​GOOD MORNING INDIA!

March,21,2019,Thursday

WEEKLY NEWS UPDATES IN OIL & GAS SECTOR 

LATEST NEWS

Tripura Hikes VAT On Petroleum Products

Tripura Hikes VAT On Petroleum Products

In the wake of gradual fall in prices of petrol and diesel in the last two months, the Tripura government has hiked VAT and cess on petroleum products in the state boost revenue, deputy chief minister Jishnu Dev Varma

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MOST NOTABLE STORIES OF THE WEEK

With launch of Ujjwala scheme, 97% households in Karnataka have LPG connections

With launch of Ujjwala scheme, 97% households in Karnataka have LPG connections

Subsequent to the launch of the Pradhan Mantri Ujjwala Yojana (PMUY) scheme, LPG penetration in Karnataka has increased from 68.49 per cent in June 2014 to 96.75 per cent in December 2018.

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Asia's Iran crude imports hit more than five-year low in November as sanctions bite

Asia's Iran crude imports hit more than five-year low in November as sanctions bite

Imports of Iranian crude oil by major buyers in Asia hit their lowest in more than five years in November as U.S. sanctions on Iran’s oil exports took effect last month, government and ship-tracking data showed.

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India’s first 24x7 solar-powered fuel outlet by IOCL opened in Kochi

India’s first 24x7 solar-powered fuel outlet by IOCL opened in Kochi

India’s first 24x7 solar-powered fuel retail outlet, operated by the Indian Oil Corporation Ltd (IOCL) was opened the other day in Kochi, giving a boost to sustainability initiatives of the state.

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Crude price relief to Modi govt: Brent dips below $50 per barrel; government may breathe easy on CAD

Crude price relief to Modi govt: Brent dips below $50 per barrel; government may breathe easy on CAD

With Brent crude falling below $50 per barrel — it touched $49.93 in early trade on Wednesday, the lowest since July 2017 — India could draw some comfort as its extra fuel subsidy bill could prove to be lower than recent

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Rewind 2018: High cost of fuel, finance dent auto sector's fortunes

Rewind 2018: High cost of fuel, finance dent auto sector's fortunes

After a robust first half, auto companies saw softening of sales from August, primarily due to high fuel prices and cost of finance. Even steep discounts and attractive offers did little to attract buyers.

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Petroleum price spike and crash: The crisis that wasn’t

Petroleum price spike and crash: The crisis that wasn’t

Low oil prices were the biggest economic windfall for the Narendra Modi led NDA government when it assumed office in May, 2014. The average price of India’s crude oil basket (COB) fell from $106/barrel to $46/barrel between 2013-14 and 2015-16.

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Oil eases on oversupply concerns ahead of holiday

Oil eases on oversupply concerns ahead of holiday

Oil prices dipped on Monday ahead of the Christmas holiday break, adding to last week`s steep losses on concerns about a global oversupply. International benchmark Brent crude futures fell 27 cents, or 0.5 percent, to $53.55 a barrel a

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