State-owned oil companies are not into exports and that gives an advantage to Reliance -- the largest importer of Russian crude and also the largest exporter of diesel from the country -- and Russia's Rosneft-owned Nayara
The oil refiners in India will now pay Rs 6 per litre on the export of petrol and aviation turbine fuel (ATF) as well as Rs 13 on the export of diesel
Rajani Kesari has been appointed chief financial officer at Rosneft-backed Nayara Energy.
In 2008, Reliance Industries had shut all of its 1,432 petrol pumps in the country after sales dropped to almost nil as it could not match the subsidized price offered by the public sector competition.
The government on July 1 levied Rs 13 per litre additional excise duty on diesel exported out of India. A Rs 6 a litre tax was also imposed on petrol and ATF exported out of India