Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Punjab to abolish fuel octroi, petrol to cost Rs 2 less
Diesel to be cheaper by Re 1. Despite the finance department’s reservations, the Punjab government is all set to abolish octroi on petrol and diesel in the state. While this will reduce the rate of petrol
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Govt accepts Oman's proposal of hike in gas prices
Move ensures uninterrupted urea supply to Indian market Govt not to drag Gulf nation to International Tribunal The government has accepted the proposal seeking hike in prices of gas supplied by Oman to an Indian fertiliser plant in the Gulf nation to $1.5 per mmBtu for this year, a move that will ensure uninterrupted supply of urea to the Indian market.
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BJP: Diesel shock is coming soon
The government on Tuesday stated that it has agreed in principle to deregulate diesel prices. Minister of state for finance Namo Narain Meena, in a written reply to the Rajya Sabha, said on Tuesday that the government is, however, not considering a similar proposal for cooking gas. The minister said the “government has, in principle, agreed to make the prices of diesel market-determined”. Though petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel. The minister, however, added that the government continues to fix the price of diesel in order to shield the common man from the impact of rising crude oil prices and the resulting inflation.
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Oil companies warn of fuel supply cuts : govt
New Delhi Consumers could prepare for shortages in auto and cooking fuel supplies. Oil retailers IOC, HPCL and BPCL have informed the government that if their losses from selling fuel below cost are not adequately compensated, “it may adversely impact the supply-demand balance of petroleum products,” Minister of state for petroleum and natural gas R.P.N. Singh told Rajya Sabha on Tuesday.
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Govt nod to decontrol diesel prices
Gives no timeline for implementation n No such proposal for LPG n Decision evokes mixed reactions. The government today said in Parliament that it has agreed in-principle to deregulate diesel prices, but
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Govt to deregulate diesel prices: FinMin
New Delhi The government today said it has agreed in-principle to the deregulation of diesel prices, but is not considering similar proposal for the cooking gas. "Government has, in principle, agreed to make the prices of diesel market determined," Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha.
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80pc people in world’s poorest countries require safety net: WB
At least 60 percent of people in developing countries and nearly 80 percent in the world’s poorest countries lack effective safety net coverage as countries struggle to protect their most vulnerable citizens
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Petrol price hike can't wait any longer: OMCs
‘Or cut excise duty and compensate our loss' Fed up with the Centre's “indecision” on allowing an increase in fuel prices in the face of rising international crude prices, the oil marketing companies (OMCs) on Tuesday virtually threatened to increase petrol prices by Rs. 8.04 a litre. They said the government should either cut the excise duty on petrol and give them Rs. 49 crore a day in compensation or face a sharp price hike.
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Oman cuts gas price to $1.5 per mmBtu
New Delhi Oman has halved the price at which it will sell natural gas to an Indian fertiliser plant in the Gulf nation to $1.5 per mmBtu but has added an annual escalation clause. Oman, which had previously proposed to raise rates of gas sold to OMIFCO’s urea manufacturing facility at Sur to $3 per million instead of present price of $0.77 per mmBtu, has revised its offer to charge $1.5 per mmBtu, sources in know of the development said.
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Cut excise or we hike petrol price by 10/L, says IOC
New Delhi: Taking a cue from the RBI governor D Subbarao, market leader IndianOil Corporation indulged in grandstanding on Tuesday by saying state-run retailers would raise petrol price by almost Rs 10