Oil Prices Rise Amid Iran-Israel Tensions Despite Record U.S. Output
South and Southeast Asia to Invest Over $20 Billion in EV Development
A recent report by S&P Global Ratings projects that South and Southeast Asia will invest over $20 billion in electric vehicle (EV) development in the coming years, with India poised to attract significant EV-related investments. The report highlights India's vast market potential as a key driver for this growth. According to the report, the Tata and JSW groups are expected to invest over $30 billion in EVs and EV materials over the next decade, with approximately $10 billion allocated specifically for projects in South and Southeast Asia. The adoption of electric vehicles in India is anticip..
India and Saudi Arabia Explore Collaboration in Emerging Sectors
India and Saudi Arabia are exploring partnerships in emerging fields such as fintech, new technologies, energy efficiency, clean hydrogen, textiles, and mining to strengthen trade and investment ties, an official statement revealed on Friday. The discussions took place during Commerce and Industry Minister Piyush Goyal's visit to Riyadh, where he co-chaired the second meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council (SPC) with Saudi Energy Minister Abdulaziz bin Salman Al-Saud on October 30. These sectors were identified as high-potential are..
Fuel Demand Rises in India, Except for Diesel in October 2024
India's consumption of petrol, aviation turbine fuel (ATF), and LPG surged in October 2024 compared to the same period last year, signaling increased demand in a strengthening economy. According to data released by public sector oil companies, petrol sales grew by 7.3%, LPG consumption jumped by 7.5%, and jet fuel demand rose 2.5% year-on-year. The rise in petrol sales, which reached 3.1 million tonnes in October, up from 2.87 million tonnes a year ago, was driven by robust vehicle sales across urban and rural areas. Jet fuel consumption hit 6,47,700 tonnes, fueled by increased air travel, as..