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One area in which India can definitely use the lower oil prices to its advantage is to stock up on the commodity for future use(Bloomberg)

Use the oil crash to boost India’s strategic reserves| Analysis

By Anupam Manur
PUBLISHED ON APR 22, 2020 06:50 PM IST
Add another 12 days of storage capacity; look outside for storage facilities; and lock in long-term contracts
Fuel prices have increased steadily over the past three years. LPG and fuel oil used for electricity generation and bakeries are not included in the commitment to reaching full cost recovery through subsidy cuts, the letter said.(Reuters/ Representative Image)
Fuel prices have increased steadily over the past three years. LPG and fuel oil used for electricity generation and bakeries are not included in the commitment to reaching full cost recovery through subsidy cuts, the letter said.(Reuters/ Representative Image)

Egypt to slash fuel subsidies as it nears end of IMF programme

CAIRO | By Reuters
UPDATED ON APR 06, 2019 10:55 AM IST
The letter from Egypt’s finance minister and central bank governor was included in an IMF staff report dated Jan. 28 and published following the disbursement in February of the fifth out of six tranches of the loan.
India’s oil and gas subsidies fell by 70% from financial year (FY) 2014 to FY 2017.(HT File Photo)
India’s oil and gas subsidies fell by 70% from financial year (FY) 2014 to FY 2017.(HT File Photo)

Fall in oil and gas subsidies: Report

New Delhi | By Jayashree Nandi
PUBLISHED ON DEC 22, 2018 08:26 AM IST
There was a massive increase of Rs 5,770 crore in renewable energy subsidies from 2016 to 2017, which shows that the energy mix in India is gradually changing.
An engineer of Oil and Natural Gas Corp (ONGC) works inside the Kalol oil field in the western Indian state of Gujarat. In the past, ONGC has been asked to share fuel subsidies by selling oil to refiners at a discount, a burden that was taken entirely off its back only in the year ended March 2017.(REUTERS File Photo)
An engineer of Oil and Natural Gas Corp (ONGC) works inside the Kalol oil field in the western Indian state of Gujarat. In the past, ONGC has been asked to share fuel subsidies by selling oil to refiners at a discount, a burden that was taken entirely off its back only in the year ended March 2017.(REUTERS File Photo)

ONGC’s once cash-rich reserves have shrunk by over 90% on govt demands

Bloomberg | By Saket Sundria and Debjit Chakraborty
UPDATED ON JUN 11, 2018 11:42 AM IST
ONGC’s largest shareholder, the Indian government, has been tapping state-run companies including the country’s biggest energy explorer to bridge its fiscal deficit.
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