NEW DELHI: Finance Minister Nirmala Sitharaman has said that India could explore buying Russian crude oil past the price cap imposed by the G-7. Sitharaman told an international wire service in Washington that India has a large population and therefore has to look at prices that are going to be affordable for the country.
Category: Oil & Gas
Government scraps windfall tax on crude oil
NEW DELHI: The government on Tuesday removed windfall tax, or Special Additional Excise Duty (SAED), on export of domestically produced crude oil and and halved the levy on the export of diesel to Rs 0.50 per litre.
Residents recovering from yard fire shaken by leak in Adani Gas pipeline
KOCHI: The city residents woke up to a pungent odour following a chemical leak from a gas pipeline laid by Adani Gas at Kangarappady, triggering panic on Saturday morning. The leakage reportedly began on Friday noon and the smell intensified at night. Several residents of Kangarappady, Kalamassery, Kakkanad, HMT Colony, Edappally, and CUSAT complained about […]
Police petrol pump closed in Thiruvananthapuram as arrears cross Rs 1.5 crore
THIRUVANANTHAPURAM: The district police have found themselves in a tight spot as the petrol pump run by them in front of the SAP camp at Peroorkada in Thiruvananthapuram has been temporarily closed due to non-payment of arrears.
Russia says oil sales to India soar amid Ukraine conflict
MOSCOW: Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the conflict in Ukraine, Russia’s deputy prime minister said Tuesday.
Plea in Delhi HC seeks oil firms ‘to make up’ for pollution
NEW DELHI: The Delhi High Court on Monday sought a response from the Centre on a plea seeking to direct public and private sector oil companies to contribute funds to public transport services of Delhi-NCR to compensate for environmental damage caused due to fossil fuels.
Funding issues force Adanis to delay petrochemical project in Ahmedabad
NEW DELHI: Delay in financial closure has forced the Adani group to suspend work on the Rs 34,900-crore petrochemical project in Ahmedabad. Adani Group on Monday clarified it has decided to keep the major equipment procurement and site construction activities on hold as it is waiting for the financial closure of the Green PVC project […]
Banking crisis: Crude oil falls to 15-month low
NEW DELHI: The crude price in the international market fell to their lowest in 15 months due to fallout from banks in the US and Europe. In the past one week, crude prices dipped more than 10 per cent of their value.
Hydrogen mission: Long way to go
NEW DELHI: In January 2023, the government approved a whopping Rs 19,744 crore for the implementation of the National Green Hydrogen mission in the country. Considered a future fuel, green hydrogen or ammonia is said to be a replacement for traditional fossil fuels. The government said the purpose of this mission is to reduce India’s […]
Oil giant Saudi Aramco makes a historic USD 161 billion profit in 2022
DUBAI: Oil giant Saudi Aramco reported on Sunday earning USD 161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists.
India, China to be at the centre of Russia’s new energy policy
NEW DELHI: Russia will no longer rely on the West for its energy trade and its new energy policy will be oriented towards more reliable partners like India and China, said Russian Foreign Minister Sergey Lavrov in Delhi on Friday.
BRS continues protests over LPG prices in Telangana
HYDERABAD: For the second day on Friday, BRS leaders and activists continued their protests across the State against the hike in domestic LPG refill prices. Animal Husbandry Minister Talasani Srinivas Yadav, along with scores of BRS workers participated in a dharna held at Jubilee Bus station. Srinivas Yadav demanded that Narendra Modi should step down […]