Crude Oil | The Asian Age

Saturday, May 25, 2024 | Last Update : 07:48 PM IST

Crude Oil Page-11

India is projected to see the largest additional oil demand (3.7 per cent per annum) and the fastest growth in the period to 2040.

India oil demand to rise by 5.8 million barrels per day by 2040: OPEC

Global oil demand is expected to increase by 14.5 million bpd from 2017 to 111.7 million bpd in 2040.

16 Oct 2018 11:28 AM

Prime Minister Narendra Modi on Monday warned oil producers like Saudi Arabia that higher crude prices are hurting global economic growth and they should do more to bring down rates to reasonable levels.

High crude prices hurting global growth: Modi to oil producers

The prime minister said crude oil prices at a four-year high was hurting global growth.

15 Oct 2018 5:49 PM

PM Modi holds meeting, reviews ways to reduce crude imports

According to sources, the meeting discussed ways to boost domestic production of crude oil so that dependence on imports could be cut.

13 Oct 2018 1:09 AM

Finance ministry official expressed confidence that Indian economy stand to gain following US- China trade war.

Oil cos to absorb subsidy ‘one-time’

He said that the government expects the global crude oil prices to remain range bound and below $85 per barrel.

12 Oct 2018 12:42 AM

Union minister Nitin Gadkari on Thursday said the country is facing lot of "economic crisis" due to crude oil imports and need to reduce imports and increase exports.

Country facing 'economic crisis' due to crude oil imports: Gadkari

Rising international oil prices are inflating domestic transport fuel costs in a strong demand environment.

04 Oct 2018 4:23 PM

Finance Minister Arun Jaitley. (Photo: ANI)

Petrol, diesel prices cut by Rs 2.50 after excise reduction; oil cos absorbing Re 1

Excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.

04 Oct 2018 3:49 PM

Crude prices continued their meteoric rise as Canada and (the) US updated the NAFTA treaty.

Oil near four-year high as Washington's Iran sanctions loom

Brent has risen by around 20 per cent from the most recent lows in August.

02 Oct 2018 11:11 AM

Brent crude oil futures were trading at $83.24 per barrel at 0228 GMT, up 51 cents, or 0.3 per cent.

Brent crude oil hits four-year high ahead of Iran sanctions

Brent was pushed up by the looming sanctions against Iran, which will start targeting its oil sector from Nov 4.

01 Oct 2018 9:15 AM

The situation calls for policy change to induce a faster alternate energy development programmes in the techno-economic paradigm, and quicker switchover to local renewable energy sources including EVs nationwide.

Hurry! Line up fossil fuel alternatives

For India Biomass-based energy generation has to be the major focus area of renewable energy programme.

30 Sep 2018 5:49 AM

As per India’s pricing mechanism, the demotic fuel prices depend upon the international fuel prices on a 15-day average and the value of the Indian rupee.

Petrol, diesel continue to touch new height

A litre of petrol has touched at Rs 90.57 (increased by Rs 0.22) per litre in Mumbai.

28 Sep 2018 2:07 PM

Indian refiners will either have to significantly reduce or completely stop importing crude oil from Iran over the next month, increasing their dependence on other Middle Eastern suppliers like Saudi Arabia and Iraq, Moody's Investors Service said on Thursday.

India should reduce or stop crude oil import from Iran: Moody's

US is working with countries that import Iranian oil to cut their purchases substantially.

27 Sep 2018 12:41 PM

Fuel station of public sector oil retailers have already started the process of calibrating their dispensing machines to take care of three digit petrol prices.

Rs 100 per litre petrol may become reality this New Year

Every Rs 1 fall in its exchange rate against dollar will add another 65 paisa to pump prices of auto fuels.

27 Sep 2018 8:32 AM

India is yet to take a call on complying with the US sanctions on Iran.

FinMin, RBI working out mechanism to ensure smooth India-Iran trade

The commerce secretary says India will impose duties on imports within WTO norms.

26 Sep 2018 8:17 AM

A litre of petrol has touched Rs 90.22 in Mumbai, while diesel is being capped at Rs 78.69 per litre.

Fuel prices continue to rise, petrol sold at Rs 90.22 per litre in Mumbai

In New Delhi, the petrol price has surged yet again and is retailed at Rs 82.86 per litre.

25 Sep 2018 9:51 AM

Rising crude prices and the recent 10 per cent slide in the rupee has translated into higher fuel prices for consumers.

Govt may seek to control retail fuel prices to cushion inflationary shocks

About 30-40 per cent of current retail fuel prices in India are composed of federal and state taxes.

25 Sep 2018 8:25 AM

Iran is open to accepting rupee payment for oil and may use the money to pay for equipments and food items it buys from India.

India to pay in rupees for Iranian oil

India had planned to import about 25 million tonnes of crude oil from Iran in the current fiscal.

20 Sep 2018 6:29 PM

The government blamed the high pump prices on the rising cost of crude oil and a weakening rupee.

As petrol prices sky-rocket, Indians look for ways to ease the pain

Protests against high petrol and diesel prices paralysed many parts of India earlier this month.

20 Sep 2018 11:54 AM

The Indian economy has been facing headwinds following appreciation of dollar and crude oil, which led to flight of capital and a resultant weakening of the rupee.

Indians’ faith in economy falters

Pew Survey claims 27% more Indians feel economy is not doing well.

20 Sep 2018 1:18 AM

United States likely surpassed Russia and Saudi Arabia earlier this year to become the world’s largest crude oil producer.

Oil prices claw back on supply concerns though but demand worries drag

Brent crude was up 8 cents, or 0.1 per cent, at $78.26 a barrel by 0338 GMT, after falling 2 per cent on Thursday.

14 Sep 2018 10:51 AM

'Crucial period' for oil as Iran exports shrink: International Energy Agency

Global oil output hit a record of 100 million barrels per day in August.

13 Sep 2018 4:48 PM

11 of 17

Columns

Patralekha Chatterjee