This is the highest rate for petrol and diesel since September 2018 and followed the 13th increase in rates since November 20 when oil companies resumed daily price revision after nearly a two-month hiatus.
Petrol price in Delhi rose to Rs 82.86 per litre from Rs 82.66. Diesel rate went up from Rs 72.84 to Rs 73.07 per litre. This is the 12th increase in rates since November 20 when oil companies resumed daily price revision after a nearly two-month hiatus.
In a statement OIL stated, “Today, after final abandonment of the well, the Emergency Declaration has been withdrawn with immediate effect. All the jobs pertaining to capping, killing and final abandonment of the well was successfully completed in the evening hours on 3rd December 2020.
OIL stated To keep abreast with latest technological developments, a technology induction initiative “TECHNOTHON” was institutionalized by OIL. Induction of AGG & GM Survey is an outcome of the inaugural session, Technothon-1 held in December 2017.
Elaborating on India's energy strategy going forward, Dharmendra Pradhan said apart from achieving the renewable energy target of 450 gigawatts (GW) by 2030, India will focus on developing in an integrated manner a gas-based economy, cleaner use of fossil fuels, greater reliance on domestic fuels to drive biofuels and moving into emerging fuels, like hydrogen.
Speaking at a webinar series on 'The Road To Atmanirbhar Bharat' organised by Swarajya Magazine, he said India is looking to replicate the Texas model of raising domestic oil and gas production by involving small and mid-sized companies in exploration and production.
"Lot of interest is there," Pradhan said at a webinar series on 'The Road To Atmanirbhar Bharat' organised by Swarajya Magazine. "DIPAM has recently informed market... I think three parties have given EoI for the bidding process."
India’s domestic consumption of petroleum products increased 1.8% year on year to 4.2 million barrels per day in October 2020, the research said. Although the country’s production and exports declined by about 17% and 35% respectively, the report added.
Since 19th November, petrol prices have risen by Rs 1.28 per litre while diesel prices are up by Rs 1.96 per litre. Petrol sold for Rs 82.34 per litre on Monday in Delhi, the highest since 19th October 2018. Diesel sold for Rs 72.42 a litre, the highest since 16th September this year.