Tag: Crude oil

Petrol prices continue to soar across India, diesel prices unchanged

High crude oil prices and a falling rupee have added to the cost of transportation fuel since August 1.

September 22, 2018

Rupee hits new all-time low of 71.37, now 16 paise down against US dollar

Opening at a record low of 71.24 against a dollar at the Interbank Foreign Exchange, down from its previous close of 71.21, the local currency weakened further to trade at a life-time low of 71.37 per dollar on Tuesday

September 4, 2018

High crude oil prices drive rupee to fresh low

According to analysts, caution ahead of key macro-economic data, coupled with a rise in demand for US dollars also dragged the rupee lower.

August 30, 2018

‘Capacity to manage oil shock better’

Economic Affairs Secretary Subhash Chandra Garg has 34 years of experience in administration, management and public policy, finance and several development sectors. A 1983 batch Indian Administrative Service officer of the Rajasthan cadre, Garg holds degrees in commerce and law from the University of Rajasthan, Jaipur, and is a professionally qualified Cost and Works Accountant …

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June 2, 2018

Crude oil futures fall 2.73% on weak global cues

Crude oil futures fell 2.73 per cent to Rs 4,485 per barrel on 28 May, in line with a weak trend overseas as speculators cut bets.

May 28, 2018

Responsibility of reducing taxes cannot be of Centre alone: Dharmendra Pradhan

Reacting to widespread criticism on the spiralling rise in price of petrol, diesel and the failure of the Centre to reduce taxes, Pradhan iterated that they are working on a long term formula.

May 24, 2018

Markets cautious ahead of verdict

After a steady upside start to week’s trade, equity indices slipped into the red on Monday afternoon apparently tracking the rise in wholesale price index-linked inflation or WPI to 3.18 percent in April from March’s 2.47 percent as well as anxiety over Karnataka state assembly election verdict due on Tuesday. Dalal Street participants were cautious …

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May 15, 2018

Crude oil futures spurt on firm global cues

Maintaining its upward trend, crude oil rose 0.77 per cent to Rs 4,836 per barrel in futures trade on Thursday, 10 May, as speculators engaged in enlarging positions, tracking a firm trend overseas.

May 10, 2018

Dalal Street sentiment positive ahead of Q4 numbers

Ignoring the flare-up in crude oil prices to a fresh four-year high amid escalating tension in the Arab world following US President Donald Trump’s threat to mount a missile attack on Syria, the domestic equity bellwethers of Bombay Stock Exchange and National Stock Exchange continued to accumulate steady gains after analysts predicted better earnings by …

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April 13, 2018

ONGC may gain Rs 1500 crore in H1 with the natural gas price

The recent price hike of natural gas by the centre may result in an additional revenue of Rs 1500 crore to the state-owned ONGC Limited during the first half of the current fiscal, said global rating and research agency Moody s. The price paid to most of natural gas produced from domestic fields will be …

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April 5, 2018

Crude oil futures fall on weak overseas sentiment

Crude oil futures fell by Rs 66 to Rs 4,027 per barrel on Thursday, 1 March, as speculators reduced their bets amid a weakening trend overseas. At the Multi Commodity Exchange, crude for delivery in March dropped Rs 66, or 1.61 per cent, to Rs 4,027 per barrel in 4,365 lots. Similarly, oil for delivery …

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March 1, 2018

Crude at $60 conducive to revenue growth: Air India CMD

Crude oil prices at around $60 per barrel is the “ideal” level for Air India to sustain its new-found revenue growth, the airline’s Chairman and Managing Director (CMD) Pradeep Singh Kharola said. When asked about the surge in crude oil prices and its impact on Air India’s revenue growth, Kharola told IANS: “I believe the …

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January 19, 2018

Rupee softens 14 paise against dollar

The rupee weakened 14 paise to trade at 63.74 against the US dollar in morning session on Thursday at the Interbank Foreign Exchange on increased demand for the American currency from banks and importers. Foreign fund outflows and rising crude oil prices also weighed on the rupee sentiment. Crude oil prices were ruling at around …

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January 11, 2018

Government pocketing profits as crude oil prices fall: Kharge

Congress leader Mallikarjun Kharge on Thursday questioned the government on why the benefit of lower crude oil prices was not being passed on to the consumers. He said the government has also slashed funds for all welfare schemes. Raising the issue in the Lok Sabha during zero hour, Kharge said: “Consumers are not getting any …

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January 4, 2018

Methanol to cut India’s oil import bill by 30%: Nitin Gadkari

The government is contemplating a ‘Methanol Economy Fund’ to promote indigenously-produced methanol that could substitute 10 per cent of India’s crude oil imports by 2030, thereby reducing its fuel bill by around 30 per cent, Road Transport and Highways Minister Nitin Gadkari said on Thursday. Making a statement on methanol in Lok Sabha, Gadkari said …

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December 28, 2017

Crude oil futures up 1 pc on global cues

Crude oil prices spurted almost 1 per cent to Rs 3,757 per barrel in futures market on Tuesday as speculators created fresh bets, taking positive cues from Asian markets. In futures trading at the Multi Commodity Exchange, crude oil for delivery this month rose Rs 37, or 0.99 per cent, to Rs 3,757 per barrel in a …

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December 12, 2017

ONGC officers seek PM intervention to stall Oil Min move

ONGC officers association has sought Prime Minister Narendra Modi’s intervention to stall Oil Ministry’s plan to sell the company’s producing oil and gas fields, saying the move has highly damaging implications for the country. The Association of Scientific & Technical Officers (ASTO) cited examples of falling production at the western offshore Panna/Mukta fields that were …

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November 27, 2017