Windfall tax on petroleum crude hiked 84% to ₹6,000 per MT
Of the stocks included in the Nifty Oil & Gas index,13 are on the rise today, with Adani Total Gas and Oil India up 4.10% and 2.52%, respectively.
Of the stocks included in the Nifty Oil & Gas index,13 are on the rise today, with Adani Total Gas and Oil India up 4.10% and 2.52%, respectively.
Country-wise crude oil import data shows Russia gaining the biggest share of the crude pie in FY23
CPI declined to 6.77% in October from 7.41% in September when Russia topped the chart of India's oil suppliers.
OPEC Plus – a grouping of 23 oil-rich countries -- is meeting in Vienna on Wednesday to discuss a major production cut for the first time since March 2020.
India has maintained its exports in July despite anti inflationary measures and continued disruptions in supply chains due to Covid and Russia-Ukraine conflict.
The government warned that many countries in the immediate neighbourhood are facing severe fuel shortages and chaos due to high fuel inflation.
The big question is how much more foreign exchange will the Reserve Bank of India buy, and why?
The government has devised a three-pronged strategy to bring down its crude oil import bill and achieve energy security.
A study by the institute says the number of natural gas vehicles in India is expected to shoot up to 33 million by 2030 from 3.3 million in 2019—a 900% rise.
Iran was India’s big bet towards energy security and safe haven from crude oil price shocks. With the U.S. insisting on zero imports from Iran, the government is left with an unwelcome conundrum.