India’s crude oil import bill is likely to jump by about $26 billion in 2018-19 as rupee dropping to a record low has made buying of oil from overseas costlier, government officials said today. Besides, the rupee hitting a record low of 70.32 to a US dollar in the opening deal today will also lead […]
Day: August 16, 2018
Japan steps up U.S. LPG purchases in fallout from Sino-U.S. trade conflict
Japanese utilities and industrial companies are snapping up U.S. cargoes of liquefied petroleum gas (LPG) that are seeking a new home after Chinese buyers started to shun them amid an escalating trade war between Washington and Beijing. Taking in fuel that would otherwise be heading for China means Japanese imports of U.S. LPG are set […]
Kerala rains dirupt Carborundum Universal’s hydel power plant operations
Murugappa Group company Carborundum Universal in a statement said the company’s hydel power plant in Maniyar that generates power for captive consumption of its electrominerals division has been flooded and is currently not generating power. The electrominerals division contributes up to 26% of the company’s standalone revenues, according to the statement. CUMI has a market […]