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Diesel deregulation to benefit consumers, says Essar Oil
NEW DELHI: The government’s decision to deregulate diesel will benefit Essar Oil. Managing Director and CEO of Essar Oil said, “We welcome the government’s decision to deregulate diesel, which will not only help in controlling the fiscal deficit but also benefit the consumers as they can now buy diesel at market prices.” . CEO LK Gupta in a statement, the cost per liter has been reduced by more than Rs 3. Diesel deregulation will also be private OMCC The system includes retail network. Gupta said that this will increase competitiveness and benefit the end consumer. Chandrajit Banerjee, Director General, CBI “The government’s decision to deregulate diesel prices is a step in the right direction in the long run as it will help in reducing subsidies and balancing the fiscal deficit.” You have done the right thing.” He added: “Moreover, subsidies should be targeted at a wider audience than those who do not need them.” ...
JacobThodore
51
May 31, 2024
New catalyst could improve biofuels production
WASHINGTON: Researchers have developed a new catalyst that could make biofuels cheaper and more efficient. The researchers, led by Washington State University professor Yong Wang, made the catalyst by mixing cheap iron with a small amount of rare palladium. One of the biggest challenges in biofuel production is obtaining fuel carbon while removing oxygen. High oxygen levels make biofuels more unstable, less viscous, and less efficient than fossil fuels, making them unsuitable for use in aircraft or diesel fuel. The researchers wanted to use as little hydrogen as possible in the reaction to increase the yield. /p The researchers developed a mixture of iron and a small amount of palladium to effectively and cheaply remove oxygen as a catalyst. “The synergy between palladium and iron is amazing,” says Wang, who works at Pacific Northwest National Laboratory and Washington State University.” . Wang says, “When coupled, the catalyst is much better than ...
CarolineBeard
44
May 31, 2024
Low crude oil and other commodity prices globally to bring respite to Narendra Modi government
(This article was originally published on October 18, 2014) In recent months, a prolonged bull market has led to a collapse in global commodity prices and a regular widening of account and fiscal deficits, which, along with rising subsidies and a depreciating rupee, have hurt India. Now all this is reversing. Petrol prices have fallen to their lowest level in 16 months, edible oil and rubber prices to their lowest levels in five years. Sugar and cotton are also falling. This bodes well for low inflation. Why are oil prices falling? Surging supply and weak demand outlook Shale oil production surges OPEC shows no signs of cutting production Saudi Arabia is unwilling to bear the burden. Production rose 0.5% to 9.65 million bpd in September. IEA cuts global energy demand forecast for fourth straight month IMF cuts global growth forecast pHas oil bottomed out? Bank of America and BNP Paribas say oil prices will stay above $80 a barrel. Despite analysts’ dis...
LynnCroft
43
May 31, 2024
Global oil prices likely to touch to $60/barrel: Osama Kamal
(This article was published on October 20, 2014) MUMBAI: Global crude oil prices are set to fall sharply and are expected to fall further by as much as a third in the coming days, former Egyptian oil minister Osama Kamal said. Mumbai to Aditya’s Kamal Birla Group “I expect crude oil prices to touch 60 barrels per barrel,” the executive said Dollar, which will affect multiple economies. India is one of the major investors in Egypt, owning more than a dozen companies. In Egypt, we employ more than 35,000 people Names of local employees. “Aditya Birla The group owns one of the world’s largest carbon black manufacturers in Egypt. It has also built a new polyester plant with a capacity of 420,000 tons per year. Kamal said the Egyptian economy has resumed its road to recovery. He added: “Our economy will be back on track within three years and the signs are clear: inflation is around 8.2% and fuel consumption is under control.” . Egypt is mov...
NelsonStella
45
May 31, 2024
Diesel deregulation: Government keeps a cushion of 56 paise/ltr
(This article was originally published on October 22, 2014)/p NEW DELHI: The government on Saturday eased diesel restrictions while maintaining a cushion of 56 paisa per liter. Officials said this would protect consumers from the recent international fuel crisis. Prices have soared. The government decided to relax diesel regulations after every company started charging an exorbitant price of Rs 3.566 per liter. The move helped the government reduce petrol prices by Rs 3 per liter and maintain a profit of 56 paisa amid volatile international oil prices to meet the emergency, sources said. On Saturday, the government announced a drastic reduction in the retail price of diesel in Delhi by Rs 3.37/liter Including Rs 12.5 percent local tax. Sources said the government has also reached a tacit understanding with the state-owned oil marketing companies. The government will protect customers if international diesel prices spike in the near future. India’s retail fuel market is le...
LauraLawson
50
May 31, 2024
How to gain from falling crude prices
(This article was published on October 20, 2014) Do you remember June 2008 when crude oil prices rose above $140 per barrel? Fortunately for India, the price of the crude basket fell below $90. This weakness was due to the shale gas revolution reducing the US dependence on crude oil imports and slowing economic growth reducing demand from the rest of the world, especially China. We will tell you how you, as a consumer and investor, can benefit from this trend. Warning. The Consumer Price Index (CPI) fell due to the drop in crude oil prices. This is due to the fact that two elements of the index, “fuel, electricity, lighting” and “transportation” occupy a large weight. Abhe Barua, Consultant Economist, ICRIER, said that as the cost of transportation falls, the prices of food, goods and services are also affected twice. However, inflationary expectations are getting worse. Entrenched. According to the Reserve Bank of India’s household survey in Sep...
BeacherSawyer
49
May 31, 2024
ONGC, HPCL rally upto 9% post gas price hike, diesel deregulation; RIL in red
ET Online (This article was originally published on October 20, 2014.) NEW DELHI: ONGC, HPCL along with other state-run oil companies saw their shares rise by more than 8 percent on Monday after the Modi government hiked gas prices to $5.6 per unit from $4.2. This will significantly increase ONGC revenues and lift restrictions. This is on diesel fuel regulation. However, private exploration companies like Reliance Industries may be disappointed as the price of new gas will not apply to Reliance Industries’ KG-D6 production as expected as the company is in mediation with the government. ONGC shares rose 8.7% on the news, while Indian Oil Corp shares rose 5%. State-owned oil exploration companies like BPCL gained 7.2%, HPCL rose 8.7% to touch a 52-week high of Rs 534% and IOC rose 7.9%. Shares of companies including state-owned oil and gas firm IOC rose 6.1 percent to Rs 388, BPCL gained 6.7 percent to Rs 709.80 and HPCL rose 7.4 percent to Rs 528. Shares of Relianc...
SylviaJonathan
64
May 31, 2024
Whisky waste could be fuel of the future
LONDON: A Scottish startup is exploring the possibility of using whisky by-products as the next alternative to biofuels for power generation. The company is trying to capitalize on the massive amount of waste generated by one of Scotland’s most valuable industries and turn whisky-making residues into fuel. According to an article in Chemical & Engineering News, the weekly newsletter of the American Chemical Society, Celtic Renewable Energy’s historic technology based on 100 improved fermentation techniques is now making its way to commercial plants. Martin Tangney, founder, president and chief scientific officer of the Edinburgh-based company, draft beer and lager “have no commercial value and are a problem in the modern context.” The process of making whiskey requires three ingredients: water, yeast, and grains (primarily barley). However, only 10% of whisky is produced and the rest is waste. According to the article, the industry produces ...
MollyCharlotte
60
May 31, 2024
Oil India seeks more hydrocarbon concessions globally
SINGAPORE: India’s second largest public sector company, Oil India Limited (OIL), is seeking more hydrocarbon concessions globally, including in Brazil and Mexico. Chairman and CEO Sunil Kumar Srivastava, “We are actively looking for quality assets that can deliver crude oil to India.” (Sunil Kumar Srivastava) told PTI yesterday. He said, “The Indian government is very supportive of our overseas activities. They are encouraging us to go global and reduce energy imports. Speaking at the International Energy Week in Singapore, he said, “The more oil and gas we bring into the country, the better it will be for reducing the cost of energy imports into the country.” India depends on imports for about 75% of India’s annual demand for crude oil and 30% of its demand for natural gas. Among the large overseas investments, Petronas invested $ 9 100 million, 4% stake in the coastal farms of Mozambique. In January this year, OIL and ONGC ...
LindaThackeray
57
May 31, 2024
Government oil subsidy bill to be cut by over 60% in FY15
NEW DELHI: International oil prices have fallen to multi-year lows and the government can reduce the oil subsidy law by more than 60% in the current fiscal. Currently, the government controls diesel, domestic LPG and kerosene and sets prices below cost. The resulting losses to oil companies can be made up through cash subsidies and discounts to upstream oil manufacturers such as ONGC. In 2013-14, the government provided Rs 707.72 billion to upstream oil companies in the form of cash subsidies. The company’s revenue stood at Rs 670,214 crore. With oil prices falling to a four-year low of below 84 barrels per US dollar, diesel, domestic cooking gas (LPG) kerosene are being sold at prices below the cost of imports, leading to weak economic recovery or loss of revenues (about Rs 86,080)). This financial. According to previous financial, industrial and government sources, this is less than Rs 139, 869 crore total unrecovered. According to sources, the recovery gap for t...
AlvaHerty
44
May 31, 2024
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