INDIA: Crude oil import bill to rise 29% in fiscal 2017, says ratings agency

(EnergyAsia, November 21 2017, Tuesday) — With the price of Brent crude recently touching a two-year high, India is bracing for a sharp rise in its oil expenditure for the current fiscal year ending March 31 2018. According to ICRA, a ratings agency owned by Moody’s Investor Service, India’s oil import bill could rise by (more…)

INDIA: Domestic oil demand continues to surge, partly boosted by new GST and economic reforms, say consultants

(EnergyAsia, November 18 2017, Saturday) — India’s domestic oil consumption is surging, helped in part by recent economic reforms including the introduction of the national goods and services tax (GST), said two energy consultants. UK-based Wood Mackenzie said the surge in vehicle purchases before the GST came into effect in October 2017 will underpin strong (more…)

INDIA: Experts skeptical of government’s plan to boost domestic oil, gas production

(EnergyAsia, November 5 2017, Sunday) — Energy experts have cast doubts on the Indian government’s plan to boost domestic oil and gas production over the next five years, never mind the long term. India relies on imports to meet over 80% of its domestic oil demand and half its natural gas consumption, both of which (more…)