Page 2 - Petroleum

24 foreign firms show interest in petroleum business in Sri Lanka: Minister

Twenty-four companies from India, the United Arab Emirates, Saudi Arabia, the US, China, Russia, the UK, Malaysia, Norway, and the Philippines are interested in the petroleum business in Sri Lanka

Auto LPG policy running on fumes as policymakers ignore fuel's potential

The government is largely ignoring this least polluting fuel in favour of diesel, petrol and electric vehicles

Petroleum pricing quagmire

It's futile to insulate domestic consumers from international prices

Exporters meet Piyush Goyal, flag concerns on demand from Western nations

According to preliminary data released by the commerce ministry on Tuesday, merchandise exports declined to a five-month low of $35.2 billion in July

Continued uncertainty

Govt forced to react to new conditions in petroleum markets

ACME Group to invest Rs 1.5 trn in green hydrogen over 7 yrs; seeks tie-ups

Plans come at a time when govt is likely to announce a green hydrogen purchase obligation for fertiliser and petroleum units, similar to renewable purchase obligation

7 out of 9 neighbouring nations charge less for petrol than India

Among the neighbouring countries, China (Rs 116 per litre) and Nepal (Rs 124 per litre) had a higher price.

Rajasthan enters uranium mining, issues LoI to Uranium Corporation

The Rajasthan government has forayed into the field of uranium mining by issuing a letter of intent (LoI) to Uranium Corporation of India.

Exports in May up by 15.46% to $37.29 bn; trade deficit widens to $23.33 bn

Imports during the month grew by 56.14% to $60.62 billion

Exports rise 30.7% to $40.19 bn in Apr; trade deficit widens to $20.11 bn

Imports during the month of April under review grew by 30.97 per cent to USD 60.3 billion.

Pak leader claims IMF delaying meeting, seeking hike in petroleum prices

As per Pakistan Tehreek-i-Insaf spokesperson on finance Muzzammil Aslam, the IMF has deferred a meeting with Pakistan authorities until May 18 as they are seeking a hike in petrol and diesel prices

April exports up 24% at $38 bn on petro products, electronics push

Imports during the month under review grew 26.55% to $58.26 billion

India's exports rise by 37.57% to $9.32 bn in 1st week of 2022-23

Export excluding Petroleum, has increased in this period by 24.32% over same period of 2020-21 and up by 392.46% over same period of 2019-20

Indian Oil to invest Rs 840 crore to set up plant, raise storage capacity

Indian Oil Corporation on Sunday said it will invest nearly Rs 840 crore in expanding its Petroleum, Oil and Lubricant storage capacities, including setting up a greenfield facility, in the Northeast

Exim Bank extends LOC of $500 mn to Sri Lanka for buying petro products

Export-Import Bank of India (Exim Bank) Thursday said it has extended a line of credit of $500 mn to Sri Lanka for financing the purchase of petroleum products.

Pearl Harbor military families alarmed after fuel detected in tap water

The Navy said on Thursday that tests had identified petroleum in its Red Hill well, which taps into an aquifer near the base

Hawaii: Petroleum detected in tap water sample near Pearl Harbor

The Hawaii State Department of Health said a laboratory has detected petroleum product in a water sample from an elementary school near Pearl Harbor

Will oil prices cool off after tapping Strategic Petroleum Reserves?

The US will release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to control oil prices. But will this be enough? Let's find out

Quick analysis of petroleum's contribution to Centre and states' exchequer

Petroleum's share of taxes not included in GST rose to 20% in FY20. While 40% of this should go to the states, the Centre has been raising cess on petroleum, which isn't shared with states

Will GST be structurally overhauled at the Council's meeting in Lucknow?

Apart from fewer slabs, the council will do well to take on issues like bringing petroleum under GST, addressing conflicting rulings of AARs and the issue of compensation to states beyond 2022