July,23,2018,Monday

​GOOD MORNING INDIA!

WEEKLY NEWS UPDATES IN OIL & GAS SECTOR

LATEST NEWS

India, Oil's Fastest Growing Buyer, Guzzling Iran's Crude As Sanctions Loom

India, Oil's Fastest Growing Buyer, Guzzling Iran's Crude As Sanctions Loom

The world’s fastest-growing oil consumer is guzzling down Iranian crude before US sanctions start squeezing supplies from the Persian Gulf nation.

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MOST NOTABLE STORIES OF THE WEEK

India’s exports rise by 20% in May; high oil prices widens deficit

India’s exports rise by 20% in May; high oil prices widens deficit

High oil prices widened India’s May trade deficit even as exports rose by 20.18 per cent to $28.86 billion from $24.01 billion worth of merchandise shipped out during the corresponding month of last year.

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Oil Minister Dharmendra Pradhan Asks OPEC To Price Oil Responsibly

Oil Minister Dharmendra Pradhan Asks OPEC To Price Oil Responsibly

India today voiced its concern over high international oil prices with oil producers cartel OPEC and nudged it to move to responsible pricing that balances interests of both producers and consumers.

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Petrol Under GST Will Hurt State More Than Centre: AP Government

Petrol Under GST Will Hurt State More Than Centre: AP Government

The proposal of bringing petroleum products into the ambit of Goods and Services Tax (GST) is being opposed by the state governments.

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No major rise in LPG rates but auto operators increase fares

No major rise in LPG rates but auto operators increase fares

After buses and taxis, autos, too, have started revising fares. The hike is by Re1for the first stage and much higher for travelling subsequent distances. But, according to many

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OPEC Cautious On Oil Outlook Despite End Of Global Glut

OPEC Cautious On Oil Outlook Despite End Of Global Glut

OPEC said on Tuesday the oil market outlook in the second half of the year is highly uncertain even though the producer group's figures show a global glut has ended, suggesting exporters will be in no rush to relax output curbs at a meeting next week.

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Bio CNG and Bio-ethanol to be manufactured from paddy straw

Bio CNG and Bio-ethanol to be manufactured from paddy straw

The Government is committed to free Punjab from pollution due to paddy straw burning and every possible effort is afoot for the same. The Punjab Energy Development Agency (PEDA) is serious on the issue and is working consistently in this direction.

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India May inflation likely hit a 4-month high on oil price surge

India May inflation likely hit a 4-month high on oil price surge

India's retail inflation jumped further in May to a four-month high, primarily driven by a surge in energy prices, according to a Reuters poll of economists, suggesting more policy tightening from the central bank is coming.

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GST Won’t Stop Oil Price Fluctuations: Sanyal

GST Won’t Stop Oil Price Fluctuations: Sanyal

The inclusion of petroleum products under the Goods and Services Tax (GST) will not prevent price fluctuations as India is a massive importer of crude and domestic prices will reflect global price movements, said Sanjeev Sanyal (in pic), principal economic advisor in the finance ministry.

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