Petrol & diesel prices have barely changed since June 2022, even though oil prices have fallen 28% since then. This has boosted profitability of OMCs and dividend payouts to govt.
India has paid Russia nearly $20 billion for oil in just seven months, more than what it paid in the last ten years combined. It has only reaped higher profits of a few Indian companies.
Indian Oil, Bharat Petroleum and Hindustan Petroleum bore revenue loss as rates were held back between November and the first three weeks of March, Moody’s Investors Service noted.
Higher oil prices are likely to add more impetus to India’s push for cleaner sources of energy as the country targets for 40% of its energy needs to come from green sources by 2030.
The slump in diesel demand is forcing refineries to operate below capacity, but gasoline sales are back at pre-virus levels with people resorting to personal vehicles.
Indian Oil, which operates nine refineries, saw more than a 90% dip in profit in the last fiscal, as volatility in oil and product prices led to narrow or negative margins.
Ships hauling everything from coal to iron ore & consumer goods on domestic routes may run out of fuel as India struggles to meet new environmental standards.
The progress of the Sangh has always rested on society’s constant support. Because its work remained in tune with the spirit of the people, acceptance grew steadily over time.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Since 1815, Nepali Gorkhas have served in Indian & British Armies, as well as in Bihar, Bengal & Assam Police. Since Agnipath scheme came in, no Nepal-domiciled Gorkha has enlisted.
What Munir has achieved with Trump is a return to normal, ironing out the post-Abbottabad crease. The White House picture gives us insight into how Pakistan survives, occasionally thrives and thinks.
COMMENTS