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India basket of crude rose 102% between Oct 2020-Oct 2022

India basket of crude rose 102% between Oct 2020-Oct 2022

🕔21:10, 28.Dec 2022

New Delhi, Dec 28 (IANS) Even as the average price of Indian basket of crude oil increased by 102 per cent (from $43.34 to $87.55) between October 2020 and October 2022, the retail prices of petrol and diesel have increased

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Russia offers to help India overcome crude price cap: Reports

Russia offers to help India overcome crude price cap: Reports

🕔11:54, 12.Dec 2022

New Delhi, Dec 12 (IANS) Russia is said to have offered to help India overcome the oil price cap, which has been imposed by Western nations on the world’s largest country. “In order not to depend on the ban on insurance

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Centre hikes windfall tax on domestic crude oil

Centre hikes windfall tax on domestic crude oil

🕔16:32, 17.Nov 2022

New Delhi, Nov 17 (IANS) The Central government has hiked windfall tax on domestic crude oil and reduced the tax on export of diesel. The tax on crude oil produced by State-owned ONGC was hiked to Rs 10,200 per tonne from

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Oil prices rise after drone attack on tanker owned by Israeli billionaire

Oil prices rise after drone attack on tanker owned by Israeli billionaire

🕔17:54, 16.Nov 2022

London, Nov 16 (IANS) Oil prices have risen after a tanker owned by an Israeli billionaire was hit by a drone carrying a bomb off the coast of Oman, media reports said on Wednesday. The attack on Pacific Zircon, which is

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Rosneft responds to BP’s comment on not being formally notified of dividend payments

Rosneft responds to BP’s comment on not being formally notified of dividend payments

🕔10:32, 3.Nov 2022

Moscow, Nov 3 (IANS) Rosneft has fulfilled its obligation to pay dividends for 2021 to all shareholders, including BP. Dividends due to BP in the amount of $700 million for the second half of 2021 were paid in full. In compliance

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Higher energy prices hastened India’s transition to biofuels, says Hardeep Puri

Higher energy prices hastened India’s transition to biofuels, says Hardeep Puri

🕔08:18, 1.Nov 2022

New Delhi, Nov 01 (IANS) India’s Petroleum Minister Hardeep Puri on Monday said that higher energy prices are leading to intended and unintended consequences. “While at one end it is leading to a global recession, at the same time it is

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Oil price may go up, says Emkay

Oil price may go up, says Emkay

🕔18:31, 18.Oct 2022

Chennai, Oct 18 (IANS) The reduction in oil production, high logistics cost for Russian oil, expected higher demand, and other factors are expected to push up the crude oil prices, said Emkay Wealth Management. According to the company, the crude oil

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Rupee trade paves the way to Russia

Rupee trade paves the way to Russia

🕔18:51, 4.Oct 2022

New Delhi, Oct 4 (IANS) The efforts of the Indian central bank to promote trade in rupees are bringing results, with state-run UCO Bank receiving necessary RBI approvals to open a special rupee vostro account in Russia’s Gazprombank. This will help

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Essar Oil UK signs offtake agreement with Vertex Hydrogen

Essar Oil UK signs offtake agreement with Vertex Hydrogen

🕔06:29, 29.Sep 2022

London, Sep 29 (IANS) Essar Oil UK Limited (Essar) has announced that it has signed a �Heads of Terms offtake agreement with Vertex Hydrogen (Vertex) for the supply of 280MW plus of hydrogen. The hydrogen will then be used to help

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India announces launch of ‘Innovation Roadmap of the Mission Integrated Biorefineries’

India announces launch of ‘Innovation Roadmap of the Mission Integrated Biorefineries’

🕔10:41, 24.Sep 2022

New Delhi, Sep 24 (IANS) Aiming at greater international collaboration and the need for increased financing for Energy Research, Development, and Demonstration (RD&D), the Centre on Friday announced the launch of the “Innovation Roadmap of the Mission Integrated Biorefineries” developed by

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Iran to soon import Russian gas daily: Ministry

Iran to soon import Russian gas daily: Ministry

🕔13:42, 20.Sep 2022

Tehran, Sep 20 (IANS) The Iranian Oil Ministry said the country will soon purchase 9 million cubic meters of gas per day from Russia through Azerbaijan. The Ministry announced the plan in a report on monday providing details of a $40

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India fared well on energy front despite global crises, says Petroleum Minister Hardeep Puri

India fared well on energy front despite global crises, says Petroleum Minister Hardeep Puri

🕔07:19, 16.Sep 2022

New Delhi, Sep 16 (IANS) Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday said that despite global crises, India has fared well on energy, food and fuel fronts. Addressing the 25th Energy Techonology Meet in Mumbai, he said that

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European Union proposes $140 bn windfall tax on energy companies

European Union proposes $140 bn windfall tax on energy companies

🕔09:38, 15.Sep 2022

London, Sep 15 (IANS) The European Union wants to raise $140 billion by tapping the windfall profits of some energy companies to help households and businesses pay eye-watering gas and electricity bills, media reports said. On Wednesday, the European Commission proposed

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Excise duties on petrol, diesel zoomed up despite crude staying below $80

Excise duties on petrol, diesel zoomed up despite crude staying below $80

🕔11:00, 11.Sep 2022

New Delhi, Sep 11 (IANS) Excise duty on petrol went up by a huge 194 per cent while on diesel it rose by a stupendous 512 per cent between 2014-15 and 2021-22 even as crude oil prices remained below $80 per

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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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Europe at risk of recession due to rising oil and gas prices

Europe at risk of recession due to rising oil and gas prices

🕔10:24, 5.Jul 2022

Europe faces a rising risk of recession because of rising oil and gas prices amid concerns that Russia could turn off supplies completely, economists have said, as per media reports. London, July 5 (IANS) Europe faces a rising risk of recession

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Concerns grow that India being used as potential ‘back door’ into Europe for Russian oil

Concerns grow that India being used as potential ‘back door’ into Europe for Russian oil

🕔06:09, 27.Jun 2022

London, June 27 (IANS) Concerns are growing that India is being used as a potential back door into Europe for Russian oil supplies, given the surge in imports, media reports said. The huge blue and red hull of the SCF Primorye

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India’s April fuel intake dips on rising crude prices, to reverse in May

India’s April fuel intake dips on rising crude prices, to reverse in May

🕔15:26, 18.May 2022

India’s sustained uptrend in oil consumption came to a halt and slipped into the red in April from March levels as rising domestic retail fuel prices on the back of surging crude took a toll on gasoline, diesel and LPG

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Asia’s appetite for US crude intact despite lucrative Russian offers: S&P Global Commodity Insights

Asia’s appetite for US crude intact despite lucrative Russian offers: S&P Global Commodity Insights

🕔17:32, 6.May 2022

Asia’s appetite for US crude oil posted a positive growth in the first quarter of 2022 despite lucrative Russian offers, according to S&P Global Commodity Insights. New Delhi, May 6 (IANS) Asia’s appetite for US crude oil posted a positive growth

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Oil price rises as UAE quashes hopes of plugging gap in Russian shortfall

Oil price rises as UAE quashes hopes of plugging gap in Russian shortfall

🕔07:01, 11.Mar 2022

New Delhi, March 11 (IANS) Oil prices rose on Thursday amid confusion over whether major producers would help to plug a gap in supplies from Russia, BBC reported. The United Arab Emirates had appeared to push the members of the Opec

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