#MintPrimer | Demand for refined #petroleum products hit a record in FY23, led by transportation fuel.
The Petroleum Planning & Analysis Cell (PPAC) said consumption reached 222.30 million tonnes in the last fiscal.
Mint explains this spike: livemint.com/industry/energ…
#MintPrimer | The 222.30 million tonnes of petroleum products consumed in FY23 was 10.2% higher than the year before. The previous record for consumption came in FY20 at 214.13 million tonnes.
Read here: livemint.com/industry/energ…
#MintPrimer | The increase in consumption of #petrol, #diesel & jet fuel during FY23 came on the back of growth in industrial activity & travel.
These activities recovered after slowing down in the previous two fiscals because of the pandemic.
Read here: livemint.com/industry/energ…
#MintPrimer | India consumed 222.30 million tonnes of petroleum in FY23 which was 10.2% higher than the year before.
The consumption is projected to rise even further.
Read here: livemint.com/industry/energ…
#MintPrimer | According to provisional trade data released by the commerce ministry on Wednesday, India’s import of #crudeoil and #petroleum products rose 29.5% to $209.57 billion in FY23.
Read here: livemint.com/industry/energ…
#MintPrimer | According to PPAC projections, the demand is likely to set a new record in FY24, nearly 5% higher compared to FY23.
Read here: livemint.com/industry/energ…
#MintPrimer | Increase in petroleum product demand boosted refining margins of #oil marketing companies (OMCs).
According to PPAC, in April-December, major state-run refiners at least doubled their gross refining margins.
Read here: livemint.com/industry/energ…
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