BUSINESS
India’s LNG import dependency deepens to 51% in Apr-Nov amid higher consumption
The country imported 24,798 million metric standard cubic metre (MMSCM) of LNG from April to November 2024, 21 percent higher than the last year. The higher imports come on the back of increased gas consumption in the period, rising 10.41 percent from last year at 48,682 MMSCM.
BUSINESS
Yearender: Crude oil prices driven by geopolitical tensions, demand from China
Oil demand growth in the next year to be likely in line with the tepid increase seen in 2024.
BUSINESS
Oil & gas import bill dips 27% in Nov as crude price skids, petro product export value soars
The lower import bill comes despite higher import of crude oil and LNG in the month. The country’s crude oil imports were up by 2.2 percent in November year-on-year
BUSINESS
Centre launches Rs 1,000 crore credit guarantee scheme for farmers to avail post-harvest loans
Launching the scheme, Minister of Consumer Affairs, Food and Public Distribution Pralhad Joshi said the government has taken the measure to minimise distress selling by farmers.
BUSINESS
NRL sees no impact on diesel orders from Bangladesh; received full payment until now
NRL, a subsidiary of state-owned Oil India Limited (OIL), has exported 8 thousand metric tonnes (TMT) of diesel in November to Bangladesh and has received payment for all the orders delivered to the country.
BUSINESS
ONGC, Oil India stand to gain most from the proposed ORD Act amendment
The bill tabled in August by Petroleum and Natural Gas Minister Hardeep Singh Puri was approved by the Rajya Sabha on December 5. The bill aims to facilitate investments in India’s oil and gas exploration projects.
BUSINESS
Festival season, agriculture push up diesel demand in November
Diesel demand in November grew by 6.8 percent from the previous month at 8,165 tonnes. Jet fuel demand, however, was down a percent
BUSINESS
ITCMAARS aims to support 4,000 FPOs by 2030, benefitting 10 million farmers
Through ITCMAARS, the company aims to provide e-market services for agri inputs and farm outputs, enable access to credit and offer a wide range of predictive and prescriptive advisory services.
BANKING
What to expect from OPEC+’s Dec 5 meeting on output cuts for 2025
With crude oil prices largely trading below $75 a barrel in the second-half of 2024, OPEC is likely to further delay the planned phase-out of the oil supply cuts by three months (or the first quarter of calendar year 2025) to support prices.
BUSINESS
India’s crude oil imports at four-months high in Nov; jump nearly 7% from Oct
India ramped up oil imports from almost all of its suppliers. Imports of crude oil from Russia—India’s largest crude supplier currently—were up by almost two percent in November as the country imported 1.78 million bpd in the month, as against 1.75 million bpd in October.
BUSINESS
Carbon Coup: The significance of the Baku deal for global carbon trading
After years of deliberations, at COP 29, the participating countries agreed to a deal on trading carbon credits. What does this mean?
BUSINESS
BPCL to commission its first green jet fuel production facility by 2027 in line with govt’s blending mandate
The company is yet to finalise the choice of locating the new facility at its existing refinery locations in Kochi or Mumbai
BUSINESS
Oil and gas industry awaits approval of ORD amendment bill in Parliament winter session
Tabled in the Rajya Sabha by petroleum and natural gas minister Hardeep Singh Puri on August 5, the bill aims to facilitate investments in India’s oil and gas exploration projects. The proposed new law will replace the existing Oilfields (Regulation and Development) Act of 1948, which was last amended in 1969.
BUSINESS
CNG price hike|CGD cos need to keep prices competitive: Gas regulator official
A CNG crisis is brewing with supply of APM gas running low and government cutting allocation to city gas distribution companies. The gas players may have no option but resort to a price hike.
BUSINESS
India’s LNG imports surge 10.5% in October on power sector demand
India imported 2,932 MMSCM of LNG in October. In the recent months, the country's reliance imports has been growing amid higher demand and stagnant production at home
BUSINESS
Crude prices expected to stay weak around $75/bbl until Feb 2025 amid low demand, higher supply
Experts believe prices would remain bearish in the short term and might further collapse as the oil market witnesses rising supply from producing nations including OPEC+.
BUSINESS
More crude expected to be available as producers ramp up supply: Oil Minister Puri
India, the third largest consumer of crude oil, is dependent on imports for over 85 percent of its needs.
BUSINESS
ONGC steps on the gas, bets big on monetising gas discoveries to drive growth
ONGC's exploration director Sushma Rawat tells Moneycontrol that the oil giant is aided by improved technologies and competitive market prices. The company will also submit its field development plan for its Mahanadi block to the Directorate General of Hydrocarbons this fiscal.
BUSINESS
Oil is well! India’s refined fuel exports to Europe soar, hit an all-time high in Nov
In October, India exported 335,000 barrels per day of refined fuel to Europe, up from 210,000 bpd in September. The increased exports to the continent come against the backdrop of the expected increase in demand in winter and refinery shutdowns in the region, and India’s strategy of buying cheaper oil from Russia.
BUSINESS
FCI’s Rs 10,700 crore equity boost to aid inflation control, cut food subsidy bill, say experts
India’s food management body, FCI’s dependence on short-term loans and interest costs would reduce with this capital infusion.
BUSINESS
A Trump victory expected to have bearish impact on oil market: Experts
Trump at the helm could translate into freer movement of Russian oil globally, weighing on already declining crude oil prices. The crude oil production from the US is also expected to pick up with Trump winning the Presidency.
BUSINESS
Tata Power to nearly double its capex to Rs 22,000 cr in FY25: Praveer Sinha, MD & CEO
The company has advanced its execution timelines and is implementing some projects slated for next year in the current fiscal.
BUSINESS
A grim Diwali for state-run OMCs as combined net profit slumps 88% in July-Sept qtr
A turbulent geopolitical environment has led to a dramatic fall in profits for state-run oil marketing companies battling low refining margins amid weak cracks and low global demand
BUSINESS
Why stagnant domestic natural gas production could be a challenge for India?
The gap between the domestic production and consumption of the transition fuel has led the government to cut cheaper gas allocation to city gas distribution players in the country.
