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News
Crude Oil
Crude Oil News
India import bill
02 May 2024
Govt's Firm Stand On Buying Russian Oil Saves $8 Bn In India's Import Bill
Prime Minister Narendra Modi-led government has stood firm in maintaining its ties with Russia despite the Western sanctions against Moscow.
Windfall Tax
01 May 2024
Govt Cuts Windfall Tax On Crude Oil, ONGC, OIL India Ltd To Gain
Upstream oil exploration and production companies ONGC and Oil India Ltd stand to gain as they will have to pay a lower tax on their crude.
Crude Oil
19 Apr 2024
Global Oil Prices Rise Amid Increasing Middle East Conflict
India imports over 85 per cent of its crude oil requirement and a substantial spike in global oil prices could raise the country’s oil import bill.
ONGC
09 Jan 2024
With First Oil Discovery, India's Close To Atmanirbhar Bharat In Energy Sector
The discovery of oil in ONGC's Krishna Godavari basin concurs with dreams of India's mission for an 'Aatmanirbhar Bharat'.
Crude Oil
23 Nov 2023
Oil Marketing Stocks In Limelight On Account Of Fall In Crude Price
Sugar stocks too witnessed fresh buying due to improved domestic demand.
petrol prices
06 Sep 2023
BIG UPDATE On Petrol, Diesel Price; Govt May Cut Fuel Prices By Rs 3-5 A Litre
Last week, the government cut the price of the domestic 14.2kg LPG cylinder by Rs 200/LPG cylinder for all 330 million consumers w.e.f. August 30.
India-UAE relations
15 Aug 2023
'Historic': India Makes First Crude Oil Payment To UAE In Rupees
A Local Currency Settlement (LCS) system was established as a result of a Memorandum of Understanding (MoU) exchanged during PM Narendra Modi's visit to the UAE last month.
Trade Deficit
15 Jun 2023
India's Export, Import Fell In May, Trade Deficit Rises To 5-Month High
As a result, the trade deficit rose to a five-month high of $22.1 billion. India has been consistently witnessing a trade deficit for many years now.
Windfall Tax
21 Mar 2023
Windfall Tax On Diesel Export Hiked To Re 1 Per Litre
The government raised the tax on the export of diesel to Re 1 per litre from Rs 0.50.
Crude Oil
13 Mar 2023
Iran says oil exports reach highest level since US reimposed sanction in 2018
The Iranian oil Minister claimed that the country`s gas exports have witnessed a year-on-year rise of 15 per cent in the current Iranian calendar year, noting that Iran has raked in $6.5 billion from its liquefied petroleum gas exports since March 2022.
GST
16 Feb 2023
Petroleum products can be brought under GST once states agree: FM
The 49th meeting of the GST Council is scheduled to be held here in the national capital on February 18, to be chaired by finance minister Sitharaman.
Indian Rupee
30 Dec 2022
Rupee ends as worst-performing Asian currency in 2022: Report
Indian rupee ended 2022 as worst-performing currency with a fall of 10.14%. It had seen the biggest annual decline since 2013. The rupee was also a victim of a rally in oil prices sparked by Russia-Ukraine conflict.
India
16 Dec 2022
Non-fossil sources to meet 62 % of India's total energy demand by 2030
India is expected to source about 62 per cent of its energy requirements from non-fossil sources by 2030. India is already sourcing about 42 per cent of its energy requirements from non-fossils sectors. India has a very robust power grid running from North to South and East to West of the country.
India
11 Dec 2022
Russia welcomes India's decision to not support G7's price cap on Russian oil
Russia welcomes India's decision to not support the price cap on Russian oil. Earlier, West put a cap on Russian oil to $60 per barrel. India's Ministry of External Affairs has defended the decision of purchasing Russian oil.
Russia
04 Dec 2022
Russia rejects West-imposed oil price cap; says to respond soon
Russia "will not accept" a price cap on its oil by Western countries and is analysing how to respond. Russia has repeatedly said it will not supply oil to countries that implement the cap. Russia's embassy in the United States criticised what it called the "dangerous" Western move and said Moscow would continue to find buyers for its oil.
Pakistan
02 Dec 2022
Baat Pate Ki: Russia rejects Pak's demand to provide subsidized oil
Russia simply refused to give discounted crude oil to Pakistan. A delegation of Pakistani officials had sought 30 to 40 per cent discount on crude oil in talks with Russian officials. But, on the very next day of this conversation, Russia flatly refused to give any kind of discount to Pakistan in crude oil.
Pakistan
02 Dec 2022
Deshhit: Moscow refuses to give Pakistan discounted Russian crude oil!
Russia has bluntly told Pakistan that it will not give it cheap crude oil like India. For the second time in two months, a delegation of the Government of Pakistan went to Moscow. There it appealed to the Vladimir Putin government to supply oil to Pakistan at a 40% discount.
russia oil supply to india
07 Nov 2022
Baat Pate Ki: India increases oil imports from Russia
Angered by the ongoing war between Russia and Ukraine, many countries of Europe banned the purchase of oil from Russia. After which Russia increased the supply to other countries, including India.
Petrol- Diesel Price Today
31 Oct 2022
Petrol, Diesel Price on October 31: Check latest fuel rates in your city today
Brent crude futures dropped 0.4 per cent to $95.41 per barrel. WTI crude was at $87.67 a barrel, down 0.3 per cent. Petrol costs Rs 96.72 today in Delhi.
petrol price
04 Oct 2022
Petrol-Diesel Price today, October 4, 2022: Check today's petrol & diesel rate
Oil Marketing Companies(OMCs) like Indian Oil, Bharat Petroleum, and Hindustan Petroleum update petrol and diesel price in different cities every morning based on foreign exchange rates and international benchmark prices. However, the price of petrol and diesel has remained unchanged for a long time.
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