The tax on exports follows oil refiners, particularly the private sector, reaping huge gains from exporting fuel to markets such as Europe and the US
The government on June 29 allowed firms like ONGC and Vedanta to sell locally produced crude oil to any Indian refinery for turning it into fuels such as...
Pakistan’s fuel imports are expected to hit a four-year high in June, touching 7,00,000 tonnes, up from 6,30,000 last month, according to data from Refinitiv
The move will safeguard the stable supply of fuels, alleviate the burden on downstream enterprises and consumers, and lower the operating costs of the real...
While contracts for oilfields awarded since 1999 gave producers the freedom to sell oil, the government fixed buyers for crude produced from older fields, such...
India -- the world's third-biggest oil importer - has taken advantage of deeply discounted prices to ramp up oil imports from Russia at a time when global...
Indian state oil firms have invested USD 5.46 billion in buying stakes in four different assets in Russia
International oil prices spiked this year, hitting a near 14-year high of USD 140 a barrel in March, after Russia's invasion of Ukraine exacerbated supply...
India produced 2.47 million tonnes of crude oil in April, down from 2.5 million tonnes in the same month last year
India, it said, has been constrained to pay ever-increasing prices charged by certain oil suppliers, which is leading India to diversify its sources of...
India spent $13.7 billion in March alone when oil prices surged to a 14-year high. This compared with $8.4 billion spending in the same month last year.
Petrol in Delhi will now cost Rs 103.41 per litre as against Rs 102.61 previously, while diesel rates have gone up from Rs 93.87 per litre to Rs 94.67
Warding off pressure from the US government, finance minister Nirmala Sitharaman has categorically said that in national interest, India will continue to buy...
In the near-term, ending energy ties with Russia puts the focus on securing alternative sources of fossil fuels. But longer term, the geopolitical and price...
According to market analysts, the scheduled monthly expiry of March month derivatives contracts would keep volatility high this week.
Iran used to be India's second largest oil supplier but New Delhi had to halt imports after the former US president Donald Trump withdrew from the nuclear deal...
India has to keep focussing on competitive energy sources and it welcomes offers from all oil producers as geopolitical developments have posed significant...
Refiners are raising runs to cash in on high margins to offset some of the losses incurred for selling fuels in the local markets
India's oil demand rose from 4.51 million barrels per day in 2020 to 4.76 million bpd in 2021, recording a 5.61 per cent growth.
The development comes days after Indian Oil Corporation bought three million barrels of Russian crude oil. Meanwhile, the government of India is planning to...
S&P estimates the Indian economy to grow 7.8 per cent in the next fiscal year beginning April 1, 2022. Besides, the economy is expected to grow 6 per cent and...
As a part of the deal, Russia will also take care of shipping and insurance for delivering the crude to India
Imports during the month too jumped 36 per cent to $55.45 billion, with inbound shipments of petroleum and crude oil surging 69 per cent to $15.28 billion.
As per the report, out of 80 per cent of India's oil imports, 2 to 3 per cent account from Russia currently. However, with soaring oil prices, India is...
FPIs pulled out Rs 41,168 crore from equities, Rs 4,431 crore from the debt segment and Rs 9 crore from hybrid instruments, taking the total net outflow...
