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ADB praises India for cutting subsidies on fossil fuels to boost green energy  The Asian Development Bank (ADB) has praised India for adopting policies to cut subsidies on fossil fuels on petroleum products and levying a cess on coal to create fiscal space for increasing government support to renewable energy, electric vehicles and strengthening of electricity infrastructure.  "By carefully balancing the combined effect of three key policy levers - retail prices, tax rates, and subsidies on selected petroleum products - the country was able to reduce ...
ADB praises India for cutting subsidies on fossil fuels to boost green energy
ADB praises India for cutting subsidies on fossil fuels to boost green energy
Source: IANS
2024-11-03 12:07:52 pm
Petrol, jet fuel, LPG sales surge as economy picks up pace India's petrol, aviation turbine fuel, and LPG consumption shot up in October this year compared to the same month last year, reflecting the rising demand for these fuels in a growing economy.  While petrol sales have gone up by 7.3 per cent, LPG consumption surged by 7.5 per cent and jet fuel demand increased 2.5 per cent year-on-year during the festive season, according to data released by the public sector oil companies on Friday. However, diesel sales declined by 3.3 per ce...
Petrol, jet fuel, LPG sales surge as economy picks up pace
Petrol, jet fuel, LPG sales surge as economy picks up pace
Source: IANS
2024-11-02 09:04:48 am
Confidence Petroleum rises on starting 13 additional Auto LPG dispensing stations Confidence Petroleum India is currently trading at Rs. 84.88, up by 0.92 points or 1.10% from its previous closing of Rs. 83.96 on the BSE. The scrip opened at Rs. 84.53 and has touched a high and low of Rs. 86.91 and Rs. 84.10 respectively. So far 43621 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 119.95 on 19-Feb-2024 and a 52 week low of Rs. 62.65 on 04-Jun-2024. Last one week high and low of the scrip sto...
Confidence Petroleum rises on starting 13 additional Auto LPG dispensing stations
Confidence Petroleum rises on starting 13 additional Auto LPG dispensing stations
Source: Accord Fintech
2024-08-06 03:00:27 pm
Number of LPG consumers in India surge by 125 per cent in last 10 years The LPG infrastructure in India, over the last decade from 2014 to 2024, has surged with the bottling capacity shooting up by close to 70 per cent while the number of consumers has soared by nearly 125 per cent during this period, the Parliament was told on Monday.  "India now has one of the most robust LPG supply infrastructure globally. Before April 2014, nearly 45 per cent of Indian households didn’t have access to clean cooking fuels and were constrained to depend on tr...
Number of LPG consumers in India surge by 125 per cent in last 10 years
Number of LPG consumers in India surge by 125 per cent in last 10 years
Source: IANS
2024-07-23 09:37:49 am
Vitol Asia and Bharat Petroleum among bidders for Sri Lanka LPG terminal The Mahanagar Gas Ltd has hiked the prices of CNG by Rs 1.50/kg and domestic PNG by Rs 1/SCM in Mumbai and its surrounding areas with effect from midnight (July 8-9) on Monday, an official said.  Accordingly, the price of CNG will go up from Rs 73.50/kg to Rs 75/kg, and the rate of domestic PNG will increase from Rs 47/SCM to Rs 48/SCM, inclusive of all taxes for Mumbai and surrounding regions. The latest hike is attributed to meeting the increasing volumes of CNG-PNG demand and ow...
Vitol Asia and Bharat Petroleum among bidders for Sri Lanka LPG terminal
Vitol Asia and Bharat Petroleum among bidders for Sri Lanka LPG terminal
Source: Reuters
2024-07-09 10:23:38 am
Confidence Petroleum India jumps on acquiring 99.99% stake in Punjab Petroleum Corporation Confidence Petroleum India is currently trading at Rs. 82.60, up by 1.72 points or 2.13% from its previous closing of Rs. 80.88 on the BSE. The scrip opened at Rs. 81.14 and has touched a high and low of Rs. 83.29 and Rs. 81.14 respectively. So far 43986 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 119.95 on 19-Feb-2024 and a 52 week low of Rs. 62.65 on 04-Jun-2024. Last one week high and low of the scrip sto...
Confidence Petroleum India jumps on acquiring 99.99% stake in Punjab Petroleum Corporation
Confidence Petroleum India jumps on acquiring 99.99% stake in Punjab Petroleum Corporation
Source: Accord Fintech
2024-07-03 12:32:55 pm
India to benefit as global oil prices decline by over $4 a barrel India stands to gain as oil prices have fallen by over 4$ a barrel this week to a four-month low in the international market following the OPEC+ cartel’s plan to allow an increase in production this year while an increase in the US crude stockpiles has added to bearish sentiments.  The benchmark Brent oil futures for August edged lower to $77.50, on Wednesday, while July crude oil futures on WTI (West Texas Intermediate) were at $73.22. Oil prices have now fallen below $80 a ...
India to benefit as global oil prices decline by over $4 a barrel
India to benefit as global oil prices decline by over $4 a barrel
Source: IANS
2024-06-05 12:26:04 pm
India extends subsidy on cooking gas by a year India will extend a subsidy on cooking gas by a year at a cost of 120 billion rupees ($1.45 billion), the country's commerce minister said on Thursday, weeks before national elections in which Prime Minister Narendra Modi will seek a third term. Modi's government already hiked the subsidy for low income households twice last year to 300 rupees per liquefied petroleum gas (LPG) cylinder from 200 rupees earlier to rein in inflation. The announcement with benefit 102 million people...
India extends subsidy on cooking gas by a year
India extends subsidy on cooking gas by a year
Source: Reuters
2024-03-08 10:31:57 am
PM Narendra Modi announces cut in LPG cylinder prices by Rs 100 on women`s day Prime Minister Narendra Modi on Friday announced the reduction in the prices of LPG cylinders by Rs 100 on the occasion of International Women’s Day. In a post on his official X handle, PM Modi said, "Today, on Women's Day, our Government has decided to reduce LPG cylinder prices by Rs. 100. This will significantly ease the financial burden on millions of households across the country, especially benefiting our Nari Shakti. "By making cooking gas more affordable, we ...
PM Narendra Modi announces cut in LPG cylinder prices by Rs 100 on women`s day
PM Narendra Modi announces cut in LPG cylinder prices by Rs 100 on women`s day
Source: IANS
2024-03-08 10:04:43 am
Confidence Futuristic Energetech jumps as its arm setting up Green Hydrogen, Nitrogen, CNG Type-4 Cylinder manufacturing unit Confidence Futuristic Energetech is currently trading at Rs. 119.50, up by 6.40 points or 5.66% from its previous closing of Rs. 113.10 on the BSE. The scrip opened at Rs. 119.75 and has touched a high and low of Rs. 125.00 and Rs. 118.10 respectively. So far 54919 shares were traded on the counter. The BSE group 'X' stock of face value Rs. 5 has touched a 52 week high of Rs. 169.20 on 19-Jun-2023 and a 52 week low of Rs. 94.65 on 11-May-2023. Last one week high and low of th...
Confidence Futuristic Energetech jumps as its arm setting up Green Hydrogen, Nitrogen, CNG Type-4 Cylinder manufacturing unit
Confidence Futuristic Energetech jumps as its arm setting up Green Hydrogen, Nitrogen, CNG Type-4 Cylinder manufacturing unit
Source: Accord Fintech
2024-02-12 10:26:50 am
Commercial LPG prices hiked  The Oil Marketing Companies have increased the prices of commercial LPG cylinders by Rs 21 across the country with effect from Friday. The price of a 19 kg LPG cylinder has now gone up to Rs 1,796.50 in Delhi, while in Kolkata the cost is Rs 1,908. In Mumbai and Chennai, the price of a 19 kg LPG cylinder is Rs 1,749 and Rs 1,968, respectively. While the prices of commercial LPG cylinders has been increased, the cost of domestic LPG, used for cooking in households, remains the s...
Commercial LPG prices hiked
Commercial LPG prices hiked
Source: IANS
2023-12-01 01:51:10 pm
Singapore`s BW LPG to invest $30 million in JV with Confidence Petroleum India Singapore-based BW LPG will invest $30 million in Confidence Petroleum India through preferential allotment of shares, and form a joint venture to develop LPG import infrastructure, the companies said on Thursday. The Indian liquefied petroleum gas (LPG) cylinder maker will issue up to 28.2 million shares to BW VLGC Pte, a unit of the Norway-listed LPG shipper, at 88.6 rupees apiece, an exchange filing showed on Thursday. Confidence Petroleum will also enter into a joint ventu...
Singapore`s BW LPG to invest $30 million in JV with Confidence Petroleum India
Singapore`s BW LPG to invest $30 million in JV with Confidence Petroleum India
Source: Reuters
2023-11-30 10:37:45 am
India stands to gain as crude oil prices fall to 4-month low With crude oil prices falling to a 4-month low in the international market, the Indian economy is expected to get a shot in the arm. The country’s current account deficit had started to spiral out of control due to the huge oil import bill and the rupee had been weakening due to the higher demand for dollars to buy expensive oil. The price of the global benchmark Brent crude fell by 4.63 per cent to close at $77.42 per barrel on Thursday, while the US's West Texas Intermediate...
India stands to gain as crude oil prices fall to 4-month low
India stands to gain as crude oil prices fall to 4-month low
Source: IANS
2023-11-17 02:09:45 pm
Headline inflation under control due to LPG price cut, vegetable price correction: Government While GDP growth remains on track in 2023-24, the declining trend in headline inflation was briefly interrupted in the second quarter due to a spike in the prices of certain food items, however, according to the Finance Ministry, it was a temporary phenomenon caused by the seasonal and weather-driven supply constraints in a few food items. In a report released by the Finance Ministry recently, it was stated that headline inflation has moved to track (under control) on the back of vegetable...
Headline inflation under control due to LPG price cut, vegetable price correction: Government
Headline inflation under control due to LPG price cut, vegetable price correction: Government
Source: IANS
2023-11-05 06:22:35 pm
Prices of commercial LPG cylinders surge by over Rs 100, second hike in a month The Oil marketing Companies on Wednesday increased the prices of commercial LPG cylinders by Rs 101.5 which are effective from November 1 itself. As per the revised rates, a 19 kg LPG cylinder will now be Rs 1,833 from Rs 1,731 earlier in Delhi. This is the second time in a month that the prices of commercial LPG cylinders have been increased. On 1 October, the price was increased by Rs 209 per cylinder. After the revision, a 19-kg commercial LPG cylinder will now cost Rs 1,833 inste...
Prices of commercial LPG cylinders surge by over Rs 100, second hike in a month
Prices of commercial LPG cylinders surge by over Rs 100, second hike in a month
Source: IANS
2023-11-01 01:59:59 pm
GAIL India posts Q2 profit beat on gas transmission volume strength India's largest gas distributor GAIL (India) on Tuesday posted a bigger-than-expected rise in quarterly profit, buoyed by a boost in its gas transmission volume. The company's net profit after tax rose more than 56% year-on-year to 24.05 billion rupees ($288.99 million) in the three months ending Sept. 30, beating analysts' average estimate of 18 billion rupees, as per LSEG data. "During the quarter the company has performed well, specially on the strength in gas transm...
GAIL India posts Q2 profit beat on gas transmission volume strength
GAIL India posts Q2 profit beat on gas transmission volume strength
Source: Reuters
2023-10-31 04:22:34 pm
Piaggio launches 3-wheeler EV in TN, town size does not matter for adoption The size of a city or town does not make much of a difference for the adoption of electric vehicles (EVs), particularly three wheelers, as small towns, too, log the same numbers as big cities.Launching an electric three wheeler in Tamil Nadu, Amit Sagar, Executive Vice President, Piaggio Vehicles Pvt Ltd said the company has sold over 1,600 units in Agartala, 2,500 in Agra and over 2,000 electric three wheelers in Delhi till date.Sagar said the size of a city does not largely matter in the ad...
Piaggio launches 3-wheeler EV in TN, town size does not matter for adoption
Piaggio launches 3-wheeler EV in TN, town size does not matter for adoption
Source: IANS
2023-10-26 04:05:56 pm
CPI inflation : Moderation led by food and LPG by Emkay Global Financial Services Ltd The material easing seen in September CPI to 5.02%, led by a sharp reversal in perishable food prices, is likely to continue in October, resulting in a <5% print. With non-perishables are showing signs of persistence, overall food inflation is likely to remain relatively elevated, with risks from a potential weak kharif harvest as well. Core inflation will ease further in H2FY24, and will undershoot headline inflation by 60-65bps in FY24E. We see FY24E inflation at 5.2% (RBI: 5.4%), w...
CPI inflation : Moderation led by food and LPG by Emkay Global Financial Services Ltd
CPI inflation : Moderation led by food and LPG by Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services
2023-10-14 02:18:54 pm
India hikes cooking gas subsidy for second time in just over a month India increased the cooking gas subsidy for low income households to 300 rupees per cylinder from 200 rupees announced in August amid high inflation and ahead of national polls next year.India's retail inflation remained above the central bank's target band of 2%-6% for a second consecutive month in August and low-income families who form a key voter base have felt the pinch of the rise in food prices over the last few months.Prime Minister Narendra Modi will soon be facing elections in key I...
India hikes cooking gas subsidy for second time in just over a month
India hikes cooking gas subsidy for second time in just over a month
Source: Reuters
2023-10-04 05:26:55 pm
Opportunity for OEMs to ride on auto LPG India overtaking Japan to become the third largest auto market in the world recently is a matter of honour. The automobile sector contributes about 7 per cent to the GDP and 35 per cent to manufacturing GDP while generating an employment of about 37 million.In terms of fuel technology, while diesel vehicles have exhibited a downward trend in production and sales, petrol-driven cars have continued to dominate. Simultaneously, CNG variants have shown an impressive surge, with hybrids and EVs re...
Opportunity for OEMs to ride on auto LPG
Opportunity for OEMs to ride on auto LPG
Source: IANS
2023-09-20 09:24:21am
Madhya Pradesh Government to provide LPG cylinder at Rs 450 under Ujjwala and Ladli Behna schemes The LPG gas connection holders registered under the Ujjwala Yojana and Ladli Behna Yojana in the poll-bound Madhya Pradesh will be entitled to get a cylinder for Rs 450.The BJP-ruled state government will bear the remaining cost of the gas cylinder starting September 1. The outstanding amount for the gas cylinder will be credited to the accounts of Ladli Behna. An order has been issued by the state government on Wednesday.It stated that the eligible consumers will receive a subsidy on each re...
Madhya Pradesh Government to provide LPG cylinder at Rs 450 under Ujjwala and Ladli Behna schemes
Madhya Pradesh Government to provide LPG cylinder at Rs 450 under Ujjwala and Ladli Behna schemes
Source: IANS
2023-09-14 01:00:34pm