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Indian oil cuts output, imports as Covid-19 pandemic hits demand

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full lockdown.State-run Bharat Petroleum Corp has cut its crude imports by 1 million barrels in May and will reduce purchases by 2 million barrels in June, a company official said.M.K.

Surana, chairman of Hindustan Petroleum Corp, expects India's fuel consumption in May to fall by 5% from April as the impact on driving and industrial production is not as severe as last year."This time it is not a full lockdown like last time," he said."Sales in April was about 90% of March and we expect May could be about 5% lower than April."This story has been published from a wire agency feed without modifications to the text.Never miss a story!

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The economy is recovering, says President during meeting with professionals
COLOMBO (News 1st); President Gotabaya Rajapaksa said that the nature or extent of the challenges will not matter in fulfilling the promises made to the people.He noted that development activities continue in the country while taking necessary steps to control the COVID-19 pandemic.The President also pointed out that the economy, which had been collapsed for nearly two years, is gradually recovering.The President made these remarks participating in the first round of discussions in a series of sessions with professionals representing various fields, held at the President’s House on Friday (11).The professionals who participated in the discussion said that they are further committed to make the national programme a success by giving the necessary strength to achieve the goals desired by the President, said a statement.The professionals vehemently rejected the allegations spread by some sections with the objective of achieving narrow political agendas, the statement added.Experts in the field said that the new approach to agriculture initiated by the President is being continuously supported by the researchers and entrepreneurs who are engaged full time in these fields, further noted the statement.Representatives from a wide range of fields, including education, policy, sociology, agriculture, research, water and renewable energy, medical, engineering and innovation, were present at the discussion with the President.Ministers, State Ministers, Members of Parliament, the Governor of the Central Bank, the Secretary to the President, the Principal Advisor to the President and many others were also present.
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