Eight core industries’ combined output increased by 6% in February as compared to 5.9% in the same month last year. It’s interesting to note that the Commerce and Industry Ministry increased the core sector growth estimate for January 2023 from 7.8 to 8.9 percent. An official statement stated that the core industries’ overall growth rate from…
According to data provided by the Commerce Ministry on Tuesday, India’s wholesale inflation, which is based on the all-India Wholesale Price Index (WPI), decreased to 3.85 % in February from 4.73 % in January. This is less than the 4% prediction made by Reuters. The data made public indicate that the decrease in the rate…
India, the third-largest energy user in the world, saw a 6% year-over-year decline in natural gas consumption in 2022 as a result of high costs, according to the International Energy Agency (IEA). According to data from the Petroleum Planning and Analysis Cell (PPAC), India used 60,523 million standard cubic meters of natural gas in the…
Despite the fact that the first anticipated polar vortex in four years could arrive as soon as next week, natural gas prices fell further on Wednesday as traders tried to fix a market that had risen nearly 30% over the previous five sessions. The Henry Hub on the New York Mercantile Exchange saw a decline…
The biggest oil and gas producer in India, ONGC, said on a conference call with investors that it would reverse years of production drop this year and progressively increase output going forward as it invests billions to produce from more recent discoveries. Oil and Natural Gas Corporation (ONGC) produced 21.707 million tonnes of crude oil…
According to an RBI assessment, persistently high inflation remains a key policy worry for the Reserve Bank, which has raised rates aggressively this year, but the pressure may subside next fiscal assuming normal rains and the continued normalization of global supply chains without any exogenous shocks. The Reserve Bank of India (RBI) anticipates retail inflation…
Prices of natural gas are likely to rise to record levels at the rate review scheduled this week. On October 1, 2022, The central Government-mandated price for domestic natural gas will be altered. After accounting for the recent spike in energy costs, the price paid for gas generated from old fields, such as those held…
India’s government is analyzing a slower retirement of maturing coal-fired power plants as it also adds newer sites, a move that would keep fossil fuel capacity higher for years and potentially stall efforts to hit climate goals. Officials are considering a proposal to shutter less than 5GW of existing capacity by the end of the…
India’s crude oil production rose by 4.6% year on year to 2.6 million tonnes (mt) in May 2022. Compared with the target for the month, the output was higher by 2.4%. Progressively, the output during the first two months of FY23 raised around 2% y-o-y to 5.1 mt, while it was higher by 2.9% compared…
Oil bounce back on Wednesday after jumping nearly 10% over the previous two sessions, encouraged by supply concerns as the European Union works on gaining support for a stop on Russian oil and as major manufacturers warned they may suffer to fill the gap when demand increases. Oil prices have slipped with commodities and share…
