Business

South Korea’s Gasoline and Diesel Exports Reach All-Time High in 2024

Published

1 year ago

February 4, 2025

According to data released on Sunday, exports of gasoline and diesel from South Korea’s major refiners reached an all-time high last year. Over 50% of all imported crude oil was sent abroad after being refined domestically. The top four refiners—SK Energy Co., GS Caltex Corp., S-Oil Corp., and Hyundai Oilbank Co.—exported 111.89 million barrels of gasoline and 211.66 million barrels of diesel in 2024, as reported by the Korea Petroleum Association.

This combined total represents the highest export volume since the association began tracking such data in 1992.

Overall, petroleum product exports rose by 4.8% year-on-year to reach 490.45 million barrels in 2024, which is the second-highest amount on record, following the peak set in 2018. However, the revenue from these exports fell by 2.9% to $45.17 billion due to a decline in global oil prices. The association attributed the surge in export volume to domestic refiners’ strategies to find new avenues for growth amidst decreasing refining margins, leading to increased exports of lighter oil products.
In terms of fuel types, diesel constituted 41.1% of the total exports in 2024, followed by gasoline at 22.8%, aviation gasoline at 18%, and naphtha at 8.1%.
Additionally, the state-run Korea Electric Power Corp. (KEPCO) is expected to report an operating profit for 2024, marking its first positive operating result in four years, driven by recent rate increases. KEPCO is projected to achieve an annual operating profit of 8.86 trillion won ($6.07 billion), a significant turnaround from a loss of 4.57 trillion won in 2023, based on data compiled by Yonhap Infomax, the financial data division of Yonhap News Agency.
For the fourth quarter, the company anticipates reporting an operating profit of 2.9 trillion won. KEPCO faced operating losses for three consecutive years beginning in 2021, accumulating a total loss of 43 trillion won, largely due to surging global energy prices influenced by the Russia-Ukraine conflict and other geopolitical concerns.

Business

Overseas Loans by Indian Firms See Sharp Decline

Published

23 hours ago

May 17, 2026

Namma Kudla

Business : Indian companies borrowed $5.43 billion from abroad in March, according to RBI data. This was 51% lower than March last year.

Experts said the weak rupee and high global interest rates made foreign loans less attractive for companies.

In the financial year 2025-26, India Inc raised nearly $43 billion through foreign borrowings. This was down from $61 billion in the previous year.

In March 2025, borrowings had crossed $11 billion due to large deals by companies like JSW Steel and Tata Semiconductor Manufacturing.

Companies are also avoiding overseas loans because hedging costs have become expensive during currency volatility.

The RBI reportedly discussed easing foreign borrowing rules and offering hedging support, but no final decision was taken.

Market experts said the ongoing West Asia conflict has increased uncertainty, making companies cautious about raising funds from abroad.

Business

Fuel Prices Hiked by Rs.3 per Litre across India

Published

3 days ago

May 15, 2026

Namma Kudla

New Delhi: Petrol and diesel prices have been increased by Rs.3 per litre across the country from today. Oil marketing companies revised the rates due to the rise in global crude oil prices.

After the hike, petrol price in Bengaluru has reached Rs.106.17 per litre, while diesel now costs Rs.94.10 per litre.

The increase comes amid fluctuations in international crude oil prices and tensions in West Asia, including the Iran conflict. The fall in the value of the Indian rupee against the US dollar has also increased import costs.

The fuel price hike is expected to affect transportation and daily essentials. Transport charges for goods may rise, leading to higher prices of vegetables, fruits, milk, and other items. Bus, auto, and taxi fares may also increase.

Earlier, fuel prices were reduced before the 2024 Lok Sabha elections. In 2022, the Centre had also cut excise duty to control inflation after the Covid pandemic.

Business

Gold Prices Rise in Mangaluru; Demand for Ornaments Remains Strong

Published

2 weeks ago

May 4, 2026

Namma Kudla

Mangaluru: Gold prices in the coastal city of Mangaluru have been reported at high levels today. The rate for 24 karat gold (99.9% purity) stands at Rs.14,962 per gram. The price for 22 karat gold (91.6% purity) is Rs.13,715 per gram. Meanwhile, 18 karat gold (75% purity) is being sold at Rs.11,222 per gram.

Mangaluru is well known for its deep cultural connection with gold. The city has a long tradition of buying and wearing gold ornaments. This tradition continues strongly even today.

Local jewellers say that demand for gold remains steady despite high prices. Many people still prefer to invest in gold for safety and long-term value. Gold is also an important part of weddings and festivals in the region.

Apart from its love for seafood, Mangaluru is also famous for its gold market. The gold trade in the city has a long history and continues to grow.

Buyers are advised to check the latest rates before making a purchase. They can also use a gold rate calculator to get exact pricing based on weight and purity.

Experts say that gold prices may change depending on global market trends. Customers should stay updated and make careful decisions while buying gold.