Read more about Harsh winter in key markets drives spot LNG prices in Asia to record levels on Business Standard. Spot LNG in Asia is highly sensitive to marginal demand in Japan, Korea and China, where heating load has gone up significantly. Emergency buying by Japanese power firms is driving prices up
Pandemic-hit government finances gets crude rescue, oil import bill to fall daijiworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daijiworld.com Daily Mail and Mail on Sunday newspapers.
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At least in the oil sector, the global health emergency caused by coronavirus is coming to India s advantage. While the relatively lower global prices helped the government boost its revenues by increasing duty on auto fuels, the demand squeeze due to the pandemic and softer crude prices could help it further by sharply reducing the import bill that may fall to decade-low levels of $60 billion in FY21.
Declining consistently since April, India s oil imports fell 18.14 per cent (YoY) to around 122.7 million tonnes (MT) in April-November period of FY21 as compared to 129.9 MT in the same period last year.
In value terms, the April-June oil imports stood at $32.4 billion, down 53.44 per cent in the dollar terms from $69.6 billion in April-November of FY20.
Morning Brief (ET Bureau)
Rachita Prasad | 21:55 Min | December 10, 2020, 8:00 AM IST
Petrol and diesel prices are inching towards all-time highs in India where consumers pay some of the highest fuel taxes in the world. K Ravichandran, Executive VP at ICRA, Debasish Mishra, leader for energy resources at Deloitte, and ET’s Deepshikha Sikarwar discuss what triggered the price hike and whether consumers can expect any relief soon.
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