NEW YORK: US oil benchmark West Texas Intermediate dropped 3.0 per cent Wednesday to finish at a new low for the year, on worries about weakening demand.
Category: Oil & Gas
Differences emerge between lenders, advisors over resolution plan options for Reliance Capital
Differences emerge between lenders, advisors over resolution plan options for Reliance Capital
Experts say price cap on Russian oil may make crude oil dearer
NEW DELHI: The cap on Russian oil by the European Union (EU), G7 and Australia is likely to increase the price of crude oil in the market, believes market experts. According to experts, the cap on Russian oil, which is effective from today (5 December 2022), will also increase the under-recoveries of refiners like Indian […]
Experts say price cap on Russian oil may make crude oil dearer
NEW DELHI: The cap on Russian oil by the European Union (EU), G7 and Australia is likely to increase the price of crude oil in the market, believes market experts. According to experts, the cap on Russian oil, which is effective from today (5 December 2022), will also increase the under-recoveries of refiners like Indian […]
Govt slashes windfall gains tax on exports of crude oil, diesel
NEW DELHI: The government on Thursday slashed windfall tax or the special additional excise duty (SAED) on locally produced oil and also reduced levy on diesel exports. According to the gazette notification by the finance ministry, SAED on locally produced oil was reduced to Rs 4,900 per tonne from the existing Rs 10,200 per tonne […]
OPEC set to stick or cut more amid plan to cap Russian oil price
LONDON: Major oil producers are expected to stick to their current output strategy or even slash production further when they meet on Sunday in the face of falling prices, a potential Russian oil price cap and an embargo on Russian crude shipments.
G7, EU agree oil price cap to reduce Russia war funding
BRUSSELS: The G7 and EU on Friday agreed a USD 60-per-barrel price cap on Russian oil in an attempt to deny the Kremlin of war resources, as President Vladimir Putin said more strikes on Ukrainian infrastructure were “inevitable”.
A ‘hole’some package
THIRUVANANTHAPURAM: The deplorable condition of roads continues to make life difficult for motorists and local residents in the capital city. Development and maintenance of roads have come to a halt following the suspension of the ambitious Smart Road project under the Smart City Thiruvananthapuram Ltd (SCTL).
Indian Oil directed to pay Rs 5 lakh to kin of LPG blast victim
HYDERABAD: The Telangana State Consumer Disputes Redressal Commission has directed Indian Oil Corporation to pay compensation of Rs 5 lakh for alleged malfunctioning of an LPG cylinder that leaked and the resultant blast led to the death of five persons and left seven others injured.
Government panel suggests gas price of USD 4 to 6.5 per unit
NEW DELHI: The government-appointed gas price review panel headed by Kirit Parikh has recommended a floor price of $4 per mmBtu (Metric Million British Thermal Unit) and a cap of $6.5 per mmBtu for legacy and old fields being operated by ONGC and OIL.
Germany turns to Qatar, strikes major gas deal amid energy crisis
DOHA: Qatar on Tuesday announced its first major deal to send liquefied natural gas to Germany as Europe scrambles to find alternatives to Russian energy sources.
Crude prices up as China eases covid curbs
NEW DELHI: Following the announcement of relaxation of Covid norms in China, crude oil prices on Tuesday took a steep jump in the international market. Brent Crude Futures on Tuesday (November 29, 2022) was up by $1.91, or 2.30% and traded at $85.10 a barrel at 07.24 PM IST. The US West Texas Intermediate (WTI) […]