December,10,2018,Monday

​GOOD MORNING INDIA!

WEEKLY NEWS UPDATES IN OIL & GAS SECTOR

LATEST NEWS

Govt May Cut Excise Duty On Petrol, Diesel During Last Week Of May

Govt May Cut Excise Duty On Petrol, Diesel During Last Week Of May

Keeping the continuous rising retail prices of Petrol and Diesel, Government is considering the excise duty cut that may be announced in the last week of this month.

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MOST NOTABLE STORIES OF THE WEEK

Govt may not lower duties on fuel

Govt may not lower duties on fuel

The government on Friday indicated that it may not lower duties on fuel immediately, a move that will mean that pump prices for petrol and diesel may keep rising in line with rising global crude oil prices, while pushing up India’s oil import bill by $25-50 billion during the current financial year.

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Petrol price hiked by another 29 paise, diesel goes past Rs 67 a litre

Petrol price hiked by another 29 paise, diesel goes past Rs 67 a litre

The upsurge in fuel prices continued unabated on Friday as the petrol price in the national capital of Delhi hit Rs 75.61, up 29 paise from Rs 75.32 on Thursday. Diesel prices in Delhi also went up in equal measure as it breached the Rs 67-mark and stood at Rs 67.08.

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Genel Energy on track for Kurdish output growth, shares jump

Genel Energy on track for Kurdish output growth, shares jump

Genel Energy is on track to hit its oil output target in Kurdistan, it said on Thursday, adding that its cash reserves had risen by 28 percent from the end of last year.

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Petrol Crosses Rs 75 Per Litre In Delhi

Petrol Crosses Rs 75 Per Litre In Delhi

Petrol prices continued to rise across the country on Wednesday and crossed the Rs 75 per litre mark in the national capital.

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Investors See Big Oil Surge, But Physical Markets Suggest Caution

Investors See Big Oil Surge, But Physical Markets Suggest Caution

Oil futures prices have soared past three-year highs, OPEC's deal has cut millions of barrels of inventory worldwide and investors are betting in record numbers that prices could rocket past $80 and even hit $90 a barrel this year.

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Oil Volatility: Why Is India Insulated, Albeit It’s Third Biggest Global Importer Of Crude Oil? – Analysis

Oil Volatility: Why Is India Insulated, Albeit It’s Third Biggest Global Importer Of Crude Oil? – Analysis

For the first time, the oil price hike did not catch media headlines. India is an oil import dependent country. Whenever there was exponential oil price hike, concerns were heightened for the dent to the economy. This time, analysts were reticent to signal such threat.

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Bengal Pipeline Impasse

Bengal Pipeline Impasse

The proposed 125km pipeline by the Hiranandanis in south Bengal which will stretch to Bangladesh is facing more hurdles with state-owned Indian Oil Corporation claiming to be the sole supplier of regasified liquefied natural gas (RLNG) under an MoU between New Delhi and Dhaka.

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