With refinery runs above 100% and strong international margins, shipments rose to around 705,000 barrels per day in October. Reliance Industries was the dominant exporter.
Replenishment of inventories lost during West Asia crisis is unlikely to recover before second half of 2027 as global oil stocks remain 509 mn barrels below pre-war level, it adds.
The US has eased sanctions on Russian diesel to address fuel-price pressures, raising questions over its Russia policy and the outlook for Indian refiners.
Manufacturers such as Mahindra and Tata have a strong diesel portfolio. And the advent of GST 2.0 norms has seen diesel power capture over 18% of the market in July.
Puri says govt will now focus on expanding India’s energy storage capacity but it should not be viewed only through lens of underground strategic petroleum reserves (SPRs).
Difficult to assess any substantial impact of price hike as Saudi Contract Price benchmark for LPG continues to remain elevated due to strong demand, says a senior official.
Govt has attributed hikes to mounting losses suffered by public sector OMCs, which are collectively losing around Rs 750 cr a day. Oppn accuses Modi of waiting till after polls to hike prices.
Petroleum Planning and Analysis Cell data shows petrol sales up 3.1% and diesel 11.7% year-on-year, while LPG consumption continues to decline amid geopolitical flux.
Netanyahu has won only because he hasn’t been defeated. He’s also changed Israel fundamentally. Any ruling alliance now will have to be a coalition to the exclusion of Israel’s Arab citizens.
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