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Qatar is bringing in sweeping labour reforms, imposing a standard minimum wage applicable to employees of all nationalities and professions and making it easier to change jobs.
A refinery thrives on the price difference between crude oil and fuels like gasoline, earning a profit that’s known in the industry as a cracking margin.
Amid lockdown, demand for transportation and industrial fuels plummeted by as much as 70%, but India is confident things will look up faster than projected.
If companies don't pivot to renewable sources, they may have trouble getting access to the financing they need to keep the drills running in the future.
A renewed outbreak would jeopardise the recovery oil prices have seen in the last 2 months, which was spurred by record output cuts and renewed demand.
India has opportunity to draw investments & push PSUs like BPCL to investors as some countries seek to counter China’s ‘growing threat to global trade’.
The International Energy Agency’s projection for energy investment in 2020 began at 2% growth, but in the wake of the pandemic, expects to decline by 20%.
Holding oil in ships is more expensive than storing it in onshore tanks, but the eventual unloading of it will have a significant bearing on the oil price.
The price hike was followed by Delhi govt's decision to raise VAT on petrol from 27 to 30% and from to 16.75% to 30% on diesel.
Fuel consumption probably declined at least 80% in April, which would lead to a revenue loss of as much as Rs 400 billion, said economist Madan Sabnavis.