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Centre Scraps Windfall Profit Tax On Crude Oil, Petrol, Diesel Exports
The notification rescinded the June 2022 order and withdrew a levy of special additional excise duty (SAED) on the production of crude oil.
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Sri Lanka Partially Repays Iranian Oil Bebt With $20 Million Worth Of Tea
Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its $251 million oil debts, with Colombo saying Tehran's visiting foreign minister had expressed "satisfaction" at the deal.
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Russia Says Redirected Most Oil Exports From Europe To India, China
Russia has redirected its oil exports from Europe to China and India, Deputy Prime Minister Alexander Novak said Wednesday, almost two years after Moscow was hit by Western sanctions over the Ukraine conflict.
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Putin, Saudi Prince Urge OPEC+ Powers To Join Oil Cuts For Economy
Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy just days after a fractious meeting of the producers' club.
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Iran's Khamenei Asks Muslim Countries To Cease Oil, Food Exports To Israel
Iran's Supreme Leader Ayatollah Ali Khamenei called on Muslim states to cease oil and food exports to Israel, demanding an end to its bombardment of the Gaza Strip, state media reported.
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India, Indonesia Risk Biggest Fallout From Geopolitical Shocks
A triumvirate of high oil prices, a surging dollar and geopolitical instability are set to weigh on India and Indonesia among Asia's emerging markets, while energy exporter Malaysia may prove a rare beneficiary.
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Oil Nears $90 For First Time In 2023, Fuel Price Unlikely To Change In India
Oil prices hit a 10-month high of nearly USD 90 per barrel as Saudi Arabia and Russia extended their voluntary production and export cuts until the end of the year.
-
Roberto Mancini Eyes Asian Cup As He Seals Lucrative Saudi Move
Roberto Mancini is the latest high-profile acquisition for the world's top oil exporter which has snapped up some of football's biggest players in a spree costing hundreds of millions of dollars.
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Russia Says It Blocked Overnight Ukraine Attacks On Black Sea Naval Base
Russia's defence ministry said that it had thwarted overnight Ukrainian attacks on a naval base in the Black Sea and the Crimean peninsula. Novorossiysk Sea Port hosts the terminus of a pipeline that carries most Kazakh oil exports through Russia.
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India, China Bought 80% Of Russia's Oil In May: International Energy Body
India and China, the world's top oil users, continued to lap up heavily discounted Russian crude oil, buying as much as 80 per cent of the oil that Moscow exported in May, the International Energy Agency (IEA) said in a report.
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Explained: Why Is OPEC Cutting Crude Oil Output
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
-
Saudi Arabia Announces Fresh Output Cut To Boost Oil Price
Riyadh on Sunday announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.
-
Government Cuts Windfall Gains Tax On Domestic Crude Oil To Nil
The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at zero on the export of diesel and ATF.
-
Fuels From Russian Oil Gets Backdoor Entry Into Europe Via India: Report
Record high imports of crude oil from Russia in fiscal 2022-23 helped India's refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa showed.
-
India Planning To Extend Restrictions On Fuel Export: Report
India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources said.
-
Centre Scraps Windfall Profit Tax On Crude Oil, Petrol, Diesel Exports
The notification rescinded the June 2022 order and withdrew a levy of special additional excise duty (SAED) on the production of crude oil.
-
Sri Lanka Partially Repays Iranian Oil Bebt With $20 Million Worth Of Tea
Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its $251 million oil debts, with Colombo saying Tehran's visiting foreign minister had expressed "satisfaction" at the deal.
-
Russia Says Redirected Most Oil Exports From Europe To India, China
Russia has redirected its oil exports from Europe to China and India, Deputy Prime Minister Alexander Novak said Wednesday, almost two years after Moscow was hit by Western sanctions over the Ukraine conflict.
-
Putin, Saudi Prince Urge OPEC+ Powers To Join Oil Cuts For Economy
Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy just days after a fractious meeting of the producers' club.
-
Iran's Khamenei Asks Muslim Countries To Cease Oil, Food Exports To Israel
Iran's Supreme Leader Ayatollah Ali Khamenei called on Muslim states to cease oil and food exports to Israel, demanding an end to its bombardment of the Gaza Strip, state media reported.
-
India, Indonesia Risk Biggest Fallout From Geopolitical Shocks
A triumvirate of high oil prices, a surging dollar and geopolitical instability are set to weigh on India and Indonesia among Asia's emerging markets, while energy exporter Malaysia may prove a rare beneficiary.
-
Oil Nears $90 For First Time In 2023, Fuel Price Unlikely To Change In India
Oil prices hit a 10-month high of nearly USD 90 per barrel as Saudi Arabia and Russia extended their voluntary production and export cuts until the end of the year.
-
Roberto Mancini Eyes Asian Cup As He Seals Lucrative Saudi Move
Roberto Mancini is the latest high-profile acquisition for the world's top oil exporter which has snapped up some of football's biggest players in a spree costing hundreds of millions of dollars.
-
Russia Says It Blocked Overnight Ukraine Attacks On Black Sea Naval Base
Russia's defence ministry said that it had thwarted overnight Ukrainian attacks on a naval base in the Black Sea and the Crimean peninsula. Novorossiysk Sea Port hosts the terminus of a pipeline that carries most Kazakh oil exports through Russia.
-
India, China Bought 80% Of Russia's Oil In May: International Energy Body
India and China, the world's top oil users, continued to lap up heavily discounted Russian crude oil, buying as much as 80 per cent of the oil that Moscow exported in May, the International Energy Agency (IEA) said in a report.
-
Explained: Why Is OPEC Cutting Crude Oil Output
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
-
Saudi Arabia Announces Fresh Output Cut To Boost Oil Price
Riyadh on Sunday announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.
-
Government Cuts Windfall Gains Tax On Domestic Crude Oil To Nil
The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at zero on the export of diesel and ATF.
-
Fuels From Russian Oil Gets Backdoor Entry Into Europe Via India: Report
Record high imports of crude oil from Russia in fiscal 2022-23 helped India's refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa showed.
-
India Planning To Extend Restrictions On Fuel Export: Report
India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources said.
