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  • Windfall tax to help recoup most of Rs 1 lakh crore revenue lost in excise cut Jul 03, 2022 12:01 PM IST

    Windfall tax to help recoup most of Rs 1 lakh crore revenue lost in excise cut

    India on July 1 joined a select league of nations globally that have taxed windfall gains accruing to oil companies from soaring energy prices.

  • India allows local oil producers to sell to private companies Jun 29, 2022 05:09 PM IST

    India allows local oil producers to sell to private companies

    The decision would be effective from Oct. 1, and existing conditions to sell crude oil to the government-run companies would be waived, the government said in a statement, adding that exports will not be permitted.

  • India deregulates sale of domestically produced crude oil Jun 29, 2022 03:27 PM IST

    India deregulates sale of domestically produced crude oil

    The move will lead to pricing and marketing freedom in the sector and boost production, Anurag Singh Thakur told reporters in New Delhi.

  • Watch: Is crude headed higher as G7 countries introduce price cap on Russian oil? Jun 28, 2022 12:36 PM IST

    Watch: Is crude headed higher as G7 countries introduce price cap on Russian oil?

    Will crude prices rise further as G7 countries introduce a price cap on Russian oil? Join Karunya Rao and Manisha Gupta at one to find out.

  • Indian market can tank another 1,000 points if US enters deep recession, says Credit Suisse's Jitendra Gohil Jun 27, 2022 05:31 PM IST

    Indian market can tank another 1,000 points if US enters deep recession, says Credit Suisse's Jitendra Gohil

    A steep market correction is also likely if the crude shoots to the unprecedented level of $140 or $150 a barrel, he said

  • G-7 negotiators put Russia oil price cap on agenda for leaders Jun 26, 2022 09:19 AM IST

    G-7 negotiators put Russia oil price cap on agenda for leaders

    G-7 states are eager to find a way to limit the Kremlin’s energy revenue while mitigating the impact on their own economies from steps to quickly curb their reliance on oil and gas from Russia

  • India's Russian oil imports jump 50 times; now accounts for 10% of all import: Official Jun 23, 2022 08:26 PM IST

    India's Russian oil imports jump 50 times; now accounts for 10% of all import: Official

    According to a senior government official on Thursday, India's imports of crude oil from Russia have increased more than 50 times since April and now account for 10% of all petroleum purchased internationally.

  • Crude oil inventory clocks biggest weekly rise in five months Jun 23, 2022 09:34 AM IST

    Crude oil inventory clocks biggest weekly rise in five months

    According to API data, this is the first build of over 5 million barrels since mid-February, reported Oil Price.

  • Rupee continues to tumble, BofA now sees it at 81 to a dollar by December Jun 22, 2022 02:55 PM IST

    Rupee continues to tumble, BofA now sees it at 81 to a dollar by December

    This year, the Indian currency has already declined 5% due to continuous dollar outflows from local markets. Foreign investors have sold equities worth around $27.22 billion, so far, this year

  • Long-term investors should buy the coming dips, says Sandeep Bhatia of Macquarie Group Jun 22, 2022 11:38 AM IST

    Long-term investors should buy the coming dips, says Sandeep Bhatia of Macquarie Group

    We expect another 10% correction in the market as India's valuation is still most expensive among emerging markets, We have a Nifty target of 14500

  • US energy traders counter Biden, say fuel hike did not materialise overnight, won't be solved fast Jun 20, 2022 11:21 AM IST

    US energy traders counter Biden, say fuel hike did not materialise overnight, won't be solved fast

    On June 14, President Joe Biden pulled up oil companies to boost supply and criticized them for making "unacceptable" high profit margins.

  • Heavy discounts drive up India's purchase of Russian coal, despite sanctions Jun 18, 2022 10:51 PM IST

    Heavy discounts drive up India's purchase of Russian coal, despite sanctions

    "The Russian traders have been liberal with payment routes and are accepting payments in Indian rupee and United Arab Emirates dirham," one source told Reuters.

  • Monthly crude oil production in May 2.44% higher than target, up 4.6% YoY: Govt report Jun 17, 2022 03:24 PM IST

    Monthly crude oil production in May 2.44% higher than target, up 4.6% YoY: Govt report

    A statement released by the Centre read: “Cumulative crude oil production during April-May 2022 was 5019.72 TMT, which is 2.86 percent and 1.79 percent higher than the target for the period and production during the corresponding period of last year, respectively."

  • Oil prices fall ahead of expected US interest rate hike Jun 15, 2022 08:24 PM IST

    Oil prices fall ahead of expected US interest rate hike

    Brent crude futures for August were down 50 cents, or 0.4%, at $120.67 a barrel as of 1357 GMT, having fallen as low as $119.40 per barrel earlier in the session.

  • Russia pips Saudi Arabia to be India's second-largest oil supplier at 25 million barrels Jun 14, 2022 09:56 AM IST

    Russia pips Saudi Arabia to be India's second-largest oil supplier at 25 million barrels

    Indian refiners bought more than 16 per cent of Russian oil imports from Russia in May, which was about 25 million barrels of oil, reported PTI.

  • Fuel Prices on June 13: Check petrol, diesel rates in Delhi, Mumbai, and other cities Jun 13, 2022 08:07 AM IST

    Fuel Prices on June 13: Check petrol, diesel rates in Delhi, Mumbai, and other cities

    In Mumbai, one litre of petrol costs Rs 111.35 and diesel Rs 97.28. In Chennai, petrol and diesel prices are Rs 102.63 and Rs 94.24 per litre, respectively. In Kolkata, petrol is Rs 106.03, and diesel is Rs 92.76 per litre.

  • Indian crude oil basket hits 10-year high; petrol, diesel prices unchanged Jun 10, 2022 02:40 PM IST

    Indian crude oil basket hits 10-year high; petrol, diesel prices unchanged

    The Indian basket on June 9 touched USD 121.28, matching levels seen in February/March 2012, according to data available from the oil ministry's Petroleum Planning and Analysis Cell (PPAC).

  • L&T wishes crude oil prices to return to 'sweet spot' of $80-100/bbl Jun 09, 2022 10:56 AM IST

    L&T wishes crude oil prices to return to 'sweet spot' of $80-100/bbl

    Global crude oil prices have been on the boil since Russia’s invasion of Ukraine

  • Russia has no extra oil to sign deals with two Indian buyers: Sources Jun 08, 2022 08:07 PM IST

    Russia has no extra oil to sign deals with two Indian buyers: Sources

    Russia's Rosneft is holding back on signing new crude oil deals with two Indian state refiners, three sources with knowledge of the matter said, as it has committed sales to other customers.

  • Why is India’s crude output at a three-decade low? Jun 08, 2022 06:20 PM IST

    Why is India’s crude output at a three-decade low?

  • Fuel Prices on June 8: Check petrol, diesel rates in Delhi, Mumbai, and other cities Jun 08, 2022 09:05 AM IST

    Fuel Prices on June 8: Check petrol, diesel rates in Delhi, Mumbai, and other cities

    Oil marketing companies are passing on the excise duty cut to consumers despite losing Rs 13.08 a litre on petrol and Rs 24.09 per litre on diesel

  • Moneycontrol Selects: Top stories this evening Jun 06, 2022 07:58 PM IST

    Moneycontrol Selects: Top stories this evening

    Our specially curated package of the most interesting articles of the day will help you stay at the top of your game.

  • India in talks to increase Russian oil imports from Rosneft Jun 06, 2022 05:22 PM IST

    India in talks to increase Russian oil imports from Rosneft

    State processors are collectively working on finalising and securing new six-month supply contracts for Russian crude to India, people with knowledge of the companies’ procurement plans told Bloomberg.

  • 10-year bond yields hit 7.5% as surging crude prices stoke inflation worries Jun 06, 2022 10:11 AM IST

    10-year bond yields hit 7.5% as surging crude prices stoke inflation worries

    The RBI will announce its policy on June 8. Analysts expect a 50bps hike in the repo rate to 4.9 percent this week and 25bps in August to reach the first milestone of the pre-pandemic level of 5.15 percent

  • RBI policy, global trends to be key drivers for markets this week: Analysts Jun 05, 2022 12:08 PM IST

    RBI policy, global trends to be key drivers for markets this week: Analysts

    The RBI's policy decision would be the major event driving trading sentiment in the equity market this week, while global cues, foreign funds movement and crude oil prices will be the other key factors to watch out for, analysts said. Markets have been witnessing a rebound recently.

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