Inflation in the fuel and power basket accelerated to 25.85 per cent in September from 22.93 per cent in August, reflecting elevated energy costs amid the West Asia conflict
Brent gained around 14 per cent in September
India’s daily LPG consumption is around 90,000 metric tonnes, compared with domestic production of about 34,000-35,000 metric tonnes
Bhattacharya said the project would also contribute to India’s energy security
India and China are the world's two largest crude oil importers, making developments in global oil supplies and prices particularly significant for both economies
MRPL separately plans to operate its refinery at more than 100 per cent capacity until March next year
Crude prices have risen more than 50 per cent this year as the six-month conflict between the US and Iran has disrupted shipments of crude oil and refined petroleum products from the Middle East
Large forgings, reactor pressure vessels, steam generators, turbines, heavy-duty components and nuclear-grade steel require capabilities concentrated among a handful of companies
The scheme, which will come into effect from 1 September, was approved on Tuesday, according to the Ministry of Petroleum and Natural Gas
The project is also expected to complement the recently commissioned Dergaon-Dimapur Pipeline, which has connected Nagaland to the North East Gas Grid and the National Gas Grid
The assessment comes as energy markets contend with disruption around the Strait of Hormuz and the possibility of continued instability in the Red Sea
Parliament reply shows excise and other levies on petroleum products remained a key source of Union revenues between FY22 and FY26
Proposal is under review by the petroleum ministry and will require finance ministry and Union Cabinet approval before implementation
