Tag: crude oil

A technician opens a pressure gas valve inside the Oil and Natural Gas Corp (ONGC) group gathering station on the outskirts of the western Indian city of Ahmedabad (REUTERS FILE PHOTO)
Posted in Business

Govt scraps windfall tax on domestic crude, petrol and diesel exports

Dec 02, 2024 08:36 PM IST On Monday, the revenue department rescinded the June 30, 2022 notification that levied windfall tax due to decline in…

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Windfall tax is a special tax on domestic crude oil production which aims to capture revenue from the windfall gains of oil producers(Representational Image/Pixabay)
Posted in Business

Government scraps windfall tax on petrol, diesel, and aviation fuel exports

The government has scrapped windfall tax on Aviation Turbine Fuel (ATF), crude products, petrol and diesel products on Monday, December 2, 2024, after months of…

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Nirmala Sitharaman & Co said to be evaluating windfall tax
Posted in Economy

Nirmala Sitharaman & Co said to be evaluating windfall tax

India’s finance ministry was evaluating the relevance of windfall tax, a federal government source said on Thursday. The federal finance ministry will evaluate scrapping windfall…

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crude oil: India's Russian oil imports rise 11.7% in September, data shows
Posted in Economy

crude oil: India’s Russian oil imports rise 11.7% in September, data shows

India’s crude oil imports from Russia rose by 11.7% to about 1.9 million barrels per day (bpd) in September, accounting for about two-fifths of the…

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Windfall tax: Government scraps windfall tax on crude oil
Posted in Economy

Windfall tax: Government scraps windfall tax on crude oil

The government of India on Tuesday announced the scrapping of windfall tax on crude oil from Rs 1,850 per tonne. This will be effective from…

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Posted in Economy

Crude, natural gas drag July core growth to 6.1%

India’s core sector, comprising eight major industries, grew 6.1% in July, higher than 5.2% in the previous month, official data showed Friday. The core sector…

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Iranian Oil: Abundant, cheap Iranian oil supply to cap Russian prices in China - sources
Posted in China News

Iranian Oil: Abundant, cheap Iranian oil supply to cap Russian prices in China – sources

SINGAPORE: Rising prices of a popular Russian crude sold to China are poised to peak soon as more independent refiners are likely to switch to…

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ONGC (File photo)
Posted in Business

ONGC’s Q1 net profit falls 34% on lower oil prices and output

The net profit of Oil and Natural Gas Corporation (ONGC) fell over 34 per cent in June quarter on decline in oil prices and lower…

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An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia.(REUTERS)
Posted in Business

Saudi Arabia’s Aramco Q2 profit drops 40% due to lower oil prices

Saudi Arabia’s state-run oil giant Aramco made $30 billion in profit in the second quarter, a nearly 40% decline from the same period the previous…

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First shipment of discounted Russian crude oil arrives in Karachi: Pak PM Shehbaz Sharif
Posted in Pakistan News

First shipment of discounted Russian crude oil arrives in Karachi: Pak PM Shehbaz Sharif

ISLAMABAD: The first shipment of discounted Russian crude oil has arrived at the port city of Karachi, Pakistan Prime Minister Shehbaz Sharif announced on Sunday,…

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