The fuel delivery scheme mainly targets consumers that buy in bulk.
India's pricing policies for petroleum products -- end-user price caps -- are increasingly causing 'oil product adulteration' and 'pollution' in addition to severe imbalances in demand and supply for oil products as well as rising subsidy bill and heavy financial losses by refineries, says Paris-based International Energy Agency.
The world economy will consume in the next five years far less oil than previously assumed, the western countries' energy watchdog said on Friday in a further sign of the impact of the global economic crisis on commodities markets.
Gazprom, Russia's gas monopoly, on Tuesday predicted oil prices would reach $250 a barrel in 2009. The prediction came as the developed world's energy watchdog warned that record high oil prices were needed to choke off demand in order to balance the oil market.
The Financial Times, London, reports that Nobuo Tanaka, the first Asian head of the International Energy Agency, has stated that the organisation must work more closely with the two Asian giants.
The domestic currency had lost 44 paise in the previous two days.
India will join hands with Paris-based International Energy Agency to counter artificial price volatility in the international oil market and create buffers for supply disruptions.
India and the US had on July 17 signed a preliminary agreement for cooperating on emergency crude oil reserves, including the possibility of India storing oil in the US emergency stockpile.
Lauding India's progress in the energy sector, the International Energy Agency on Monday said that investment in the gas sector in the country would rise to over $50 billion by the year 2030.
Amidst the expectations game for the ongoing elections, stock markets seem to be overlooking one fact, which to us is of significance, i.e. rising crude prices.
The International Energy Agency increased on Thursday its estimate of global demand for oil this year by 470,000 barrels per day to a total of 81.1 million bpd owing particularly to strong first-quarter demand in India and Brazil.\n\n\n\n
The European Commission will propose scrapping tariffs on jet fuel imports starting January 1, an official said on Friday.
India, the world's fourth-biggest oil consumer, recently offered Saudi Aramco a stake in refineries and petrochemical projects.
US commercial crude oil stocks were forecast to have risen by 3 million barrels last week
Pradhan met Energy Secretary Rick Perry during an unscheduled trip to the US Capitol and discussed energy cooperation between India and the US, Indian investment in Liquefied natural gas and shale sectors, and the possibility of the US exporting LNG to India from early next year.
India is the world's fourth-largest importer of natural gas, accounting for six per cent of the global market.
India and China are associate partner countries of IEA.
Usually, a fall in oil prices is followed with a cut in retail prices of auto fuels and the government passes on the benefit to consumers. However, Morgan Stanley believes gains this time around will remain capped.
India will become the largest single source of global oil demand growth after 2020, the International Energy Agency said.
The Central government is stuck between the devil and the deep blue sea as far as the runaway fuel prices are concerned.
India's planned transition to electric vehicles will drastically affect the commodities market, says Aditya Gandhi
The US dollar's weakness against some currencies overseas capped the losses.
India is currently the world's fourth-largest oil consumer after the United States, China and Japan
Crude oil's long price slide might be ending, feel some experts. Last Friday, the price of Brent crude, seen as a benchmark for what India uses, saw a low of $75.3 a barrel - it is now trading around $79. The fall has been nearly a third from its high seen in June, only five months earlier.
Oil subsidies to fall 44% in FY15.
The major reason for the policy confusion over e-vehicles is the lack of conviction within government about the utility of this disruptive technology and its role in India's larger Paris Agreement climate change commitments.
India has promised to reduce the emission intensity of its growth by 33-35 per cent from 2005 levels by 2030.
The drop in oil to around $50 a barrel this year has triggered steep cutbacks in production of US shale oil
The ongoing oil price decline is mainly a result of oversupply in the global market
OPEC's move to cut output has pushed up oil prices. From here it could go either way: oil could reach $100/barrel or an analysis of demand and supply might follow, say Abheek Barua & Bidisha Ganguly.
India expects to remain unscathed this time, mainly because it is in a sweet spot as the world's third largest oil consumer, after the US and China, says Subhomoy Bhattacharjee.
Arunabha Ghosh on why India will increasingly become an energy great power, but not an energy hegemon.
Saudis are interested in expanding their relationship with India, given it is becoming the main driver of crude demand growth in Asia
India has already pipped Japan as the world's third-largest oil consumer.
Global supply is staying in excess of demand.
Benchmark Brent oil futures prices more than halved between June 2014 and January 2015.
Piyush Goyal is leading a delegation to deliberate with Australia.
With the weaker-than-expected agreement at the recent Climate Change Conference at Lima, there is an urgent need to highlight endeavours in civil society and business for a sustainable global economy with grassroots empowerment, say Rajni Bakshi.
Further deterioration of the US-Saudi relationship will have geo-economic and geopolitical effects, says Nitin Pai.
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