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On July 20,2022, the GoI has also reduced the cesses imposed on July 1, 2022, on exports of HSD (by Rs 3/litre to Rs 10/litre now), and ATF (by Rs 2/litre to Rs 4/litre now) and removed the cess on exports of MS (of Rs 6/litre). The GoI has further exempted exports from SEZ units from the levy of the Special Additional Excise Duty (SAED).
8What is the impact of this?

8The Vedanta Group is now foraying in a big way into the fertilizer sector

8DOF will stay shut for a day

8In the urea tender, IPL has made a counter-offer to bidders

8June LNG supplies were significantly down
8And the price paid was higher too

On July 22, 2022, the Delhi market witnessed a rise in lauric acid prices.

On July 22, 2022, Mumbai witnessed a fall in aluminum plate prices.

Secondary lead prices were assessed higher today in Mumbai.

Petrochem sources reported a significant fall in caprolactam prices in the Mumbai chemical market.

Robust demand has lifted octanol prices in the Kandla market.

Fumed silica grade CAB-O-SIL M-5-g prices were assessed lower in the Delhi market today.

On June 22, 2022, Petrochem sources reported a fall in manganese sulfate prices in the Delhi market.

Robust demand has lifted cyclohexane prices in the Mumbai market.

Robust demand has lifted C9 solvent prices in the Mumbai market.

Ammonia Storage Tank Greenfield Project
8Cost: 100 Cr.
8Project Event: The RFQ for the ammonia storage tank with associated facilities has been out and the due date has been extended from 11 July to 8 August 2022.
DAP/NPK Greenfield Project
8Cost: 300 Cr.
8Project Event: Feasibility study is still ongoing and is likely to be completed in October 2022. RFQ for the LSTK contractor is likely to be released in Q3 FY 2022-2023. PDIL has been selected for the preparation of the Techno-Economic Feasibility Report. Based on the feasibility report of PDIL, future action shall be planned

On July 22, 2022, the Mumbai market witnessed a rise in acetic acid prices.

8Project Name: Lucknow District City Gas Distribution
8Project Cost: Rs 300 crore
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8Project Name: Agra District City Gas Distribution
8Project Cost: Rs 250 crore
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8India is slated to import 1.94 million mt of LPG in July, according to Kpler shipping data, with the record volumes set to further build up inventory boosted by recent increases in domestic production.

8Indian refiners bought just 4% of all Russian crude exports in June, down from 7% in May, but imports from the country were still higher than the pre-invasion level, according to the Helsinkibased independent research organisation Centre for Research on Energy and Clean Air (CREA).

8The Minister of State for Petroleum and Natural Gas, Shri Rameswar Teli in a written reply today in Lok Sabha informed that the Government is implementing the Ethanol Blended Petrol (EBP) Programme and Sustainable Alternative Towards Affordable Transportation to promote Bio-Fuels with the broader objectives of promoting the domestic agriculture sector, ensuring environmental sustainability, reducing import dependency, and saving foreign exchange.

8Oil was up on Friday, a change after sliding in the previous sessions from weakened demand in the U.S. and a rise in supplies from Libya. rose by 1.34% to $105.25 by 10:34 PM ET (2:34 AM GMT) while  fell 1.26%, to $97.56. Data showed that U.S. gasoline demand had dropped nearly 8% from a year earlier in the midst of the peak summer driving season.

8Work on the Rajasthan petrochemicals complex is going on in full swing, with more than 50 per cent of the job having been done, according to state government officials.

Petrochem sources reported a significant fall in acetonitrile prices in the Mumbai chemical market.