Tuesday, Aug 09, 2022
Outlook.com

Govt Slaps Export Tax On Petrol, Diesel; Windfall Tax On Domestic Crude Oil

Govt Slaps Export Tax On Petrol, Diesel; Windfall Tax On Domestic Crude Oil

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

01 July 2022
Industry Welcomes Deregulation Of Locally Produced Oil

Industry Welcomes Deregulation Of Locally Produced Oil

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...

30 June 2022

Pakistan Open To Buying Cheap Oil From Russia If No Sanctions Imposed: Minister

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

China To Subsidise Refiners If Global Oil Prices Surpass $130

China To Subsidise Refiners If Global Oil Prices Surpass $130

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...

29 June 2022

Govt Gives ONCG, Vedanta Freedom To Sell Crude Oil

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...

Advertisement
13 June 2022
Crude Response: How Modi Govt Defied Western Powers To Safeguard India's Economic Interest

Crude Response: How Modi Govt Defied Western Powers To Safeguard India's Economic Interest

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...


27 May 2022
8 Billion Rubles Of Indian Oil Firms Stuck In Russia

8 Billion Rubles Of Indian Oil Firms Stuck In Russia

Indian state oil firms have invested USD 5.46 billion in buying stakes in four different assets in Russia


24 May 2022
Crude Oil Price At $110/Barrel Not Sustainable, Says Hardeep Singh Puri

Crude Oil Price At $110/Barrel Not Sustainable, Says Hardeep Singh Puri

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...


24 May 2022
India's Crude Oil Production Falls 1% In April

India's Crude Oil Production Falls 1% In April

India produced 2.47 million tonnes of crude oil in April, down from 2.5 million tonnes in the same month last year


04 May 2022
India's Oil Import From Russia Is Minuscule: Government

India's Oil Import From Russia Is Minuscule: Government

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...


Advertisement

24 April 2022
India's Oil Import Bill Doubles To $119 Billion In FY22 Amid Soaring Energy Prices

India's Oil Import Bill Doubles To $119 Billion In FY22 Amid Soaring Energy Prices

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.


03 April 2022
Petrol, Diesel Prices Hiked By 80 Paise; Check Fuel Rates Here

Petrol, Diesel Prices Hiked By 80 Paise; Check Fuel Rates Here

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


02 April 2022
India’s Oil Import From Russia Is Much Ado About Nothing

India’s Oil Import From Russia Is Much Ado About Nothing

Warding off pressure from the US government, finance minister Nirmala Sitharaman has categorically said that in national interest, India will continue to buy...


27 March 2022
Ukraine War Hits Europe's Climate Goals As It Seek Alternative To Russian Energy Supplies

Ukraine War Hits Europe's Climate Goals As It Seek Alternative To Russian Energy Supplies

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...


27 March 2022
Market Outlook: Stock Markets Likely To Face Volatility, Global Factors To Remain In Focus

Market Outlook: Stock Markets Likely To Face Volatility, Global Factors To Remain In Focus

According to market analysts, the scheduled monthly expiry of March month derivatives contracts would keep volatility high this week.


19 March 2022
 Iran Ready To Meet India's Energy Needs, Moots Relaunching Rupee-Rial Mechanism

 Iran Ready To Meet India's Energy Needs, Moots Relaunching Rupee-Rial Mechanism

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...


Advertisement

19 March 2022
India's Legitimate Energy Transactions Should Not Be Politicised: Report

India's Legitimate Energy Transactions Should Not Be Politicised: Report

India has to keep focussing on competitive energy sources and it welcomes offers from all oil producers as geopolitical developments have posed significant...


18 March 2022
India's Crude Oil Imports Surge In Feb Amid High Demand: Report

India's Crude Oil Imports Surge In Feb Amid High Demand: Report

Refiners are raising runs to cash in on high margins to offset some of the losses incurred for selling fuels in the local markets


17 March 2022
India's Oil Demand Likely To Jump 8% In 2022

India's Oil Demand Likely To Jump 8% In 2022

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.


17 March 2022
HPCL Buys 2 Million Barrel Of Russian Urals Crude: Report

HPCL Buys 2 Million Barrel Of Russian Urals Crude: Report

The development comes days after Indian Oil Corporation bought three million barrels of Russian crude oil. Meanwhile, the government of India is planning to...


16 March 2022
Oil Imports In India, Thailand To Be Hit Hardest Amongst APAC Amid Russia-Ukraine Crisis: S&P Global

Oil Imports In India, Thailand To Be Hit Hardest Amongst APAC Amid Russia-Ukraine Crisis: S&P Global

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...


16 March 2022
India Likely To Buy 'Discounted' Russian Oil Soon: Sources

India Likely To Buy 'Discounted' Russian Oil Soon: Sources

As a part of the deal, Russia will also take care of shipping and insurance for delivering the crude to India


14 March 2022
Exports Up 25.1% To $34.57 Billion; Trade Deficit Widens To $20.88 Billion In February

Exports Up 25.1% To $34.57 Billion; Trade Deficit Widens To $20.88 Billion In February

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.


14 March 2022
India Considers Buying Russian Oil, Commodities At Discounted Price: Report

India Considers Buying Russian Oil, Commodities At Discounted Price: Report

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...


13 March 2022
FPI Selling Continues For 6th Consecutive Month

FPI Selling Continues For 6th Consecutive Month

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...


Advertisement
Advertisement
Advertisement
Advertisement
Advertisement