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India oil import bill falls 10% to $101 billion in FY20

By : Sustainability ..., Jun 1, 2020

At least in the oil sector, the global health emergency posed by the spread of the novel coronavirus has come to the country's advantage. India's oil import bill has fallen close to 10 per cent in FY20 as the increasing spread of coronavirus and demand squeeze globally has...

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Subject Tags: coronavirus , imports , oil , price

Green energy’s $10 trillion revolution faces oil crash test

By : Sustainability ..., Mar 11, 2020

In 2014, when the price of oil last crashed, the world’s governments had no agreement in place to fight climate change. The following year leaders signed the Paris accord. Green investments have soared since then. Some $1.2 trillion has been poured into renewable energy, and...

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Govt mulling premium on petrol, diesel prices on BS-VI switchover

By : Sustainability ..., Dec 23, 2019

Consumers may feel the pinch of higher fuel prices in coming months as the government is considering a proposal to allow oil marketing companies charge a premium on retail prices of petrol and diesel to recover their investment in producing less polluting fuel. Public and...

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India looking at cutting west coast refinery capacity as cost escalates to $60 bn

By : Sustainability ..., Aug 8, 2019

India is looking at cutting capacity at its biggest oil refinery to match lower fuel demand projections and contain costs which jumped to USD 60 billion due to meeting stringent environment...

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IEA: Global oil market to hit surplus in early 2017

By : sustainabilityo..., Jun 15, 2016

Oil supply and demand will balance after a series of unplanned production outages, but the market is expected to tilt into surplus in the first half of next year, the International Energy Agency...

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Subject Tags: market , oil , OPEC

The oil industry is using solar power in an ironic new way

By : sustainabilityo..., Feb 22, 2016

There’s a huge project taking shape in the deserts of Oman. It will extract crude oil from the ground by pumping vast quantities of steam into it. To produce the steam, water will be brought to...

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Fuel marketers to meet 5% ethanol blending target this year: Oil Minister Dharmendra Pradhan

By : sustainabilityo..., Feb 12, 2016

State-run fuel retailers will meet the target of blending 5 per cent ethanol in petrol for the first time this year, about a decade after the government set the target, oil minister Dharmendra...

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Oil Plunge: Eroding or Accelerating the Sustainable Economy?

By : Sustainability ..., Jan 9, 2015
Crude oil prices have been falling precipitously all through the latter half of 2014, and every time they hit a new low, they have been making headlines. This has been the single greatest energy story since 2010 and the slump doesn’t seem to be abiding...
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Fossil fuel subsidies dig world into economic, environmental hole

By : Sustainability ..., Nov 14, 2014

In the same week that a new study found that G20 nations, including Australia, were providing $US88 billion ($A102 billion) a year in subsidies just for fossil fuel exploration, another report – this time from the highly conservative International Energy Agency – has put a...

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Subject Tags: energy , oil , research , subsidy

Oil futures plunge to 4-year lows amid global supply glut

By : Sustainability ..., Nov 14, 2014

Oil futures tumbled to the lowest level in more than four years on Thursday, as ongoing concerns over a glut in world markets continued to drive prices lower. On the ICE Futures Exchange in London, Brent for January delivery fell by as much as 2.2% to touch a daily low of $79...

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Subject Tags: energy price , oil