The jump in jet fuel—had it been implemented in full—would have been a heavy burden for local airlines, which are already grappling with thin margins, and domestic passengers.
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.
India’s university towns initiative is an opportunity to do something we have never managed at scale: build knowledge ecosystems rather than knowledge silos.
Cook will hand over the reins to Ternus on 1 September, capping a 15-year tenure that turned the company into a $4 trillion business spanning watches, video streaming & financial services.
American objectives are unmet. They neither have muscle nor motivation to resume the war. As for Iran, the regime didn’t just survive, it’s now led by more radical individuals.
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