According to International Energy Agency (IEA), demand for oil across the globe would remain muted because of worsening Chinese business sentiment, a slowdown in European economies and the impact of budget cuts by the US government. In its monthly oil market report, the agency said the above factors seem to delay further an elusive turnaround in global economic, and in turn oil demand,
Tag: market
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Sale of bulk diesel declines sharply
According to media reports, sale of diesel to bulk customers declined about 40 percent in February, the first month after the government allowed oil firms to charge market price for bulk consumers. It may be noted that bulk diesel sales usually account for 18 percent of the 70 million tonne of diesel consumed in
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Govt encourages latest technologies in steel sector
The Minister of Steel, Beni Prasad Verma has said that government through its policies has been pursuing adoption of latest technologies for improving efficiency of Indian steel industry. The report of the Working Group on Steel Industry for the 12th Five Year Plan, National Steel Policy and Roadmap for R&D and Technology etc. enlist such meas
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Domestic firms raise funds via overseas bonds
So far in 2013, Indian companies raised $4 billion by issuing bonds in the international market in order to take advantage of lower interest rate compared with the domestic bond market. According analysts, India Inc may continue to tap the overseas bond market in order to meet their funding requ
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PSU steel firms modernize existing units
Union Minister of Steel, Beni Prasad Verma has said that Public Sector Undertakings like SAIL and RINL have undertaken modernization and expansion projects at their Integrated Steel Plants (at Bhilai, Bokaro, Rourkela, Durgapur, Burnpur and at Salem of SAIL and Vizag Steel Plant of RINL) to enhance its crude steel production capacity. The expansion of Salem Steel Plant of SAIL has already been completed and the other projects are in varioUnion Minister of Steel, Beni Prasad Verma has said that s
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NMDC reduces iron ore lump prices by 2.2%
NMDC, which decides its monthly iron ore prices on the basis of domestic demand and supply position, reduced the same for lumps by about 2.2 per cent for March. The firm trimmed the price of ore lump by Rs 110 a tonne, with the new price being Rs 4,950 a tonne. The reduction in the price of lumps may provide some relief to d
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SAIL setting up 11 steel processing units
Minister of Steel, Beni Prasad Verma has said that there are 11 Steel Processing Units (SPUs) which are to be set up to meet the specific requirements of the consumers in different states by Steel Authority of India (SAIL) as indicated below: Bihar - At Bettiah, Mahnar and Gaya
Madhya Pradesh - At Hoshangabad, Ujjain and Gwalior
Himachal Pradesh - At Kangra
Utta
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Demand for oil may improve in 2013
Brokerage firm Nirmal Bang expects demand for crude oil to improve slightly in 2013 following lower growth in 2012 on account of muted economic recovery. Demand is expected to grow by 1 mpbd or 0.9 percent approximately on a year-on-year (y-o-y) basis in 2013 compared to a fall of 0.4 percent last year. Dem
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Experts suggest aggressive steps on oil pricing reforms
Some industry observers and experts are not satisfied with the move to de-control diesel prices partially by the government and they seek more aggressive steps on this front. It may be recalled that recently, the government allowed oil marketing companies (OMCs) to raise diesel price
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Experts suggest aggressive steps on oil pricing reforms
Some industry observers and experts are not satisfied with the move to de-control diesel prices partially by the government and they seek more aggressive steps on this front. It may be recalled that recently, the government allowed oil marketing companies (OMCs) to raise diesel price