India's oil marketing companies (OMCs) are expected to increase the country's crude oil refining capacity by 35-40 million tonnes (MT) by the end of fiscal 2030, the Crisil Ratings said.
With the softening of crude prices in the international market, it is estimated that the government may save up to Rs 60,000 crore on crude imports this fiscal as compared to last year.
India's oil exports have been impacted by the fall in crude oil prices, leading to a contraction in the country's overall exports in August, according to a report by CRISIL.
A substantial decline in the prices of crude oil and similarly petroleum products is one of the key reasons behind the moderating exports globally, including India which exports refined products to various countries.
After receiving the information, Bhatpara Police and Bomb Disposal Squad arrived at the scene and took certain security measures to dispose of the bombs.
India is the world's second-largest consumer and number one vegetable oil importer, and it meets about 60 per cent of its needs through imports. A large part of it is palm oil and its derivatives, which are imported from Indonesia and Malaysia.
India's trade with Kuwait has surged remarkably, with Indian exports to the Gulf nation reaching an impressive USDS 2.10 billion in the fiscal year 2023-24, as per the official data by Ministry of Commerce and Industry.
The government has set a goal of reaching 20 per cent blending by 2025 and is making strides towards this target. Over the past decade, this initiative has yielded substantial benefits, such as saving Rs 99,014 crore in foreign exchange, cutting CO2 emissions by 519 lakh metric tons, and sub
On the 65th establishment day of Indian Oil, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri stated that when the entire world suffered 40-70 per cent fuel inflation in the last three years, Indian Oil kept Indian citizens insulated from soaring global fuel prices.
The index measures the combined and individual performance of the production of eight core industries -- coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity.
The benchmark indices Sensex and Nifty closed flat on Monday. The market in the initial trading hours was buoyed by the reduction in windfall tax on crude oil and favourable global cues, ending flat after the trading session.