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India's <keyword id="252144" type="General" weightage="20" keywordseo="fuel-demand" source="Orion">fuel demand</keyword> fell in the first half of March after posting record growth in the previous month, preliminary industry data showed on Thursday. Fuel sales soared to the highest levels in February on the back of robust demand from the agriculture sector as well as transport picking up after the winter lull. March saw the seasonal slowdown kicking in with a rise in temperatures. <keyword id="3146552" type="General" weightage="20" keywordseo="petrol-sales" source="Orion">Petrol sales</keyword> decreased by 1.4 per cent to 1.22 million tonnes in the first half of March when compared with the same period of last year. Sales fell 0.5 per cent month-on-month, the data showed. Diesel, the most consumed fuel in the country, saw demand slip 10.2 per cent to 3.18 million tonnes from March 1 to 15 when compared with 3.54 million tonnes of sales in the same period a year back. Month-on-month the demand was down 4.6 per cent. During the first half of February, petrol consumption had jumped by almost 18 per cent year-on-year while <keyword id="998651" type="General" weightage="20" keywordseo="diesel-sales" source="Orion">diesel sales</keyword> were up nearly 25 per cent. The consumption of petrol in the first half of March was 16.4 per cent more than the Covid-marred first half of March 2021 and almost 23 per cent more than in the same period of 2020. Diesel consumption was up 11.5 per cent over the first half of March 2021 and 20.2 per cent higher than in 2020. While cold conditions slowed truck movements in January, the onset of spring revived demand in February. With the continued opening of the aviation sector, India's overall passenger traffic at airports inched closer to pre-Covid levels. Reflecting the trend, jet fuel (ATF) demand jumped 19.2 per cent to 2,94,900 tonnes during the first half of March when compared to the same period last year. It was 35.6 per cent higher than in March 2021 but 8.2 per cent lower than in March 2020. Month-on-month sales were almost flat. Sources said while domestic air travel is back to pre-Covid levels, international traffic is lagging because of continued restrictions in some countries. India's recovery has continued to gain momentum in recent months but has been accompanied by elevated inflation. This slowed the momentum a bit. The country's oil demand had been rising steadily since the easing of COVID-19 restrictions. Cooking gas LPG sales fell 9.7 per cent year-on-year to 1.18 million tonnes from March 1-15. LPG consumption was 7.1 per cent higher than in March 2021 and 3.6 per cent more than in March 2020. Month-on-month, the demand dropped 15.10 when compared to 1.39 million tonnes of LPG consumption during February 1-15, the data showed. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/once-again-lemon-prices-soar-to-200-per-kilo/articleshow/98691510.cms">Once again, lemon prices soar to ₹200 per kilo</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/retail-tech-platform-dukaan-lays-off-30-of-its-workforce-second-layoff-in-6-months/articleshow/98692209.cms">Retail tech platform Dukaan lays off 30% of its workforce; second layoff in 6 months</a>

Petrol, diesel sales drop in first half of March after hitting record high in February

Reassuring the country’s commitment to abide by the Paris Climate Agreement, Prime Minister Narendra Modi announced for the first time during his Independence Day Speech delivered on August 15, 2019, that India will produce 175 GW of non-fossil fuel or what can be called as bio-fuels. He urged the nation to bring about a behavioral change in all levels in order to deal with climate change in a sure and steady way. He pledged that India’s target of non-fossil fuels will be more than doubled to 450 gigawatts. PM’s vision about bio-fuels Stating that bio-fuels can steer India’s growth in the 21st century, PM Modi said bio-fuels can also help us reduce our dependence on crude oil. Some of the benefits of using bio-fuels include contributing to a cleaner environment, boosting up the rural employment, and generating additional income to farmers. The PM also drew our attention to the fact that the country could save about Rs. 4,000 crores by mixing ethanol with petrol and the move had also benefitted farmers. Some of the measures highlighted by the Prime Minister in the lines of contributing to a greener environment include increasing the use of CNG in public transport, manufacturing BioCNG from trash, and reducing the need to import CNG. PM explains about Biofuels The topic of biofuels is important from the point of view of science as well as alternative energy sources. Biofuel can be produced from crops, garbage left-overs, and crop-residue. The production of biofuel can transform the quality of people’s lives both in the rural and urban regions. Increasing the use of biofuels can help increase the income of the farmers, create new avenues for employment, protect the nation’s wealth and also contribute to a greener environment. PM visualizes the move towards biofuel as a measure to empower the villages, promote cleanliness, pave the way to modern urban development, reduce air pollution in the cities, and support a plethora of green initiatives. Indian government and biofuel initiatives Efforts to produce ethanol from sugarcane started during Atal Bihari Vajpayee’s governance. However, since the project was launched by the previous government, the scheme was not given the right momentum. After the BJP government took charge of the central government after the 2014 elections, the ethanol blending program was initiated and the scheme operates today in more than 25 states and union territories of India. This project not only helped farmers but also saved about Rs. 4000 crores in foreign exchange. All about green fuels Other than sugarcane, the other sources to produce biofuels include spoiled crops, bamboo, grass, crop residue, cow dung, recycled edible oil, crop stubble, solid waste, and many others. The government initiatives to produce bio-diesel from the used cooking oil discarded in households, commercial kitchens, restaurants and other food processing plants can be used to produce bio-diesel that can make a cleaner, renewable and cheaper fuel. The government has recently announced that the state-run marketing companies will produce bio-diesel from the used edible oil. Bio-diesel can be mixed with any type of diesel. It is non-toxic and bio-degradable. The government’s initiatives in the lines of bio-diesel is a measure to decrease our dependence on oil imports and find alternative sources of greener fuels.

What are Green Fuels that PM Modi talked about in his speech in UN?

India's oil consumption is expected to rise 7-8 per cent this year, outpacing China's demand growth for the third consecutive year, as impact of demonetisation is likely to be short-lived, according to <keyword id="90398" type="COMPANY" weightage="20" keywordseo="Platts">Platts</keyword>, according to news agency. 
 <keyword id="6360114" type="ORGANIZATION" weightage="20" keywordseo="LPG">LPG</keyword> and transport fuels demand will rise, while new petrochemical projects would a boon for naphtha demand. 
 "The dramatic rise in India's oil demand shows no signs of faltering... the country will remain a driver of Asian growth in 2017," <keyword id="3777386" type="UNKNOWN" weightage="20" keywordseo="platts-analytics">Platts Analytics</keyword> said in a note. 
 
The cash crunch following move to demonetise 86 per cent of currency is expected to "temporarily dampen the country's appetite for oil products in the first quarter or maybe a little longer," it said. 
 
"But gains in oil demand that the country is set to achieve from the 'Make in India' initiative -- which aims to raise the share of manufacturing in GDP over the next few years -- will more than offset the negative effects of demonetisation," Platts quoted analysts as saying. 
 
The government's clean fuel drive, sharp anticipated growth in transport demand and air travel, and the country's insatiable growth for petrochemicals will act as a boon for petrol, jet fuel, LPG and naphtha, helping oil products to post close to double-digit growth in 2017 -- similar to that seen last year -- if not higher. 
 
"For the third year in a row, India's oil demand growth will outpace China's demand growth," Platts Analytics said, adding that it was expected to grow at about 7 per cent to 4.13 million barrels per day in 2017, compared with 3 per cent in Chinese oil demand to 11.5 million bpd. 
 
"While growth fundamentals for oil in India remain high, slower growth in the initial months of 2017 because of demonetisation might pull down the overall oil demand growth in 2017 to a shade below 2016 levels of 9 per cent," it said. 
 
H2 2017 oil demand will see limited impact from demonetisation as the initial economic impact peters out and government spending, particularly on infrastructure, rises from increased tax collection. 
 
If implemented correctly, demonetisation will lead to a jump in private investment and more public spending on welfare measures, Platts said. 
 
Since coming to power in 2014, the BJP-led government has undertaken a series of initiatives to help boost LPG penetration across the country. 
 
It has aggressively pushed to expand the LPG dealership network in the country, while it has urged the more affluent class to give up LPG subsidies and pass those savings to the economically poorer sections of society. 
 
LPG demand was expected to grow by about 10.5 per cent year on year in 2017, compared with an estimated 11 per cent in 2016. 
 
Diesel demand is expected to grow by about 4.5-5 per cent in 2017, slightly lower than 2016 levels, as demonetisation had affected rural incomes. 
 
But naphtha demand is expected to show double-digit growth.

Demand for fuel in India to rise, outpacing China

<ul><li>On 4 October, the US’s National Security Advisor John Bolton said that it was “going the extra length” to help allies like <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> find a substitute for Iranian <keyword id="6359072" type="UNKNOWN" weightage="20" keywordseo="oil">oil</keyword>. </li><li>The <keyword id="6354862" type="UNKNOWN" weightage="20" keywordseo="trump">Trump</keyword> administration’s <keyword id="6403436" type="UNKNOWN" weightage="20" keywordseo="sanctions">sanctions</keyword> on <keyword id="41896" type="LOCATION" weightage="20" keywordseo="Iran">Iran</keyword> kick in on November 4th, after which any countries purchasing oil from Iran could be subject to sanctions as well. </li><li>This particularly concerns India, as it sources nearly 10% of its oil imports from Iran and benefits from low prices. </li></ul>The Trump administration’s sanctions on Iran kick in on November 4th, after which any countries purchasing oil from Iran could be subject to sanctions as well. This particularly concerns India, as it sources nearly 10% of its oil imports from Iran and benefits from incentives like extended credit terms and low freight rates. Furthermore, as it struggles under the weight of a growing fiscal deficit and rising <keyword id="4869" type="PERSON" weightage="20" keywordseo="Fuel">fuel</keyword> prices, it will be reluctant to completely cut down on imports from the country as Iranian oil is a lot cheaper than the oil it sources from other countries. Taking note of this, the US has stated its intent to assist India in its search for alternatives. At a White House press briefing on 4 October, the country’s National Security Advisor John Bolton said that it was “going the extra length” to help allies like India find a substitute for Iranian oil at market rates. Bolton reiterated the US government’s zero tolerance for allies that maintained their commercial ties with Iran, explaining that there was limited scope for waivers. This will no doubt send Indian officials into a panic as they were reportedly hoping for a temporary waiver from the US in lieu of slowly reducing their supplies from Iran. While there remains the option of gradually transitioning to a different supplier, the current US administration isn’t known for its patience. In the meantime, refiners are preparing to circumvent sanctions <a href="https://www.businessinsider.in/indias-refiners-will-bypass-us-sanctions-by-paying-for-iranian-oil-in-rupees/articleshow/65885294.cms">by paying for Iranian oil in rupees</a>. However, it remains to be seen how tolerant the US government will be of this measure. Other suppliers As part of the 2+2 US-India talks in September, India discussed purchasing more shale from the US. However, it made it clear that it’s primary considerations would be commercial. India's refineries are better equipped to handle Iranian crude oil, so switching to a different source entailed a lot of short-term costs. In addition, US shale has a much longer journey to India than crude oil from the Middle East. In June, shortly after the US government announced its withdrawal from the Iran nuclear and the re-imposition of sanctions, Indian refiners were asked by the government to search for alternative sources of oil. At the time, it was speculated that these companies would have no choice but to substitute imports from Iran with more expensive purchases from its other main suppliers- Saudi Arabia and Kuwait.

US determined to help India find a substitute for Iranian oil

British petroleum major <keyword id="111764" type="CITY" weightage="100" keywordseo="BP-Plc">BP Plc</keyword>, which is on the edge of entering the rapidly expanding jet fuel market of India, has crossed a significant regulatory milestone in the process. 
 "BP has been granted 'in-principle' approval to market <keyword id="59621" type="ORGANIZATION" weightage="100" keywordseo="Aviation-Turbine-Fuel">aviation turbine fuel</keyword> (ATF) in India ... Air BP aims to build a strong, sustainable and material business in India, drawing upon our global expertise combined with the skills of a strong local partner," a company spokesperson told ET. 
 
What attracted BP to India was its rapidly growing airline business, which is expected to be the third largest by 2020. BP, which is one of the world's largest aviation fuel marketers, has a presence in 50 countries and boasts of several airlines, airports and military organisations as its clients. 
 
After its debut in the Indian market, its long experience, expertise and brand equity will be in competition with the easy supply, longstanding ties with clients and control over marketing infrastructure of the already existing Indian companies. 
 
Talking of the legal formalities, for a licence to market transport fuel in India, a company must have invested or proposed to invest at least Rs 2,000 crore in exploration and production, refining, pipelines or terminals in the country. Last year, the Indian government had rejected BP's application for licence on this very ground. 
 These competitors include private players like Reliance Industries, Essar and a joint venture of Shell and state-run MRPL. However, even these players have failed to challenge the dominance of state firms, and especially <keyword id="6354412" type="COMPANY" weightage="100" keywordseo="indian-oil">Indian Oil</keyword>, which happens to be the market leader with a 64% share. The reasons for its dominance include traditional ties with clients, including the government, and superior infrastructure across the country. 
 
<a href="http://img12.olx.bg/images_prodavalnikcom/86493950_1_800x600_chisto-nova-tsisterna-piko-piko-british-petroleum-ho-187-gr-plovdiv_rev003.jpg">Image source</a>

This global petroleum giant is making its debut in the high-stakes Indian ‘Jet-Fuel’ market

New Delhi, Feb 19 () India will switch to the world's cleanest petrol and diesel from April 1 as it leapfrogs straight to Euro-VI emission compliant fuels from Euro-IV grades now - a feat achieved in just three years and not seen in any of the large economies around the globe.India will join the select league of nations using petrol and diesel containing just 10 parts per million of sulphur as it looks to cut vehicular emissions that are said to be one of the reasons for the choking pollution in major cities.Sanjiv Singh, Chairman of Indian Oil Corp (IOC) - the firm that controls roughly half of the country's fuel market, said almost all refineries began producing ultra-low sulphur BS-VI (equivalent to Euro-VI grade) petrol and diesel by the end of 2019 and oil companies have now undertaken the tedious task of replacing every drop of fuel in the country with the new one."We are absolutely on track for supplying BS-VI fuel from April 1. Almost all refineries have begun supplying BS-VI fuel and the same has reached storage depots across the country," he said. From storage depots, the fuel has started travelling to petrol pumps and in the next few weeks all of them will only have BS-VI grade petrol and diesel, he said. "We are 100 per cent confident that fuel that will flow from nozzles at all the petrol pumps in the country on April 1 will be BS-VI emission compliant fuel." India adopted Euro-III equivalent (or Bharat Stage-III) fuel with a sulphur content of 350 ppm in 2010 and then took seven years to move to BS-IV that had a sulphur content of 50 ppm. From BS-IV to BS-VI it took just three years. "It was a conscious decision to leapfrog to BS-VI as first upgrading to BS-V and then shifting to BS-VI would have prolonged the journey to 4 to 6 years. Besides, oil refineries, as well as automobile manufacturers, would have had to make investments twice - first to producing BS-V grade fuel and engines and then BS-VI ones," he said. State-owned oil refineries spent about Rs 35,000 crore to upgrade plants that could produce ultra-low sulphur fuel. This investment is on top of Rs 60,000 crore they spent on refinery upgrades in the previous switchovers. BS-VI has a sulphur content of just 10 ppm and emission standards are as good as CNG. Originally, Delhi and its adjoining towns were to have BS-VI fuel supplies by April 2019 and the rest of the country was to get same supplies from April 2020. But oil marketing companies switched over to supply of BS-VI grade fuels in the national capital territory of Delhi on April 1, 2018. The supply of BS-VI fuels was further extended to four contiguous districts of Rajasthan and eight of Uttar Pradesh in the National Capital Region (NCR) on April 1, 2019, together with the city of Agra. BS-VI grade fuels were made available in 7 districts of Haryana from October 1, 2019. Singh said the new fuel will result in a reduction in NOx in BS-VI compliant vehicles by 25 per cent in petrol cars and by 70 per cent in diesel cars. The switchover, he said, is a tedious task as every drop of old, higher-sulphur content fuel has to be flushed out in depots, pipelines and tanks before being replaced by BS-VI. "We are confident of disruption-free switchover to BS-VI supplies across the country," he said. "What we will be supplying is the best quality available anywhere in the world. You don't have any better fuel that is supplied in any part of the world. Perhaps our BS-VI fuel will be better than equivalent fuel in some parts of the US and Europe." India adopted a fuel upgradation programme in the early 1990s. Low lead gasoline (petrol) was introduced in 1994 in Delhi, Mumbai, Kolkata and Chennai. On February 1, 2000, unleaded gasoline was mandated nationwide. Similarly, BS-2000 (Euro-I equivalent, BS-1) vehicle emission norms were introduced for new vehicles from April 2000. BS-II (Euro-II equivalent) emission norms for new cars were introduced in Delhi from 2000 and extended to the other metro cities in 2001. Benzene limits have been reduced progressively from 5 per cent in 2000 to 1 per cent nationwide. Lead content in gasoline was removed in phases and only unleaded gasoline is being produced and sold from February 1, 2000. The octane number of gasoline signifies the improved performance of the engine. Loss in octane number due to phasing out of lead was made up by installing new facilities in the refinery and changes in refinery operation. RON (Research Octane Number) of gasoline for BS-2000 spec was increased to 88. This has over time been increased to 91. Singh said sulphur reduction will reduce Particulate Matter (PM) emissions even in the in-use older generation diesel vehicles. ANZ MKJ

India to switch to world's cleanest petrol, diesel from Apr 1

<ul><li><keyword id="6367091" type="UNKNOWN" weightage="20" keywordseo="petrol">Petrol</keyword> and diesel prices reached an all-time high in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> this morning. </li><li>Not only is this a result of the rise in global <keyword id="6359072" type="UNKNOWN" weightage="20" keywordseo="oil">oil</keyword> prices, which are nearing $80 a barrel, but also because of the Indian <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword>’s <keyword id="6356916" type="UNKNOWN" weightage="20" keywordseo="excise-duty">excise duty</keyword> hikes. </li><li>Excise duties and value-added taxes currently comprise over 50% and 40% of the price of petrol and diesel, respectively. </li></ul> Paid a bomb for fuel today? After a three-week pause in the build-up to the Karnataka elections, fuel prices in India reached <a href="https://www.iocl.com/TotalProductList.aspx">a record high</a> this morning after increasing for eight consecutive days. In Delhi, petrol and diesel cost ₹76.87 per litre and ₹68.08 per litre, respectively - a 10% plus rise from the beginning of 2018. The highest fuel prices in the country were seen in Mumbai, where petrol is being sold for ₹84.70 per litre, while diesel costs ₹72.48 per litre. Since June last year, India has had a dynamic pricing regime, wherein fuel prices change on a daily basis in response to the global market. This alarming spike, however, begs the question. Why are fuel prices in India so high? Firstly, global oil prices are rising, <a href="https://oilprice.com/">nearing $80</a> a barrel amid curbs in production by OPEC (Organisation of Petroleum Exporting Countries) countries like Saudi Arabia. However, if this were the only reason, then countries that import oil from India, like <a href="http://ceypetco.gov.lk/marketing-sales/">Sri Lanka</a>, where petrol is currently ₹59 a litre, and Bangladesh, where petrol is <a href="http://www.bpc.gov.bd/contactus.php?id=39">₹69 a litre</a>, would have similar (if not higher) fuel prices. In addition to the global price of crude oil that is borne by distributors, fuel prices in India are composed of excise duty, which is collected by the central government, and value-added tax, which goes to state governments. The higher fuel prices are a direct result of the central government’s taxation and excise policy on petrol and diesel. Since taking over the Centre in 2014, the BJP-led government has hiked excise duties on fuel more than 10 times. It bears mentioning, however, that there have been no hikes this year though global oil prices have risen. Since the initial part of the BJP’s stint coincided with a sharp reduction in global oil prices, it imposed higher duties on customers in order to increase its revenues. As a result, consumers did not benefit from lower oil prices. Despite the price of Brent crude oil plummeting from <a href="https://oilprice.com/oil-price-charts">$102 a barrel </a>in July 2014 to $34 in early 2016, the price of petrol in Delhi only fell from <a href="https://www.iocl.com/Product_PreviousPrice/PetrolPreviousPriceDynamic.aspx">₹73.6 per litre</a> in July 2014 to a low of ₹56.6 by March 2016. From an excise duty of ₹9.20 a litre on unbranded petrol in November 2014, excise duties currently stand at ₹19.48 per litre. Meanwhile, the excise duty on diesel has risen from ₹3.55 a litre in November 2014 to a current level of ₹15.33. Thus, excise duties comprise roughly 25% of the purchase price of fuel today. Including VAT, the proportion comes to <a href="http://www.thehindu.com/news/national/petrol-diesel-prices-hit-highest-level/article23957119.ece">more than 50% in the case of petrol and over 40% for diesel. </a> A correction is necessary High fuel prices affect everyone. They significantly increase your transportation expenses and reduce your disposable income. They increase the costs of transporting goods for companies, which leads to higher product prices. They lead to higher airfare. Even if you don’t own a car, you end up paying higher for transport. The government is likely aware that higher fuel prices and the resulting contraction in demand and investment will weigh on economic growth. Hence, it needs to act decisively. Earlier this week, India’s Oil Minister, Dharmendra Pradhan, told reporters that the government was <a href="https://timesofindia.indiatimes.com/city/bhubaneswar/alternatives-being-explored-to-check-fuel-prices-oil-minister/articleshow/64253207.cms?&amp;utm_source=Articleshow&amp;utm_medium=Organic&amp;utm_campaign=Related_Stories">exploring measures to reduce fuel prices </a>but he gave no details on what these measures were. Since the government has no control over international oil prices, it seems that the only option at its disposal could be to reduce either the duties or value-added taxes on fuel. Another measure involves scrapping duties and value-added taxes entirely and bringing fuel products under the GST regime - something that has been proposed by a number of experts as well <a href="https://www.financialexpress.com/industry/ficci-for-urgent-excise-duty-cuts-on-fuel-as-transport-oil-prices-cross-previous-highs-in-delhi/1175293/">as the FICCI,</a> an industry association. Even the highest tax rate of 28% for luxury products would result in lower prices. Any measures, however, will entail a reduction in government revenues. But it will be worth the boost to aggregate demand.

Here’s why fuel prices in India are at a record high

New Delhi, Mar 2 () India's fuel demand is forecast to rebound to 3.8 per cent in the next fiscal starting April from its slowest pace in six years, according to oil ministry estimates.Petroleum product demand in 2020-21 is expected to total 222.79 million tonnes, up from 216 million tonnes estimate for the current fiscal, the ministry's Petroleum Planning and Analysis Cell (PPAC) said.Fuel consumption in the current fiscal ending March 31 will grow by just 1.3 per cent, its slowest pace in six years.Diesel, the most consumed fuel in the country, is estimated to see a 2.8 per cent growth in FY21 to 86.6 million tonnes as compared with just 0.9 per cent expansion in the current financial year. The growth in diesel demand in 2019-20 is the slowest in five years.Petrol demand is expected to slow to 8.4 per cent to 33.43 million tonnes, from 9 per cent. Cooking gas LPG demand is estimated to grow by 5 per cent to almost 28 million tonnes in FY21.The slowdown in fuel consumption in the current fiscal is reflective of economic growth dipping to an 11-year low of 5 per cent in 2019-20. ANZ BAL

India's fuel demand expected to rebound to 3.8% in FY21

New Delhi, Jun 16 () India's fuel demand has reached 80-85 per cent of pre-Covid levels in the first half of June but return to 5 per cent growth trajectory may take up to two years, Oil Minister Dharmendra Pradhan and industry leaders said on Tuesday. Fuel sales in the world's third biggest oil consuming nation had fallen to their lowest in 2007 as the government imposed a nationwide lockdown to prevent the spread of coronavirus. The demand, which had fallen by as much as 70 per cent, has since recovered after lockdown restrictions were eased beginning early May. "When compared with June 2019, petroleum product demand during the first fortnight of June rose to 80-85 per cent of pre-Covid levels," Pradhan said at a webinar. Fuel consumption at 14.65 million tonnes in May was 47.4 per cent higher than April but 23.3 per cent lower than a year earlier. Diesel - the most consumed fuel - was down about 29.4 per cent in May while petrol sales fell 35.3 per cent. During June 1 to 15, diesel demand has further recovered. At 2.67 million tonnes, it was 15 per cent lower than a year back, industry data showed. Petrol sales at 930,000 tonnes were 18 per cent lower than last year. ATF, whose sales slumped to almost nil as airlines suspended operations, was 73 per cent lower in the first half of June than a year back. LPG sales were up 7 per cent at 960,000 tonnes. Speaking at the webinar, Sanjiv Singh, Chairman of Indian Oil Corp (IOC) - the nation's largest fuel retailer, said the return of growth trajectory in fuel demand will take 2 years. Prior to fuel sales losing momentum in 2019-20 fiscal (April 2019 to March 2020) due to sluggish economic activity, demand had grown at 4-5 per cent. Fuel demand in 2019-20 was almost flat at 213.7 million tonnes. Fuel demand had grown by 3.4 per cent in 2018-19 to 213.2 million tonnes while it had risen by 5.96 per cent in 2017-18 to 206.2 million tonnes. Singh comment implied that return to the trajectory of 4-5 per cent growth in fuel demand annually will take up to 2 years. ANZ MKJ

India's fuel demand reaches 80-85% of pre-COVID levels

<ul><li>Drones are being used to keep a watch over the poll booths during the Indian general election. </li><li>The Election Commission of India is deploying drone technology in areas it considers to be ‘critical’ or ‘sensitive’.</li><li>So far there are reports of the drones being used in <keyword id="397542" type="PERSON" weightage="20" keywordseo="Gautam-Buddh-Nagar">Gautam Buddh Nagar</keyword> in Greater Noida and the <keyword id="2187177" type="PERSON" weightage="20" keywordseo="Bastar-constituency">Bastar constituency</keyword> in Chhattisgarh.</li></ul>The Election Commission of India (ECI) has pulled out the big guns for what could be the biggest democratic contest that India has ever witnessed. There a million polling booths managed by 11 million officers, where as many as 900 million citizens could come to vote. Considering the vast disparity becomes the number of people who will be voting and the number of officials to keep tabs on them, the ECI is using drones and unmanned aerial vehicles (UAVs) — especially in areas it deemed ‘critical’. So, in areas where there’s normally poor turnout, vulnerability or presence of anti-social elements, the ECI is using drones to make the areas safe. 
	
	<div type="twitter" handle="noidapolice" handlename="NOIDA POLICE" image="http://pbs.twimg.com/profile_images/989392202492252160/GKy3DQK0_normal.jpg" favoritecount="452" retweetcount="93" status="#लोकसभाचुनाव2019 जनपद में शांतिपूर्ण रूप से मतदान हेतु ड्रोन कैमरों से की जा रही है सुरक्षा व निगरानी । ➡️बिना डरे… https://t.co/N2JDw4csYc" createdat="1554949771000" id="1116166357714919425"></div>




 In Gautam Buddh Nagar constituency in Greater Noida, 13 drones have <a href="https://www.oneindia.com/india/to-monitor-elections-election-commission-brings-in-drones-for-first-time-2876514.html">reportedly</a> been deployed. 
 
 
 <div type="ExtQuote" text="We are taking all preventive measures to neutralise threats and encourage people to vote in large numbers. Additional troops and CRPF personnel will be deployed at these locations." auname="Gautam Budh Nagar SSP, Vaibhav Krishna"></div>






 Even in Bastar constituency of Chhattisgarh, which has witnessed incidents of left wing extremism, 75,0000 drones will be <a href="https://twitter.com/ANI/status/1116096066632466432?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1116096066632466432&amp;ref_url=https%3A%2F%2Fwww.livehindustan.com%2Fnational%2Fstory-loksabha-elections-2019-first-phase-voting-live-updates-2484283.html">deployed</a> along with 80,000 personnel. The drones will be a key asset to help escort polling parties to-and-from the polling stations where 741 polling booths have been marked ‘hyper sensitive’. In the past, the routes were monitored using helicopters. Compared to manned-vehicles like helicopters, the use of UAVS and drones is not only <a href="http://ficci.in/spdocument/23003/Make-in-India-for-UAS.pdf">cheaper</a>, but faster and safer than traditional methods as well. In cases where drones or the amount of personnel was not enough, the polling stations were moved to new locations altogether in view of how vulnerable they may be to a Maoist threat. See also: <a href="https://www.businessinsider.in/indias-supreme-court-order-on-vvpat-adds-pressure-on-election-commission/articleshow/68776872.cms">India's Supreme Court orders five-fold increase in vote audits putting Election Commission under pressure to prepare</a> <a href="https://www.businessinsider.in/general-elections-2019-vvpat-how-to-verify-vote/articleshow/68475130.cms">Here's how voters can verify their ballots during the world's largest democratic exercise</a> <a href="https://www.cnbctv18.com/economy/imfs-gita-gopinath-says-india-must-transparently-communicated-growth-statistics-2897611.htm">142 million voters go to polls today in 20 states— here’s a look at the key issues in every state</a>

Drones replace bulky choppers making India's elections fuel efficient

<ul><li>The <keyword id="8194701" type="General" weightage="20" keywordseo="refurbished-smartphone" source="Orion">refurbished smartphone</keyword> market has recorded rapid growth in India.</li><li>While the unorganised sellers dominate the market, the organised sellers are also growing.</li><li>Affordability and shorter upgrade cycles are among the factors fueling the refurbished smartphone market.</li></ul> India's refurbished smartphone market is experiencing significant growth, outpacing the new smartphone sector. This reflects a maturing market which is increasingly catering to consumers looking for affordable yet reliable options. According to a report by Counterpoint Research, unorganised sellers dominate the refurbished smartphone market, accounting for 77% of transactions. The Indian refurbished smartphone sector has traditionally been dominated by unorganised players, offering devices at a fraction of the cost of the new models. However, the introduction of value-added services like warranties, quality assurance, and after-sales support by emerging e-commerce platforms is beginning to formalise this market, enhancing consumer trust and driving further growth. <h2>What’s fueling the refurbished smartphone market</h2><h3>Affordability</h3><keyword id="2698558" type="General" weightage="20" keywordseo="refurbished-smartphones" source="Orion">Refurbished smartphones</keyword> offer consumers access to higher-end hardware at lower costs, making premium technology more accessible to a broader audience. This aspect is particularly appealing in a price-sensitive market like India. <h3>Shorter upgrade cycles</h3>With technology evolving rapidly, many users prefer to upgrade their phones more frequently. Refurbished devices provide an avenue for this without the high cost associated with new purchases. <h3>Environmental impact</h3>There's a growing awareness of the environmental benefits of using refurbished products, which reduces electronic waste and the demand for new manufacturing, which is resource-intensive. <h3>Consumer confidence</h3>The entry of organised players who provide guarantees and quality checks on refurbished devices has significantly boosted consumer confidence. These services add a layer of reliability to what was once a market fraught with uncertainty about product condition and longevity. Despite the growth in the unorganised sector, there's a noticeable trend towards formalisation. E-commerce platforms specialising in refurbished goods are expanding, providing consumers with the convenience of online shopping backed by credible service commitments. The report also notes that this growth is not just contained within India. Globally, the refurbished smartphone market is on an upward trajectory, with similar trends observed in markets like Latin America, suggesting a broader international shift towards sustainable consumption in electronics. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/moto-g35-5g-with-120hz-5000mah-battery-launched-at-9999/articleshow/116172283.cms">Moto G35 5G with 120Hz display, 5,000mAh battery launched at ₹9,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-14-pro-and-redmi-note-14-pro-launched-in-india-starting-at-24999/articleshow/116134415.cms">Redmi Note 14 Pro and Redmi Note 14 Pro+ launched in India starting at ₹24,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-camera-centric-to-launch-in-india-on-december-12/articleshow/115930004.cms">Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12</a>

India's refurbished smartphone market witnesses accelerated growth

<ul><li><keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> - <keyword id="32848" type="ORGANIZATION" weightage="20" keywordseo="BP">BP</keyword> to launch 2,000 <keyword id="4869" type="PERSON" weightage="20" keywordseo="Fuel">fuel</keyword> <keyword id="6354851" type="UNKNOWN" weightage="20" keywordseo="retail">retail</keyword> outlets across India over the next three years. </li><li>The move will set off alarm bells for India’s state-owned fuel giants, given their already-declining share of the fuel retail market. </li><li>As private companies gain a larger share of the fuel retail market in urban areas and highways, public-sector retailers will be forced to redirect their focus to rural and semi-urban areas. </li></ul>Reliance Industries, India’s largest company by market capitalisation, and global oil and gas supermajor BP are planning to launch 2,000 fuel retail outlets across India by 202, according to <a href="https://www.livemint.com/Companies/k2rv0minKHjw2lexia1x1H/Reliance-BP-to-jointly-set-up-2000-petrol-pumps-in-India.html">media reports</a> citing company insiders. A formal announcement is expected in the next few months after the specifics of the joint venture are hammered out. The news is likely to send India’s state-owned fuel giants into a tailspin. Their share of the rapidly-growing market has already been on a decline owing to the deregulation of fuel prices, which allows private companies to compete with state-owned ones. The Indian government has made a conscious decision to encourage the entry of private and foreign fuel retailers in recent years, in a bid to promote competition and attract foreign dollars. To that end, the government solicited <a href="https://www.reuters.com/article/us-global-oil/oil-little-changed-despite-saudi-pledge-to-boost-output-idUSKCN1MW02C">a joint investment </a>by Reliance and BP in the fuel retailing sector in June 2017. The move followed the two companies’ decision to develop <a href="https://www.bp.com/en/global/corporate/media/press-releases/bp-reliance-industries-to-progress-partnership.html">a series of deepwater gas fields</a> off India’s eastern coast. In October 2016, BP also secured a license to open <a href="https://in.reuters.com/article/bp-jet-fuel-india-idINKCN1260GE">3,500 fuel retail outlets</a> across India. The government’s open-market agenda is slowly paying off. Private fuel retailers are slated to hold as much as 15% of the market in 2021 compared to 1% in 2010, according to <a href="https://www.crisil.com/content/dam/crisil/our-analysis/reports/Research/CRISIL-Research-fuel-retailing-15May2017.pdf">a report</a> by CRISIL, a ratings agency. As private companies gain a larger share of the fuel retail market in urban areas and highways, public-sector retailers will be forced to leverage their distribution network and focus on rural and semi-urban areas. Reliance likely sees a joint venture with BP as a way of cementing its comeback in the sector. After making large strides in the fuel retailing sector in the early to mid-2000s, the Mukesh Ambani-owned conglomerate was forced to bow out after being unable to match the subsidised prices of state-backed fuel retailers like <keyword id="6354412" type="COMPANY" weightage="20" keywordseo="indian-oil">Indian Oil</keyword> Corp, Hindustan Petroleum and Bharat Petroleum Corp. The company’s re-entry comes on the heels of the deregulation of <keyword id="6367091" type="UNKNOWN" weightage="20" keywordseo="petrol">petrol</keyword> prices in 2010. It has since grown its market share of petrol retail from less than 1% to <a href="https://economictimes.indiatimes.com/industry/energy/oil-gas/private-fuel-retailers-nibble-away-at-indias-booming-market/articleshow/63379804.cms">nearly 7%</a>. But to be sure, state-run retailers still hold 90% of the market. BP and Reliance, along with other private retailers, will continue to be wary of government intervention with respect to prices, especially given their significant capital costs. Following weeks of pressure over high prices, for instance, India’s Finance Ministry announced a ₹2.50 per litre reduction in the prices of petrol and diesel on Oct. 4. BP’s chief executive, Robert Dudley, was quick to voice <a href="https://in.reuters.com/article/energy-india-bp/bp-criticises-price-controls-days-after-india-cuts-cost-of-fuel-idINKCN1MP1QR">his disapproval</a> of the move, saying that it did not bode well for the sector. He did, however, maintain that BP’s play in India was one for the long term, adding that BP and Reliance aimed to meet <a href="https://asia.nikkei.com/Business/Companies/BP-and-Reliance-aim-to-meet-10-of-India-s-gas-needs-by-2022">10% of India’s fuel needs</a> by 2022.

India's Reliance is teaming up with BP in a move that could send the country's state-owned fuel giants into a tailspin

<ul class="summary-list"><li>Fuel made from Russian crude is being funneled into New York by Indian oil refiners, according to data from Kpler.</li><li>New York is purchasing 89,000 barrels a day of gasoline and diesel from India, the most in about four years.</li></ul>Fuel made from Russian oil is being funneled into New York by to Indian refiners who have been snapping up discounted crude from the sanctioned nation.According to data from Kpler, New York has purchased around 89,000 barrels a day of gasoline and diesel this month from from India. That's the most amount of fuel New York has purchased from the nation in nearly four years, <a href="https://www.bloomberg.com/news/articles/2023-01-31/fuel-made-from-russian-oil-is-keeping-new-york-from-running-out">Bloomberg</a> reported, and that fuel is likely being made using banned Russian oil, of which <a href="https://markets.businessinsider.com/news/commodities/russia-crude-oil-eu-ban-india-china-record-western-sanctions-2023-1">India has become a top buyer</a> amid western sanctions. Russian oil has been shunned by the west since the country invaded Ukraine last February. But the energy superpower has been handing off its excess crude supplies to friendly countries–namely, China and India–in record amounts as it tries to <a href="https://markets.businessinsider.com/news/commodities/russia-central-bank-western-oil-price-cap-eu-ban-economy-2022-12">plug the shortfalls</a> stemming from US and European sanctions. India in particular began <a href="https://markets.businessinsider.com/news/commodities/russia-crude-oil-eu-ban-india-china-record-western-sanctions-2023-1">purchasing record amounts of crude oil from Russia</a> after the European Union banned seaborne oil and slapped a <a href="https://markets.businessinsider.com/news/commodities/eu-sanctions-russian-oil-price-cap-crude-price-outlook-exports-2022-12">$60 price cap on Russian crude</a>, and New York has been purchasing growing amounts of Indian fuel as European exports have fallen off in the past few months. That could worsen once the EU bans Russian fuel imports on February 5, exacerbating the supply shortage in Europe and potentially ratcheting up New York's demand for Indian fuel. Russia's energy revenue is still likely to suffer once the new fuel ban kicks in though, experts say. <a href="https://markets.businessinsider.com/news/commodities/russia-fuel-embargo-eu-diesel-g7-price-cap-china-india-2023-1">China and India are unlikely</a> to ramp up their purchases of Russian fuel, since there's no need to, Kpler's lead crude analyst previously told Insider. That could mean more headwinds for <a href="https://markets.businessinsider.com/news/commodities/russia-war-ukraine-sanctions-economy-growth-oil-gas-exports-revenue-2022-9">Moscow's economy</a> as the war and western sanctions drag on.

Fuel made from Russian oil is being funneled to New York by Indian refiners that are snapping up discounted crude

<ul><li><keyword id="6358032" type="COMPANY" weightage="20" keywordseo="SpiceJet">SpiceJet</keyword> conducted its first successful <keyword id="53632" type="PERSON" weightage="20" keywordseo="biofuel">biofuel</keyword> test flight from Dehradun to New Delhi in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>.</li><li>The fuel used was a blend using 25% biojet fuel, made from the <keyword id="58467" type="CITY" weightage="20" keywordseo="Jatropha">Jatropha</keyword> crop and 75% air turbine fuel (ATF). </li><li>While this may be a fix for India’s dangerous air pollution levels, some industry analysts suggest biofuel can hedge against the increasing prices of <keyword id="84980" type="ORGANIZATION" weightage="20" keywordseo="petroleum">petroleum</keyword>.</li></ul>Monday morning, in north India, a <a href="https://www.livemint.com/Companies/MdSRE8Tt8hjZCAHumy2ARM/SpiceJet-to-test-Indias-first-biofuelpowered-plane-today.html">SpiceJet flight took off</a> marking a new chapter in India’s green economy. Travelling from the city Dehradun to the national capital of New Delhi, the budget carrier pulled off India’s first biofuel test flight. 
	<div type="twitter" handle="dpradhanbjp" handlename="Dharmendra Pradhan" image="http://pbs.twimg.com/profile_images/586139075737849857/Z92jKYtn_normal.png" favoritecount="247" retweetcount="76" status="Today’s historic milestone is in- sync with Hon. PM Shri @narendramodi’s vision of promoting #Biofuels to create we… https://t.co/OXLsTUKQyA" createdat="1535356527000" id="1033986334132772865"></div>



 The flight lasted for around 25 minutes with 20 people onboard running on 75% air turbine fuel (ATF) and 25% biojet fuel. Otherwise, the Bombardier Q400 has the capacity to accomodate 78 passengers. 
	<div type="twitter" handle="sureshpprabhu" handlename="Suresh Prabhu" image="http://pbs.twimg.com/profile_images/934764717565865986/hiVqsbBN_normal.jpg" favoritecount="780" retweetcount="183" status="Flagged off the maiden Bio-Fuel flight by SpiceJet this morning with @jayantsinha, MoS, Civil Aviation,… https://t.co/GqcW1evV4V" createdat="1535357732000" id="1033991388377956353"></div>



 This particular biojet fuel is used making the Jatropha crop, developed by the Council of Scientific and Industrial Research - Indian Institute of Petroleum (CSIR-IIP). It meets the global standards prescribed by Pratt &amp; Whitney and Bombardier for commercial applications. Importance of biojet fuel Where airlines, alone, are responsible for 2% of the <keyword id="56310" type="PERSON" weightage="20" keywordseo="greenhouse-gas">greenhouse gas</keyword> (GHG) emissions globally, biofuels are an integral part of the solution. Improving engine efficiency and tinkering with the aerodynamics of a plane can help marginally, shifting entirely to renewable <keyword id="59783" type="PERSON" weightage="20" keywordseo="Jet-fuel">jet fuel</keyword> is the key <a href="https://cen.acs.org/articles/94/i37/boarding-Commercial-planes-take-flight.html">according</a> to the International Air Transport Association (IATA). Around the world more than 2,500 commercial flights have already flown using renewable biofuel. The reason jet biofuels are more efficient than batteries, fuel cells or even liquified hydrogen, is due to the scalability issues. Using the alternatives would require switching up the infrastructure and changing how energy is derived altogether. Jet biofuels, on the other hand, chemically mimic what petroleum jet fuel can already do. That means it can be used within the existing infrastructure and engine designs. That being said, since current aviation biofuels only use linear and branched paraffins, the plane has to run on a blend of biofuels and petroleum fuels. While the SpiceJet flight used a 25% blend, Neste fuel at the Oslo Airport uses a 50% blend and AltAir Fuels uses a 30% blend for the American airline carrier, United Airlines. The global aviation industry has promised to reduce their net carbon emissions by 50% come 2050 in comparison to emissions in 2005. To be fair, over the past 50 years, the pollution created per passenger has gone down by 75%. A majority of that reduction has happened in the past 15 years as the demand for air travel has boomed. But there’s a catch First off, while we know the contribution of aviation to air pollution globally, there are no national studies to ascertain how much air pollution is caused by airlines within the country. And, while it’s commonly known that the world’s most polluted cities lie in India, the division of accountability between the different sources is yet to be ascertained. The Indian Institute of Tropical Meteorology (IITM) is <a href="https://www.thehindubusinessline.com/news/science/massive-exercise-underway-to-map-air-pollution-sources-in-delhi/article23814578.ece">planning</a> on a fix, for the national capital at anyway, since it has the worst air quality in the world. Which is why the primary reason for employing this solution in India, as cited by airline executives, is due to rising costs of ordinary jet fuel. Between the airline fares dipping and aviation fuel prices rising at an increasing rate, biofuels serve as a lynchpin to bring the cost situation under control. 
 <div type="Youtube" id="dMppf6MpLTs" title="Address at the inauguration of the maiden Bio-fuel flight in India by Spicejet" thumbUrl="https://i.ytimg.com/vi/dMppf6MpLTs/mqdefault.jpg"></div>



 (Representative image)

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