Oil India

With local petrol and diesel prices rising to a record high amid India's worst power crisis in years, the nation wants to redouble its efforts to buy wisely.

Oil futures have been trading near multi-year highs due to a global energy supply crunch, with the Brent crude benchmark at $84.30 a barrel on Wednesday.

On a year-on-year basis, refiners' crude oil throughput in September rose about 2.9%, while crude oil production fell about 1.7% to around 600,000 bpd (2.44 million tonnes), the data showed.

Diesel sales by the country's state fuel retailers came in at 2.4 million tonnes during Oct. 1-15, a decline of about 9.2% from last year and down 0.9% from the same period in 2019, the data showed.

Oil prices have also been bolstered by worries over coal and gas shortages in China, India and Europe, which spurred fuel switching to diesel and fuel oil for power.

As efforts continue to curb rising edible oil prices amid the festive season, the Centre on Monday said Uttar Pradesh has notified the stock limits for edible oils and many other states will follow suit soon.

India's private oil refiners are willing to work with state-run peers to bargain collectively for better oil import deals, oil minister Hardeep Singh Puri said on Friday, as the nation looks to cut its import bill.

India is the world's third-largest oil importer and consumer, reliant on imports for about 85 per cent of its crude and buying most of that from Middle East producers.

Oil producer Guyana could resume talks with India for a deal to sell the government's share of crude as output rises next year

Government is aiming to maintain strategic reserves of natural gas and imported coal to supplement future demand

High prices threaten India's goal to boost the use of gas in its energy mix as some industries are looking at switching back to coal and petcoke, a top bureaucrat in the federal oil ministry said on Wednesday.

Petroleum Minister Hardeep Puri says high prices of oil has impact on the economies, leading to surge in inflation and affecting the logistics cost

India is forming a group that brings together state-run and private refiners to seek better crude import deals

Prime Minister Narendra Modi will interact with CEOs and experts of the global oil and gas sector on Wednesday via video conferencing, his office has said.

India has told Saudi Arabia and other OPEC nations that high oil prices will hurt the nascent economic recovery

With local petrol and diesel prices rising to a record high amid India's worst power crisis in years, the nation wants to redouble its efforts to buy wisely.

Oil futures have been trading near multi-year highs due to a global energy supply crunch, with the Brent crude benchmark at $84.30 a barrel on Wednesday.

On a year-on-year basis, refiners' crude oil throughput in September rose about 2.9%, while crude oil production fell about 1.7% to around 600,000 bpd (2.44 million tonnes), the data showed.

Diesel sales by the country's state fuel retailers came in at 2.4 million tonnes during Oct. 1-15, a decline of about 9.2% from last year and down 0.9% from the same period in 2019, the data showed.

Oil prices have also been bolstered by worries over coal and gas shortages in China, India and Europe, which spurred fuel switching to diesel and fuel oil for power.

As efforts continue to curb rising edible oil prices amid the festive season, the Centre on Monday said Uttar Pradesh has notified the stock limits for edible oils and many other states will follow suit soon.

India's private oil refiners are willing to work with state-run peers to bargain collectively for better oil import deals, oil minister Hardeep Singh Puri said on Friday, as the nation looks to cut its import bill.

India is the world's third-largest oil importer and consumer, reliant on imports for about 85 per cent of its crude and buying most of that from Middle East producers.

Oil producer Guyana could resume talks with India for a deal to sell the government's share of crude as output rises next year

Government is aiming to maintain strategic reserves of natural gas and imported coal to supplement future demand

High prices threaten India's goal to boost the use of gas in its energy mix as some industries are looking at switching back to coal and petcoke, a top bureaucrat in the federal oil ministry said on Wednesday.

Petroleum Minister Hardeep Puri says high prices of oil has impact on the economies, leading to surge in inflation and affecting the logistics cost

India is forming a group that brings together state-run and private refiners to seek better crude import deals

Prime Minister Narendra Modi will interact with CEOs and experts of the global oil and gas sector on Wednesday via video conferencing, his office has said.

India has told Saudi Arabia and other OPEC nations that high oil prices will hurt the nascent economic recovery