Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Iron ore miners near deal with China
China's steelmakers are likely to reach a deal with Australian iron ore miners this month in price talks long deadlocked over the miners' demand for a freight premium, a senior Chinese steel official says. Zhang Xiaogang, chairman of the China Iron and Steel Association, also indicated a softer stance toward the miners' demand for the freight-linked sweetener, as the world's largest steel industry faces a June 30 deadline when the Australians will become free to sell more ore into the pricier spot market.
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700 fuel outlets in Punjab run dry
As more than 20 per cent of the retail outlets of various state-run oil marketing companies in Punjab ran dry today, panic-struck people began hoarding petrol and diesel, wherever available. The situation was worse in rural belts of Amritsar and Jalandhar and in the districts of Bathinda, Barnala and Sangrur, where people began storing diesel in drums. Fearing that the diesel supply would be restricted, paddy cultivators, who require diesel in this season to run the tubewells, were reportedly hoarding huge quantities of diesel.
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Cong still indecisive over fuel price rise
THE KEENLY-AWAITED decion on petrol and diesel prices, expected to be finalised on Saturday, has been deferred by the government yet again. A comprehensive proposal to address the ongoing spurt in crude oil prices with a combination of price hike and duty cuts, is expected to be taken up next week after the Congress leadership finalises its view.
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Oil crisis is worse than 9/11, says Boeing
American aircraft major Boeing has termed the impact of ongoing crude oil crisis on aviation as
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Fuel price hike put off over quantum
Decision Likely Next Week After CWC Meet The Congress's core ministerial panel on Friday gave its green signal to raising motor fuel prices but the quantum of increase emerged as a hitch. A decision is now expected only next week, after two high-profile political meetings
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Common minimum hike: Rs 1-2 for fuel, Rs 20 LPG
AMITAV RANJAN Hike, Cuts & Bonds But Govt will push for Rs 3 & Rs 2 per litre for petrol and diesel, Rs 50 for LPG as it anticipates ally pressure. The government has, in principle, decided to increase prices of petrol by Rs 2 per litre, diesel by Re 1 per litre and cooking gas by Rs 20 per cylinder but will try and push for a higher raise at Saturday's Cabinet meeting.
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Food Report Criticizes Biofuel Policies
Agriculture Secretary Edward T. Schafer is preparing to walk into a buzzsaw of criticism over American biofuels policy when he meets with world leaders to discuss the global food crisis next week. Mr. Schafer took the offensive at a press conference on Thursday that discussed the food summit, planned for Rome. He said an analysis by the Agriculture Department had determined that biofuel production was responsible for only 2 to 3 percent of the increase in global food prices, while biofuels had reduced consumption of crude oil by a million barrels a day.
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HPCL warns of curtailing supplies
State-run Hindustan Petroleum Corporation Limited on Thursday warned that it would be forced to resort to curtailment of supplies to retail outlets if fuel prices were not raised immediately. It said it was running out of cash due to high under-recoveries. Addressing a press conference here, HPCL chairman Arun Balakrishnan said the corporation would meet very soon to carry out a review of import of petrol and diesel, as the present situation was not comfortable at all.
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India's policy regime marred by bad ideas
The Growth Report Denounces Energy Subsidies, Cut In Public Spending On Infrastructure To Reduce Fiscal Deficit THE government's decision to subsidise consumers of petroleum products by resisting revision of prices despite a sharp rise of crude is a "bad idea' measured by the yardstick of The Growth Report released recently by the Commission for Growth and Development, a special-purpose grouping of leading minds in finance, economics and policymaking, majorly from the developing world.
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Moderate hike in fuel prices "finalised'
A "mixed bailout package,' comprising a "moderate hike' in the prices of diesel and petrol and a re-adjustment in the customs duty on crude oil and the excise duty on the two fuels, was understood to have been "finalised' at a meeting between Prime Minister Manmohan Singh and United Progressive Alliance (UPA) chairperson Sonia Gandhi and some Ministers on Thursday evening.