Crude Oil

New Delhi: The government on late Friday evening hiked the windfall tax on domestic production of crude oil to Rs 10,000 per tonne from Rs 6,700 per tonne. It also reduced the special additional excise duty (SAED) or windfall tax on…

New Delhi: Russia's finance ministry has said that the country intents to reduce the discount it uses to set taxes on the country's crude oil exports from $25 to $20 per barrel. Due to Western sanctions imposed on Russia following the…

Islamabad: Cash-strapped Pakistan plans to place its first order for Russian crude oil next month and it will take about four weeks for the commodity to reach the country, Minister of State for Petroleum Musadik Malik said.    Pakistan,…

Islamabad: Cash-strapped Pakistan is making concerted efforts to procure Russian crude oil at USD 50 per barrel, at least USD 10 per barrel less than the price cap imposed by the G7 countries due to Moscow’s invasion of Ukraine, media…

New Delhi: The government has hiked windfall profit tax levied on domestically-produced crude oil as well as on the export of diesel and ATF, in line with firming international oil prices, according to an official order. The levy on…

New Delhi: Saudi Arabia cut oil prices for its main market of Asia and for Europe, signalling that demand remains sluggish as economies slow and coronavirus cases in China surge, news agency Bloomberg reported. Brent crude futures have…

Islamabad: Cash-strapped Pakistan on Monday said Russia has agreed to provide it with crude oil as well as petrol and diesel at discounted rates, as Islamabad battles to contain a current account deficit swelled by energy payments, mostly…

New Delhi: India on Monday stoutly defended its import of crude oil from Russia amid the Ukraine conflict with External Affairs Minister S Jaishankar asserting that New Delhi’s procurement was just one-sixth of the European purchase in last…

New Delhi: After holding wide-ranging talks with his Russian counterpart Sergey Lavrov in Moscow, External Affairs Minister S Jaishankar on Tuesday clearly indicated that India will continue to import crude oil from Russia notwithstanding…

New Delhi: The government on Saturday hiked windfall tax on domestically produced crude oil by more than a third while doubling the rate on export of diesel and re-introducing the levy on overseas shipment of jet fuel (ATF) in line with…