Budget 2022 must focus on India’s new energy transition

India imports 80 percent of crude oil, and 54 percent of LNG representing ~38 percent of India’s energy consumption. For every 10 percent increase in crude oil price, there is an impact on India’s current account deficit by $10 billion, or negative 0.4 percent of GDP. Crude oil prices have increased by nearly 28 percent

India’s oil production continues to slip, down 2% in December

India’s production of crude oil, which is refined to produce petrol and diesel, continued to decline in December 2021, with lower output from state-owned ONGC leading to a near 2 per cent drop, official data showed on Wednesday. Oil production in December 2021 was 2.51 million tonnes, down from 2.55 million tonnes a year earlier

IOCL clarification on rollout of Ethanol Blended Petrol across the NE States

Indian Oil Corporation Ltd. has recently planned to roll out 10% Ethanol Blended Petrol (E10) across the 7 North Easters states with a 100% rollout in Guwahati. The blending of 10 % ethanol in Petrol in India is a practice which is nearly 2 decades old now and has been implemented across the country. Implementation

Prices continue to rise as OPEC + celebrate its founding

As the OPEC+ group commemorates the 5th anniversary of its founding, oil prices continued to rise despite the ongoing increase in the rate of infections with the Omicron variant, as Brent crude rose 3.3 percent. The cancellation of many flights did not affect the price rise, which amounted during this year to more than 45