Congress leaders and workers on Wednesday staged demonstrations at all district headquarters in the state to protest the increase in diesel and petrol prices, a party leader said. In Lucknow, the protesters rode rickshaws from Ravindralaya to Vidhan Sabha as part of the protest held on the directives of party national general secretary Priyanka Gandhi […]
Category: Oil & Gas
Govt forms committee to rationalise ATF taxes
The Aviation Ministry has formed a committee to rationalise additional taxes that airlines have to pay while uplifting Air Turbine Fuel (ATF) at airports across India, according to senior government officials. Currently, airlines have to pay charges such as ‘throughput charges’, ‘into plane charges’ and ‘fuel infrastructure charges’ when they take ATF at any airport […]
Now, get fuel at your doorstep with an app
Doorstep delivery has been one of the biggest disruptors of the new age economy. From getting groceries delivered to your doorstep, hailing a cab, getting meals delivery, all you need to do is swipe on an app and the item would be made available very quickly. This is the basic idea that resulted in Repos […]
Cairn Energy ready to reinvest in India
Britain’s Cairn Energy PLC, which gave India its biggest onshore oil discovery and gas find that opened the KG basin, is keen to reinvest in the country if a retrospective tax issue it is facing is resolved, its chief executive said. Cairn, which in early 1990s grew the Ravva oil and gas field in the […]
GAIL to help BMTC fund CNG buses
The BMTC may finally shed its reluctance to embrace CNG, thanks to an offer from Gail Gas Limited to pay the cost difference between diesel and the “costlier” CNG buses. The development comes nearly four years after Gail set up stations at three depots of the Bangalore Metropolitan Transport Company (BMTC) at a cost of […]
Petrol, diesel prices to go up by Rs 2 per litre
Prices of petrol and diesel will be hiked by up to Rs 2.50 per litre after the Budget 2019-20 proposed to hike additional excise duty, road and infrastructure cess together by Rs 2 on each fuel. Industry sources said that post imposition of local sales tax and Value added tax on the two fuels, petrol […]
Economic Survey flags high tax regime for jet fuel
Unpredictable changes in global crude oil prices were compounded by high domestic tax regime on jet fuel in 2018-19 for the airlines industry, according to the Economic Survey. Jet fuel or Aviation Turbine Fuel (ATF) accounts for a significant chunk of an airline’s operational costs. The survey tabled in Parliament on Thursday also said the […]
End of Iran sanctions waivers to hit Indian economy
The end on Thursday of US sanctions waivers for purchases of Iranian oil is likely to hit India’s economy hard, increasing fuel costs and quickening inflation, analysts say. Last May, President Donald Trump withdrew Washington from the 2015 Iran nuclear deal with world powers that had given Tehran sanctions relief in exchange for curbs on […]
DH Deciphers | Crude oil: This should fuel some thought
Are oil prices rising? Brent crude prices in the international markets have been on the rise in the past several months. In the first four months of calendar 2019, Brent crude price has shot up by about 32%. Crude oil is in the range of $71-72 a barrel currently, and some expect it to rise […]
Reliance says not breaching U.S. sanctions on Venezuela
India’s Reliance Industries , operator of the world’s largest oil refining complex, on Friday said in a statement it was not breaching U.S. sanctions against Venezuela. The company said its recent fuel exports to Venezuela were agreed to before Washington imposed sanctions in January, and that they were meant to settle Reliance’s crude oil imports […]