and 48,000 taxi drivers are expected to join the indefinite strike

NASA Artemis I: Fuel seals repaired, likely to launch moon rocket on Sep 23

NASA had to scrub two launch attempts as the rocket experienced technical glitches, including a fuel leak