Crude Oil Prices Gain on Unexpected Draw in US Inventories
Oil prices rose in Asian trading on Wednesday, recovering some recent losses after industry data indicated an unexpected draw in US inventories while concerns over...
Tag : Crude Oil
India Increases Oil Imports from Iraq and Saudi on Growing Domestic Demand
India increases crude oil imports from its conventional suppliers, including Saudi Arabia and Iran on India’s growing oil demand in September. India’s crude oil imports...
Deflation in China Can Result in Unexpected Gains for IndiaÂ
China is facing one of the longest deflation streaks since 1993, affecting everything around, including oil prices. According to one of the world’s biggest oil...
India Surpasses China as Russia’s Top Oil Buyer in July
In July, India surpassed China as the largest importer of Russian oil as the Chinese refiners reduced purchases due to lower profit margins from fuel...
Reliance Industries Secures US Approval to Resume Crude Import from Venezuela
Reliance Industries Ltd on 24 July announced receiving approval from the US to resume importing oil from Venezuela despite White House sanctions on the country. ...
Government Reimposes Windfall Tax on Crude Oil; Levy on Diesel, Petrol and ATF nil
To rationalise the petroleum sector’s tax structure, the government has reimposed a windfall tax on domestically produced crude oil of Rs 6,400 per tonne. Petrol...
Govt Scraps Windfall Tax on Crude Production, Slashes Diesel Cuts
According to a government notice, the government has cut the windfall tax on crude oil production to zero from Rs 3,500 ($42.56) a tonne starting...
Centre Cuts Windfall Tax on Crude Oil to Rs 4,350
On Thursday, the Centre amended the windfall profit tax on nationally twisted crude oil from Rs 5,050 per ton to Rs 4,350 per ton. The...
BPCL Signs MoU with Brazil’s Petrobras to Diversify Crude Oil Sourcing
On Saturday, state-owned Bharat Petroleum Corporation Ltd (BPCL) reported that it had signed a pact with Brazil’s national oil company Petrobras for sourcing crude oil...
Crude Oil Falls 3% on Demand Concerns, Strong Dollar
On Thursday, brent crude oil slipped 3% as expectations of weaker demand and a strong US dollar ahead of a potentially large interest rate gain...
