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Government cuts windfall tax on crude oil

Government cuts windfall tax on crude oil

🕔06:41, 17.Sep 2022

New Delhi, Sep 17 (IANS) The government on Friday cut windfall tax levied on locally- produced crude oil from Rs 13,300 per tonne to Rs 10,500 per tonne. The government also cut tax on Aviation Turbine Fuel (ATF) exports to Rs

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Oil price rises after Biden fails to secure agreement on increasing Saudi supply

Oil price rises after Biden fails to secure agreement on increasing Saudi supply

🕔16:58, 18.Jul 2022

Jeddah, July 18 (IANS) The price of crude oil rose on Monday after US President Joe Biden came away from talks in the Middle East without an agreement on raising supply, The Guardian reported. Biden had hoped to secure a promise

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Time to review windfall tax on oil

Time to review windfall tax on oil

🕔13:23, 13.Jul 2022

Chennai, July 13 (IANS) The fall in the crude oil prices as well as the refining margin for diesel, petrol and aviation turbine fuel, raises the question whether the Indian government should continue with its windfall tax, said CLSA Ltd in

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Cabinet approves Deregulation of Sale of Domestically Produced Crude Oil

Cabinet approves Deregulation of Sale of Domestically Produced Crude Oil

🕔17:55, 29.Jun 2022

New Delhi, June 29: The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has approved ‘Deregulation of Sale of Domestically Produced Crude Oil’, whereby Government has decided to cease allocation of crude oil and condensate w.e.f.

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Iraq to raise daily oil output to 4.58mn barrels

Iraq to raise daily oil output to 4.58mn barrels

🕔11:28, 4.Jun 2022

Baghdad, June 4 (IANS) Iraq said that its oil production would reach 4.58 million barrels per day (bpd) in July and August. The latest increase came after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known

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Rosneft boosts production with domestic innovations

Rosneft boosts production with domestic innovations

🕔06:58, 26.May 2022

Orenburgneft, Rosneft’s subsidiary and part of its oil and gas production segment, has achieved record oil production results from introducing domestic innovations. New Delhi, May 26 (IANS) Orenburgneft, Rosneft’s subsidiary and part of its oil and gas production segment, has achieved

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Iraq exports 101 mn barrels of crude oil in April

Iraq exports 101 mn barrels of crude oil in April

🕔11:59, 2.May 2022

Baghdad, May 2 (IANS) Iraq exported about 101 million barrels of crude oil in April, bringing in revenues of $10.55 billion, the Oil Ministry said. The average selling price for crude oil in April was $104.09 per barrel, according to a

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Russian oil exports to India quadrupled in March as Europe shuns cargoes

Russian oil exports to India quadrupled in March as Europe shuns cargoes

🕔10:33, 19.Mar 2022

Russian oil exports to India have quadrupled this month in a sign of the vast reshaping of global energy flows since Russias invasion of Ukraine, Financial Times reported. London, March 19 (IANS) Russian oil exports to India have quadrupled this month

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Iran ready to meet India’s energy needs, says Ambassador Chegeni

Iran ready to meet India’s energy needs, says Ambassador Chegeni

🕔10:31, 19.Mar 2022

Iran is ready to meet India’s energy needs by launching rupee-rial trade for export of oil and gas, said Ali Chegeni, Tehran’s Ambassador to New Delhi. New Delhi, March 19 (IANS) Iran is ready to meet India’s energy needs by launching

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Airline industry calls for rationalisation of ATF taxes

Airline industry calls for rationalisation of ATF taxes

🕔11:02, 17.Mar 2022

New Delhi, March 17 (IANS) India’s domestic airlines have called for rationalisation of taxes on jet fuel to counter the massive rise in fuel prices. On Wednesday, high crude oil prices led OMCs to hike ATF prices to more than Rs

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With crude hovering around $95-$130, fuel price hike inevitable

With crude hovering around $95-$130, fuel price hike inevitable

🕔13:06, 13.Mar 2022

Continued hostilities between Russia and Ukraine as well as rising demand is expected to keep global crude oil prices in the range of $95-$125 per barrel in the short to medium term. New Delhi, March 13 (IANS) Continued hostilities between Russia

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Iran ready to supply required oil for world market: Official

Iran ready to supply required oil for world market: Official

🕔12:51, 12.Mar 2022

Mohsen Khojasteh Mehr, head of the National Iranian Oil Company (NIOC), has said that his country is ready to supply the required oil for the world market and stabilise prices. Tehran, March 12 (IANS) Mohsen Khojasteh Mehr, head of the National

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UAE, Saudi Arabia refuse to take calls from White House on oil prices

UAE, Saudi Arabia refuse to take calls from White House on oil prices

🕔15:40, 9.Mar 2022

The White House unsuccessfully tried to arrange calls between President Biden and the de facto leaders of Saudi Arabia and the UAE as the US was working to build international support for Ukraine and contain a surge in oil prices,

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Oil price at highest level since 2008; Asian markets slump

Oil price at highest level since 2008; Asian markets slump

🕔12:31, 7.Mar 2022

New Delhi, March 7 (IANS) Oil prices have soared to the highest level since 2008 after the US said it was discussing a potential embargo on Russian supplies with its allies, BBC reported. Brent crude — the global oil benchmark —

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Shell defends decision to purchase Russian crude oil

Shell defends decision to purchase Russian crude oil

🕔19:38, 6.Mar 2022

Shell has defended its decision to purchase Russian crude oil despite the invasion and bombardment of Ukraine, BBC reported. New Delhi, March 6 (IANS) Shell has defended its decision to purchase Russian crude oil despite the invasion and bombardment of Ukraine,

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10-year High: Ukraine crisis pushes crude price close to $120 a barrel

10-year High: Ukraine crisis pushes crude price close to $120 a barrel

🕔07:24, 4.Mar 2022

New Delhi, March 4 (IANS) Continuing hostilities between Russia and Ukraine pushed crude oil price to a 10-year high of $119.84 per barrel on Thursday. The global hike in crude oil prices led by the Russia-Ukraine crisis is expected to push

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Oil India shares surge 10% as global crude prices touch multi-year high

Oil India shares surge 10% as global crude prices touch multi-year high

🕔08:56, 3.Mar 2022

Shares of state-run Oil India jumped nearly 10 per cent on Wednesday due to skyrocketing global crude oil prices. New Delhi, March 3 (IANS) Shares of state-run Oil India jumped nearly 10 per cent on Wednesday due to skyrocketing global crude

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IEA member nations to release 60 million barrels of oil

IEA member nations to release 60 million barrels of oil

🕔07:34, 2.Mar 2022

The 31 member countries of the governing board of the International Energy Agency (IEA) on Tuesday agreed to release 60 million barrels of oil from their emergency reserves to send a unified and strong message to global oil markets that

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Crude at $105: India to suffer from high inflation, import bill

Crude at $105: India to suffer from high inflation, import bill

🕔12:50, 25.Feb 2022

Russia-Ukraine war has accelerated Brent Crude Oil prices which raced to $105 per barrel on Thursday and is expected to mar India’s economy with high inflation. At present, India which imports 85 per cent of its crude oil needs, is

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