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Friday, March 29, 2024
TopicOil

Topic: Oil

Oil prices drop as second Covid wave slows India’s demand, dims recovery optimism

Sales of petrol in India, world's third biggest importer, were the lowest in April since last August, while average daily diesel sales were the lowest since October 2020.

India’s Covid crisis now makes global oil demand recovery by July impossible

The combined consumption of diesel and gasoline in India this month is poised to plunge by as much as 20% from March, as streets in major cities like Mumbai & New Delhi go quiet.

China to take oil-refining crown held by US since 19th century

Covid crisis hastens seismic shift in global refining industry as demand for plastics and fuels grows in China & rest of Asia while US & Europe grapple with deeper economic crisis.

NGT panel report finds OIL was operating in Baghjan without mandatory clearances

Panel recommends NGT should look at Assam Pollution Control Board for granting consent. OIL says ‘well-killing’ operations will be complete by Diwali.

Oil rises, gold drops as early election results show tight race between Trump and Biden

Market uncertainty may lead to heightened volatility over the next few hours as traders react to headlines and early clues of a possible Donald Trump or Joe Biden victory.

‘He’ll be okay’ — An unsympathetic Trump said about Modi after Iran oil sanctions

In The Room Where It Happened, former US National Security Advisor John Bolton writes about how an ‘inconsistent’ Trump and ‘wobbly’ Pompeo dealt with Iran oil sanctions.

Expect India’s oil demand to recover from Covid shock by second quarter: Dharmendra Pradhan

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.

India’s petrol, diesel demand will take months to return to pre-lockdown levels

India’s fuel consumption collapsed by as much as 70% during the lockdown in April. It could take until the end of 2020 to get close to full recovery.

World’s top infra manager is eyeing to buy India’s top PSU oil and gas pipeline assets

Macquarie Infrastructure & Real Assets believes govt will divest non-core oil and gas assets, like oil storage facilities, pipelines, transmission facilities.

Arabs should welcome a future with less oil wealth

A recent IMF report, which showed that by 2034 declining oil demand can affect the GCC's wealth, has led to predictions of economic and political instability in Arab countries.

On Camera

Profit margins in lottery industry are tiny. Here’s how Future Gaming paid for its electoral bonds

Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities. 

Amid plans to lift AFSPA, Army starts joint training with Jammu & Kashmir Police

In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.

For BJP, Kejriwal is an idea whose time has come to be destroyed

The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.