June 15, 2021: Global Rig count represents the total number of active drilling rigs in the world. Normally, demand for drilling rig is highly dependent on crude oil price. In April 2021, this theory worked in reverse gear. Click column Special Database for details. 

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June 14, 2021: Clarity Missing In Import Figures Of Petroleum Products for April 2021. As Usual LPG and Petcoke accounted for a major share of import, but a comparison with product-wise import figures of April 2020 not available in the official data. Click Special Database for details.

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June 10, 2021 | BPCL Selloff Plan’s Success Hinges On Creation Of Effective Regulator: At one stage, India’s petroleum sector was totally controlled by the public sector. The popular myth that private players inject competition into the market prompted the government more than 15 years ago to license Reliance Industries and Essar to set up refineries. There is no evidence so far that their entry into the downstream sector has benefitted the consumer. The logic behind privatisation of BPCL as explained by petroleum minister Dharmendra Pradhan is that it will inject the much needed competition into the market. The entry of private players as such, Indian or foreign, will not be able to bring about competition. It does not matter who buys BPCL. It can be sold to whoever pays the highest price. The benefit to the market depends on how the government regulates the downstream sector. India has an ineffective downstream regulatory Act. Even worse, it has incompetent regulators. The government will have no role in the downstream oil sector if the regulation is proper. Click Free Access Column Petro Intelligence for a comprehensive piece on the subject.