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Hybrids catching up fast with EVs; Maruti, Toyota driving growth
Last Updated: May 26, 2024, 06:01:00 AM IST

Sales of hybrid transmission cars and SUVs are rapidly increasing, challenging electric vehicles in market share. Maruti Suzuki and Toyota offer popular models in this segment, with hybrid vehicles capturing 2.48% of the passenger vehicle market in Q1 2024.

Oil edges higher after inflation gloom hit prices
Last Updated: May 24, 2024, 07:38:00 PM IST

Oil prices crept higher on Friday, having been under pressure from lingering concerns that sticky inflation could prolong higher interest rates and curb fuel demand.

There's a fork in the road to clean energy
Last Updated: May 26, 2024, 11:10:00 PM IST

Hybrids run on electricity generated by burning fossil fuels. This situation will not change as we move up the hybrid technology tree. EVs, too, run on electricity produced in India principally from fossil fuels. However, transition to renewables makes EVs progressively less polluting. At some point in the future, EVs will be far cleaner than hybrids. So, do the two categories deserve the same fiscal encouragement?

Oil prices little changed as markets look to OPEC+ meeting
Last Updated: May 27, 2024, 07:13:00 AM IST

Oil prices in holding pattern ahead of OPEC+ meeting on June 2 to discuss maintaining output cuts. Brent crude contract inches up to $82.23 a barrel in early Asian trading.

Oil set for weekly loss as markets worry about demand
Last Updated: May 25, 2024, 10:00:00 AM IST

Oil prices rose on concerns of high interest rates impacting fuel demand. Federal Reserve's interest rate policy, US crude oil inventories, and statements from Fed Chair Jerome Powell influenced market sentiment. Analysts anticipate market shifts as OPEC+ considers extending production cuts and reports emerge of oil overproduction by Russia.

India, Egypt top destinations for Russian seaborne fuel oil, VGO exports in April, LSEG data shows
Last Updated: May 23, 2024, 02:54:00 PM IST

Crude oil Import: In April, India and Egypt were key destinations for Russian seaborne fuel oil and vacuum gasoil exports, with a total 10% decrease in exports due to maintenance and outages. The EU's embargo redirected Russian exports to Asia. Shipments to India rose while those to China decreased. Egypt saw increased fuel oil supplies for power generation.

What is 'Net Zero', anyway? A short history of a monumental concept
Last Updated: May 23, 2024, 12:53:00 PM IST

The G7 leaders recently committed to achieving net zero emissions by 2050, with the Albanese government in Australia introducing legislation to create a Net Zero Economy Authority to drive investment in clean energy. The concept of net zero, aiming to balance carbon emissions with carbon sinks, emerged from early climate negotiations in the 1990s. It gained traction in the late 2000s as a metric for assessing mitigation efforts and became a key goal of the 2015 Paris Agreement. However, challenges remain in ensuring fairness and equity between developed and developing nations, and in avoiding greenwashing by corporations.

India's use of crude tankers to export diesel slows in May
Last Updated: May 23, 2024, 02:52:00 PM IST

Indian refiners reduce diesel shipments to Europe in May due to rising inventories and weak price spreads. April saw high exports, mostly from Reliance Industries' Jamnagar refinery, using Aframax and Suezmax vessels. Cost factors and ample European supply prompt refiners to shift focus back to Asia, exacerbating regional supply glut.

Oil slips for third session on likely 'higher for longer' US rates
Last Updated: May 22, 2024, 07:25:00 AM IST

U.S. crude oil and gasoline inventories rose last week, while distillates fell, according to market sources citing American Petroleum Institute (API) figures on Tuesday.

For fleet operators, revenue growth to double to 9-11% in FY25: Report
Last Updated: May 23, 2024, 04:11:00 PM IST

CRISIL Ratings predicts that road transport fleet operators' revenue growth will double to 9-11 per cent this fiscal, driven by better domestic demand and tepid exports. Operating margins are expected to improve 75-100 basis points due to better fleet utilization and steady fuel costs. Operators may moderate capital expenditure for fleet expansion, following strong additions in the past three fiscal years.

Oil flat as firming US gasoline demand offsets rate jitters
Last Updated: May 24, 2024, 07:19:00 AM IST

Oil market cautious ahead of OPEC+ meeting on June 1 to discuss extending 2.2M bpd output cuts. U.S. fuel demand and Fed's inflation concerns impact prices.

Believe it or not: Even in Saudi Arabia, renewable power is cheaper than fossil fuels
Last Updated: May 23, 2024, 01:53:00 PM IST

Saudi Arabia has signed deals to purchase electricity from two large-scale wind farms at record-low prices, cheaper than natural gas plants. The kingdom aims to shift rapidly to a larger share of renewables in the power grid, with the goal of generating half of its power from clean sources by 2030. The projects, developed by Japan's Marubeni Corp, benefit from state backing and favorable wind conditions in the country, making them more cost-effective than fossil fuel alternatives. The country's move towards renewable energy is part of Crown Prince Mohammed Bin Salman's efforts to diversify the economy away from oil dependence.

Auto component industry to double investment to $7 billion; Craftsman Automation could give 19% return
Last Updated: May 22, 2024, 01:06:00 PM IST

Auto component industry to double investment to $7 billion; Craftsman Automation could give 19% return. Premiumization trend drives shift to 'premium' vehicles. UV mix in PVs at 60% in FY24. 125cc+ segment in motorcycles at 52% in FY24. Social media influences rural trends. Finance accessibility boosts premiumization. India targets net zero emissions by 2070, promoting EVs and biofuels.

India to get next-generation nuclear fuel, says Russian Nuclear Agency chief; calls nation a key partner
Last Updated: May 24, 2024, 11:30:00 AM IST

Atomic Energy Commission chairman Ajit Kumar Mohanty was hosted by the Russian Atomic Chief in Siberia's Tomsk region in Russia on Thursday. The Russian Atomic Chief showed Mohanty the fourth-generation site that will host the safest atomic reactor in history, RT-India reported.

Diesel, petrol export revenues dip 20% to $33 bn in 2023-24
Last Updated: May 08, 2024, 12:51:00 AM IST

India's exports of diesel and petrol fell by a fifth year-on-year to $33 billion in 2023-24 due to declining international prices. Diesel generated the largest share of export revenues for Indian refiners, accounting for $22 billion of the $48 billion earned by exports of refined fuels. The war in Ukraine and Western sanctions on Russia caused fuel prices to rise, boosting export earnings for Indian refiners.

'If India had not been clear on Russia-Ukraine war, petrol price would have gone up': EAM Jaishankar on foreign policy
Last Updated: May 05, 2024, 10:45:00 PM IST

Jaishankar emphasized the crucial role of foreign policy in citizens' lives, citing India's clear stance on the Russia-Ukraine war. He highlighted world issues, UNSC membership aspirations, and the importance of strong leadership.

Delhi man's viral video raises concerns over petrol pump fraud
Last Updated: Apr 10, 2024, 08:36:00 AM IST

Cases of fraud at petrol pumps, including tampering with machine settings, have sparked outrage online. A recent viral video shows a Delhi man alleging fraud at a petrol pump in Sadiq Nagar. The post, shared on X, has garnered over 550k views, leading to calls for government action. Commenters shared their own experiences and called for stricter regulations and audits in the fuel industry. Netizens expressed outrage and concern over the incidents, highlighting the need for increased scrutiny of petrol pump operations.

Buy Hindustan Petroleum Corporation, target price Rs 510: Anand Rathi
Last Updated: Apr 12, 2024, 09:45:00 AM IST

Hindustan Petroleum Corporation Ltd. key Products/Revenue Segments include Refinery, Rent and Other Operating Revenue for the year ending 31-Mar-2023.

Car sales & summer heat fuel petrol demand in April
Last Updated: May 01, 2024, 11:26:00 PM IST

Sales of petrol by state-run fuel retailers rose 12.3%, showed provisional data sourced from state-run companies. This is lower than the overall increase of 14% for the industry, indicating market share expansion for private players. Similarly, diesel sales by state-run companies fell 2.3% against an overall 1% rise for the industry in April. ATF and LPG sales by state-run companies expanded by 7% and 12%, respectively, in April.

Armed group attacks trucks on NH 37 in Manipur, one driver injured
Last Updated: Apr 17, 2024, 12:29:00 PM IST

Suspected attackers intercepted petrol and LPG tankers traveling along NH-37, in Manipur’s Tamenglong district. Sources said that around 10.30 am attack was launched causing substantial leakage of liquefied petroleum gas (LPG), petrol, and diesel onto the roadside drains. Tires were flattened.

"Petrol bomb attacks won't be repeated" assures Meghalaya CM Conrad
Last Updated: May 04, 2024, 06:59:00 AM IST

Meghalaya Chief Minister Conrad K Sangma has pledged to prevent further petrol bomb attacks in Shillong after a recent spate of incidents. The government is working to ensure such violence doesn't happen again, with police taking steps to make arrests based on evidence. Seven attacks have occurred in less than a month, sparking fears of escalating violence. The CM emphasized the government's commitment to arresting those involved and maintaining law and order. High-profile figures, including Major General (retd) Rajesh Kumar Jha and the Deputy Chief Minister, have been targeted in these attacks, highlighting the seriousness of the situation.

Petrol bomb thrown at Meghalaya Deputy Chief Minister Sniawbhalang Dhar's residence
Last Updated: Apr 26, 2024, 08:27:00 PM IST

His house is situated in Nongmynsong within the East Khasi Hills district. He lodged a First Information Report (FIR) which led to an increase in security in and around his property. Recently, individuals on motorcycles threw a petrol bomb at a police vehicle that was escorting Director of NEEPCO (Personnel) Major General (retired) RK.

Tripura government imposes restriction on sale of petrol, diesel
Last Updated: May 01, 2024, 08:22:00 PM IST

Tripura govt restricts fuel sale due to disrupted train movement. Restored passenger service, but goods train halted in Jatinga, Assam. Fuel rationing in place with daily vehicle limits. Restoration progress ongoing in Assam's Jatinga.

Buy Hindustan Petroleum Corporation, target price Rs 590: Motilal Oswal
Last Updated: Apr 18, 2024, 09:19:00 AM IST

Hindustan Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 66529.92 Crore) operating in Gas & Petroleum sector.

Petrol sales up 7%, diesel declines 9.5% in April
Last Updated: Apr 16, 2024, 04:30:00 PM IST

In the first half of April, India's petrol consumption surged by 7%, reaching 1.22 million tonnes, compared to 1.14 million tonnes during the same period last year. However, diesel sales witnessed a decline of 9.5% to 3.14 million tonnes. This rise in petrol sales can be attributed to increased use of personal vehicles following a price cut, along with the crop harvesting season and the onset of summer.

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