New Delhi: The Centre on Tuesday increased the windfall tax on petroleum crude from Rs 9,050/ton to Rs 9,800/ton, effective from November 1, a government notification said.
Oil prices surged by more than 1% on Tuesday, reaching the highest levels in 10 months, Reuters reported.
Maritime services company Lloyd's Register has informed Gatik Ship Management, a major carrier of Russian oil following the Ukraine war, that it will revoke certification for 21 of its vessels by June 3, according to a statement by the company to Reuters.
Russia supplied 1.64 million barrel per day (bpd) of crude oil to India, surpassing traditional suppliers such as Saudi Arabia and Iraq, Moneycontrol reported.
New Delhi/IBNS: India's crude oil shipments from Russia in February reached an unprecedented 1.6 million barrels per day, surpassing the combined imports from traditional suppliers Iraq and Saudi Arabia.
New Delhi: India’s imports from Russia multiplied nearly five times to $ 37.31 billion in the April-January period in FY23 owing to an increase in crude oil import from that country, according to the commerce ministry data.
New Delhi/IBNS: India’s crude oil import grew by 52.58 percent to $146.57 billion during April-November during FY23, according to data shared by the Ministry of Commerce.
New Delhi: Russia for the first time in November replaced Iraq as the top exporter of crude oil to India, media reports said.
India has said it would examine the proposal by the United States and the European Union (EU) to put a price cap on Russian oil, Reuters reported.
New Delhi: Russia and Saudi Arabia could be soon locked in a battle over securing a bigger share of India's crude import market, with Moscow offering a cheaper alternative to one of the world's biggest importers.
New Delhi: The Centre is trying to find out "all viable options" to buy crude oil at affordable rates, the finance ministry said on Thursday.
New Delhi: India does not plan to buy oil from Russia or any other country with Indian rupees, Minister of State Ministry of Petroleum and Natural Gas Rameswar Teli told parliament on Monday, amid scores of sanctions imposed by Western nations on Russia over its invasion of Ukraine, media reports said.
India's crude oil imports in February increased to 4.86 million barrels per day (bpd), its highest since December 2020.
Mukesh Ambani-led Reliance Industries is sending shipments of diesel to Europe amid a global energy crunch spurred by Russia’s invasion of Ukraine, media reports said.
Oil prices levels since 2008 on Monday amid fears of market supply disruptions as the United States and European allies are considering a ban on Russian oil imports and hopes of the return of Iranian crude diminished, media reports said.