Total consumption, a proxy for oil demand, totalled 20.04 million tonnes in January, up from 18.51 million tonnes last year, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Prime Minister Narendra Modi courted top oil and gas executives, showcasing opportunities in India s growing economy and discussing reforms in the sector. The executives included global giants like ExxonMobil, BP, and TotalEnergies. Modi highlighted the recently launched exploration licensing round and reforms in the bidding process.
Modi On Oil Investment In India: Prime Minister Narendra Modi courted top oil and gas executives, showcasing opportunities in India s growing economy and discussing reforms in the sector. The executives included global giants like ExxonMobil, BP, and TotalEnergies. Modi highlighted the recently launched exploration licensing round and reforms in the bidding process.
Indian Diesel Exports: The country s exports of the fuel for August to Europe, on the other hand, are poised to fall to their lowest this year, according to one shiptracker, as shipments to the east are more profitable, but that situation may not last.
The rise in Indian diesel exports to Singapore will compensate partially for lower exports from refiners in northeast Asia including China, and the increased availability will therefore cap strong refining margins in Asia. Conversely, European refiners margins will be supported by the lower imports from the South Asian nation.