October 15, 2024: India’s refinery sector is dominated by state-owned companies (public sector). The country’s FY starts from April 1. The Gross Refining Margins (GRMs) of public sector refineries declined sharply during the quarter April-June 2024-25 mainly on account of the shrinking discounts from Russian crude. Click column Special Database for details.

October 14, 2024: Petroleum products are taxed heavily in India and this is precisely why petrol and diesel are among the highest priced in Asia. This is a political decision as India imports 87 per cent of its crude oil requirement. Click column Special Database for details of taxes and price build-up of petrol and diesel.

October 10, 2024 | ONGC: A Crying Need To Return To The Basics | Pakistan recently reported a major oil and gas find in its territorial waters that could give it the bragging rights to claim ownership of the world’s fourth largest oil and gas reserves. The report has galvanized the Government of India and the national oil companies to announce an aggressive exploration and production (E&P) programme in the country that will be packed with sufficient incentives to disarm the reservations of global oil giants that have generally refrained from acquiring oil and gas fields in the country. S&P Global recently revealed that India could hold up to 22 billion barrels of oil and gas in just four of the largely unexplored basins: Mahanadi, Andaman Sea, Bengal, and Kerala-Konkan. The oil find in Pakistan should encourage ONGC, and to some extent Oil India Ltd (OIL), to introspect about their lapses and review all facets of the past exploration efforts. Click Free Access Column Petro Intelligence to read comprehensive article on the subject.