Petrol
Hindustan Petroleum's Barmer greenfield refinery to reduce India's import reliance: Hardeep Puri
The minister, who was in Barmer on a visit to the refinery complex, said that it will process 9 metric million tonnes per annum of crude and produce more than 2.4 million tonnes of petrochemicals, which will reduce import bill on account of petrochemicals. This project will act as an industrial hub not only for western Rajasthan but will also steer India to its vision of achieving 450 metric million tonnes per annum refining capacity by 2030, he added.
Pak govt drops another inflation bomb on masses; petrol up by Rs 22
As per the latest notification issued by the government effective from Thursday, the prices of petroleum products were revised as follows: MS (petrol) revised to Rs 272.00 a litre, high-speed Diesel (HSD) price revised to 280.00 litre, kerosene oil (SKO) price revised from Rs 189.93 to Rs 202.73 and light diesel oil revised from Rs 187.00 to Rs 196.68, all effective from Thursday.
Pakistan witnessing a petrol crisis
There is a short supply of petrol in the country with Punjab province bearing the brunt of the crisis. Major and smaller cities, towns and villages in the province do not have the major fuel, The News reported. The crisis has worsened in the last few days despite the government's warning to the people from hoarding petrol in anticipation of an increase in its price.
Petrol crisis to hit Pakistan by mid-February
"The situation will become extremely critical by mid-February if remedial measures are not taken immediately," local refineries warned Petroleum Minister Musadik Malik and the Governor of State Bank of Pakistan (SBP), Jameel Ahmed, in separate letters. The letters were jointly written by Pakistan Refinery Limited, National Refinery, Attock Refinery and Cnergyico Refinery, The News reported.
Government willing to give cooking gas subsidy if global prices come down: Hardeep Puri
"There is a (existing) subsidy of Rs 200. What is this subsidy? It is tax payer's money... The ones who are most vulnerable, we are always ready to help if it is left to this House and the honourable Prime Minister. It would be ideal if the international or the Saudi Contract Price could further come down from $750. It would enable domestic LPG to be sold at even more economical rates," he said.
Relations with India solid, ready to meet crude demand: OPEC Secy General
Talking to media persons on the sidelines of the India Energy Week, Ghais, asked whether OPEC feared loss of market share as India is buying a bulk of its crude from Russia, said that OPEC shares a diverse relationship with India which dates back to a long time. "Relationship between India and OPEC is solid and it forges ahead into other dimensions like investments," he said.
Petrol stocks may dry up in Pakistan
Like other sectors, the oil industry in Pakistan is facing hurdles to opening LCs owing to the US dollar shortage and restrictions put in place by the SBP, The Express Tribune reported. An oil cargo of Pakistan State Oil (PSO) has already been cancelled while LC for another cargo, scheduled for loading on January 23, has not yet been confirmed.
Government cuts windfall tax on domestically produced crude oil, jet fuel
Windfall tax on export of diesel and jet fuel has also been reduced, the order, dated January 16, said. The tax on export of diesel has been brought down to Rs 5 per litre, from Rs 6.5 per litre, while on jet fuel, it has been brought down to Rs 3.5 a litre from Rs 4.5 a litre. The new price regime has come into effect from Tuesday.
India hiked ethanol blending from 1.5% in 2013-14 to 10% in July 2022: Hardeep Puri
Addressing the CII Bio-Energy summit, Hardeep Puri said that setting up 2G refineries to make ethanol from parali (Panipat refinery) and bamboo (Numaligarh refinery) with the twin objectives of reducing pollution along with achieving energy security goals is another milestone in this direction.
Policy on setting up ethanol pumps is in works, says Nitin Gadkari
Addressing the Bio-Energy summit organised by industry body CII, he said that he would be meeting Petroleum Minister Hardeep Puri within the next 15 days to work on a policy to set up ethanol-based pumps in the country. The minister added that there is a requirement of 1,000 crore litre of ethanol if it is blended with petrol by up to 20 per cent.
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