Monday, Aug 08, 2022
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OPEC Secretary-General Is Dead, Nigerian Officials Announce

OPEC Secretary-General Is Dead, Nigerian Officials Announce

Mohammad Barkindo, 63, died late Tuesday, a spokesperson for Nigeria's petroleum ministry told The Associated Press. The reason for his death was not immediately known

06 July 2022
Government To Review Oil Export, Windfall Tax Based On Forex Rate, Oil Prices Every Fortnight

Government To Review Oil Export, Windfall Tax Based On Forex Rate, Oil Prices Every Fortnight

The government on July 1 imposed a Rs 6 per litre tax on the export of petrol and ATF and a Rs 13 per litre tax on the export of diesel

04 July 2022

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

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

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...

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29 June 2022
Govt Gives ONCG, Vedanta Freedom To Sell Crude Oil

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...


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...


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


16 May 2022
Petrol Sales Up 14%, Diesel Sales Surge 1.8% In May

Petrol Sales Up 14%, Diesel Sales Surge 1.8% In May

April saw consumption drop due to a Rs 10 per litre hike in petrol and diesel prices after an over four-month hiatus.


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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.


18 April 2022
Wholesale Inflation Surges To Record High Of 14.5% In March

Wholesale Inflation Surges To Record High Of 14.5% In March

Inflation last month was 13.11 per cent, while wholesale inflation in March last year stood at 7.39 per cent.


16 April 2022
Aviation Fuel Prices Hiked Marginally, Rates At Record High

Aviation Fuel Prices Hiked Marginally, Rates At Record High

The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- was hiked by Rs 277.5 per kilolitre, or 0.2 per cent, to Rs 1,13,202.33 per...


01 April 2022
India To Continue Oil Purchases From Russia: Sitharaman

India To Continue Oil Purchases From Russia: Sitharaman

India has already started buying oil from Russia, Sitharaman said, adding that the transition to gas was challenging as supplies had reduced


01 April 2022
Biden Orders Releasing 1 Mn Barrels Of Oil A Day For 6 Months From US Reserves To Control Prices

Biden Orders Releasing 1 Mn Barrels Of Oil A Day For 6 Months From US Reserves To Control Prices

Following surge in oil prices because of Russian invasion of Ukraine, US has been in touch with several countries, including India, on the release of strategic...


30 March 2022
Petrol, Diesel Prices Hiked By 80 Paise; Total Increase Now Stands At Rs 5.60

Petrol, Diesel Prices Hiked By 80 Paise; Total Increase Now Stands At Rs 5.60

Petrol in Delhi will now cost Rs 101.01 per litre as against Rs 100.21 previously while diesel rates have gone up from Rs 91.47 per litre to Rs 92.27.


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29 March 2022
Record Fuel Price Hike Due To Spike In Oil Prices: Nirmala Sitharaman

Record Fuel Price Hike Due To Spike In Oil Prices: Nirmala Sitharaman

Petrol and diesel prices have been hiked by Rs 4.80 per litre since March 22 -- a record increase in any eight days since the daily price revision was...


29 March 2022
Petrol Crosses Rs 100-Mark, Diesel Up 70 Paise; Seventh Hike This Month

Petrol Crosses Rs 100-Mark, Diesel Up 70 Paise; Seventh Hike This Month

Petrol in Delhi will now cost Rs 100.21 per litre as against Rs 99.41 previously while diesel rates have gone up from Rs 90.77 per litre to Rs 91.47.


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.


25 March 2022
BMW India To Hike Vehicle Prices By Up To 3.5% From April

BMW India To Hike Vehicle Prices By Up To 3.5% From April

The price increase will be brought into effect to adjust the material and logistics costs, impact of current geo-political situation and exchange rates


19 March 2022
How Modi Govt Is Using Russian Oil Imports To Silence Opposition

How Modi Govt Is Using Russian Oil Imports To Silence Opposition

It's over a week that the assembly elections are over but there has not been any major fuel price hike announced in the country so far.


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...


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


18 March 2022
India’s Willingness To Buy Crude Oil From Russia Shouldn’t Be Politicised: Sources

India’s Willingness To Buy Crude Oil From Russia Shouldn’t Be Politicised: Sources

Russia has offered discounted crude oil in the wake of the Western sanctions on it following its military aggression against Ukraine.


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