Six product categories - petroleum, crude oil; coal, coke; diamond, precious metals; chemicals, pharma, rubber, plastics; electronics; and machinery - account for 82 per cent of India's total merchandise imports
According to Vortexa, Russia now accounts for more than the combined oil bought from Iraq and Saudi Arabia -- India's mainstay oil suppliers for decades
_1642514641.jpg "Asian Shares, Oil Advance On Strong China Factory Data")
Reports on the economy released Tuesday showed some slight cracks. One said that confidence among US consumers fell in February. Another said that manufacturing in the Chicago region weakened by more than expected
Windfall Tax: The reduction in this amount on domestically produced crude oil also comes in the backdrop of a reduction in global crude oil prices
From less than 1% share of India's import basket before the Ukraine War in February 2022, Russia's share of India's imports rose to around 35% in February.
The G7 finance ministers and Central Bank governors deliberated on Ukraine's overall economic condition at a meeting on Thursday, on the eve of the first anniversary of the Russian aggression.
Profits rose 46.5 per cent when compared to the company's 2021 results of $110 billion
Windfall Profit Tax: The levy on crude oil produced by companies like the Oil and Natural Gas Corporation (ONGC) has been reduced to Rs 4,350 per tonne from the current Rs 5,050 per tonne
ONGC, which contributes around 71 per cent to India's domestic production, has reported a gradual decline in output for over a decade now primarily because its...
India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies
Revenue from operations was up 41 per cent at Rs 19,214.2 crore
Softening of international prices from multi-year peak hit last year had led to companies making profit on petrol but they continue to incur losses on diesel
The friendly countries were not named but likely include China which has close ties with both Pakistan and Russia.
Russia, which made up for just 0.2 per cent of all crude oil India imported in the year to March 31, 2022, supplied 1.19 million bpd in December
The mechanical works of the bilateral project, being funded by India, was completed on December 12 last year, a senior official of NRL told PTI on condition of...
Windfall Profit Tax: The hike comes at a time when the government, in its previous notification, slashed the windfall tax to Rs 1,700 per tonne on domestically...
Due to the sharp decline in crude oil prices on the international market, workers and Congress leaders agitated here for lower prices on petroleum products.
Windfall Profit Tax: The windfall tax on crude oil produced by firms such as the state-owned ONGC has been reduced to Rs 1,700/tonne from the previous Rs...
The offer came as Russian Deputy Prime Minister Alexander Novak held a meeting with the Indian Ambassador to Moscow, Pavan Kapoor, on Friday.
The Indian government has been vehemently defending its trade with Russia, saying it has to source oil from where it is the cheapest. External Affairs Minister...
President Irfan Ali said the bidding period will run from Friday to May of next year to give companies time to study the blocks.
The price cap of $60 per barrel will come into effect with an EU embargo on Russian crude oil from Monday
EU nations sought to push the cap across the finish line after Poland held out to get as low a figure as possible, diplomats said Thursday.
On the Multi Commodity Exchange, crude oil for December delivery fell by Rs 216 or 3.42 per cent to Rs 6,095 per barrel in a business volume of 20,334 lots.
Although refining crude oil remains rooted in the production of fuels, by branching out into petrochemicals, forward-looking refiners are unlocking new value...
