New Delhi, Dec 13 (IANS) Addressing an event organised by the Society of Indian Automobile Manufacturers (SIAM), Union Road, Transport and Highways Minister Nitin Gadkari has said that the country needs to promote vehicles running on more than one fuel (flex-fuel
London, Dec 5 (IANS) Oil prices rose on Monday following an agreement by the G7 group of nations and its allies to cap the price of Russian oil at $60 a barrel, BBC reported. Brent crude added around 1 per
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
New Delhi, Oct 19 (IANS) Vessel tracking data suggest that the demand for Russian crude oil seems to be picking up, especially among India, China, and Turkey, according to media reports. The three countries have been Russia’s most reliable buyers of
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
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
London, Sep 5 (IANS) Financial markets are being rocked by the shutdown of Russias Nord Stream 1 pipeline, as the energy squeeze on European economies intensifies as winter approaches. The euro fell to a two-decade low during early trading on Monday
The US on Sunday announced new sanctions on Russia, targeting management consultancies and accounting services and media outlets funded directly or indirectly by the state. Also, among the new curbs, were export controls on equipment and machinery such as bulldozers.
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
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
The most serious effect of the Russia-Ukraine war for the world economy will be higher commodity prices. Oil prices will remain above $100/barrel for as long as the conflict rages on, EIU said in its global outlook report. New Delhi,
London, April 13 (IANS) The US inflation rate hit a 40-year high in the year to March after fuel prices soared during the first full month of the Ukraine war, BBC reported. Consumer prices surged by 8.5 per cent — the
New Delhi, March 17 (IANS) Moody’s Investors Service on Thursday revised its India’s GDP forecast down to 9.1 per cent from 9.5 per cent for 2022. As per Global Macro Outlook 2022-23 (March 2022 updated), India is particularly vulnerable to high
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
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
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
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
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,
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 —
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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