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India's exports to Kuwait surged by 34.78% Y-o-Y to USD 2.1 bn

India's trade with Kuwait has surged remarkably, with Indian exports to the Gulf nation reaching an…

ANI   


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India slashes windfall tax on crude petroleum

The central government has reduced windfall tax on crude petroleum, according to a government notif…

ANI   


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4 mins read

Headroom to cut petrol and diesel prices by ₹2-3 per litre: Icra

A reduction in crude oil prices in recent weeks has improved margins on retail auto fuels, providin…

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Decreased oil exports, because of lower crude prices increasing India's trade deficit, says CRISIL

India's oil exports have been impacted by the fall in crude oil prices, leading to a contraction in…

ANI   


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Govt hikes windfall tax on crude petroleum, cuts levy on diesel

The government has hiked windfall tax on domestically produced crude oil to Rs 4,600 per tonne from…

PTI   


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Warren Buffett's $13 billion bet on Occidental Petroleum turns sour as oil prices hit a 3-year low

The $55 to $60 level has acted as a floor for Occidental Petroleum stock since Buffett started buyi…

Matthew Fox   


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India's oil, gas exploration offers USD 100 billion opportunity: Oil Minister Hardeep Singh Puri

Oil Minister Hardeep Singh Puri on Thursday called for stepping up oil and gas hunt to cut India's …

PTI   


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Govt cuts windfall tax on domestic crude, export of diesel, ATF

The government on Tuesday cut special additional excise duty (SAED) on crude petroleum to Rs 9,050/…

PTI   


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BPCL shares rally 5% after earnings announcement

On the NSE, it climbed 5 per cent to Rs 621.95. BPCL on Thursday reported a 30 per cent fa…

PTI   


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India's oil import bill could swell to $101-104 billion in FY25: ICRA

As per ICRA's calculations, a $10/barrel uptick in the average crude oil price for this fis…

PTI   


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BPCL swings to profit of ₹10,644 cr in Q1 aided by freeze on retail selling prices

The consolidated net profit of ₹ 10,644.30 crore in April-June (first quarter of current 2023-24 fi…

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2 mins read

RBI sees price of India's crude oil imports at $85 a barrel in FY25

The RBI expects the price of the Indian basket of crude oil imports to be around $85 per barrel goi…

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1 min read

OPEC Plus will continue oil output cuts as prices remain unchanged

OPEC described the move as aiming to "achieve and sustain a stable oil market, and to provide long-…

ANI   


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India's petroleum products demand to increase mid-single-digit percentage in 2023-24: Fitch

India's demand for petroleum products is likely to increase by a mid-single-digit percentage in the…

ANI   


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3 mins read

Crude oil market at the crossroads — S&P Global Commodity insights unveils in-depth 2024 energy outlook

According to S&P Global, against the backdrop of a turbulent global stage, characterized by economi…

ANI   


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OPEC+ output witnesses biggest drop in six months, falling short of agreed cuts

In January, OPEC+ crude output witnessed a decline of 340,000 b/d, attributed partly to voluntary c…

ANI   


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Russia will reportedly ban gasoline exports for 6 months to offset 'excessive' demand for crude products

The ban is meant to address rising domestic demand, and comes ahead of the March presidential elect…

Yuheng Zhan   


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4 mins read

India Inc might see margin squeeze with a crude shock at hand

Since the start of September, Brent crude has risen from $85 per barrel to $92 a barrel approximate…

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IOC Q2 net profit jumps to Rs 12,967 cr; half yr profit tops best-ever full-year earning

State-owned Indian Oil Corporation (IOC) on Tuesday reported a return to profitability with a net p…

PTI   


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Govt hikes windfall profit tax on crude oil, cuts levy on diesel exports

The government on Tuesday increased the windfall profit tax on crude oil produced in the country an…

PTI