APRIL 202319NEWSIOCL-NTPC TO FORM JV FOR RENEWABLE POWER PLANTS"The price of the Indian crude oil basket, in rupee per barrel terms, rose by 23 percent from December 2021 to March 2023, but compared to this, the increase in retail selling price of petrol and diesel in Delhi has only been 1.08 percent and 3.40 percent", the Parliament said. Further "Prices of petrol and diesel have not been increased by public sector oil marketing companies (OMCs) since April 6th, 2022, despite record high international prices, Minister of State for Petroleum Rameswar Teli told the LokSabha. The three OMCs, namely Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, have booked a combined loss of Rs.18,622 crore between April 2022 and December 2022"."The three OMCs have also suffered huge losses on sale of domestic LPG where the price is monitored by Government. To compensate these losses, the Centre has recently paid a one-time compensation of Rs.22,000 crore to them. Prices of petrol and diesel in the country have been market-determined with effect from June 26, 2010 and October 19th, 2014 respectively. Since then, the OMCs take appropriate decision on pricing of petrol and diesel", the minister said. INDIAN CRUDE OIL BASKET PRICE INCREASED 23 PERCENT BETWEEN DECEMBER 2021-MARCH 2023"Specialty chemicals firm Aether Industries on Thursday said it has signed an initial pact with the Gujarat government to build new manufacturing plants at its Panoli Site with an investment of around Rs.1,000 crore. The company has inked a Memorandum of Understanding (MoU) with the Gujarat Government to this effect", Aether Industries said in a statement. With an indicated investment of Rs.1,000 crore, generating future employment for more than 1,000 people, the firm aims to commission the plants by the year 2025, the statement added. In the recent past, the firm had purchased 1,25,000 sq. plots at Panoli GIDC, in Bharuch district.The company aims to use the Panoli plots in an efficient manner to manufacture a variety of products for the first time in India. Surat-based Aether produces advanced intermediates and specialty chemicals. The products find application in the pharmaceutical, agrochemical, material science, coating, high-performance photography and additive, oil, and gas segments of the chemical industry. Presently, the company has three active manufacturing sites, one R&D center and pilot plant in Hojiwala, Surat, and two manufacturing sites in Sachin, Surat. AETHER INDUSTRIES TO BUILD NEW UNITS IN GUJARAT WITH INVESTMENT OF RS.1,000 CRORE
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