Tag: oil

Centre extends export curbs on petroleum products

Centre extends export curbs on petroleum products

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Image for representational purpose only. | Photo Credit: The Hindu The government has extended export curbs on petroleum products that compel oil refiners to sell a significant chunk of their export volumes in the domestic market, as per a notification issued on April 1 by the Directorate General of Foreign Trade (DGFT). These restrictions had […]

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Government stays with export curbs on petroleum

Government stays with export curbs on petroleum

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Private refiners were also making windfall gains by sourcing Russian oil at discounted rates and re-exporting them to other markets. File | Photo Credit: The Hindu The government has extended export curbs on petroleum products that compel oil refiners to sell a significant chunk of their export volumes in the domestic market, as per a notification […]

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Explained | Why has OPEC+ cut oil production? How will it affect India and the world?

Explained | Why has OPEC+ cut oil production? How will it affect India and the world?

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What is OPEC+? Why have they slashed oil output? What is its effect on India and global relations? What is OPEC+? Why have they slashed oil output? What is its effect on India and global relations? The story so far: On October 4, the Organization of Petroleum Exporting Countries (OPEC) and its allies, known as […]

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OPEC+ makes big oil cut to boost prices; pump costs may rise

OPEC+ makes big oil cut to boost prices; pump costs may rise

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The OPEC+ alliance of oil-exporting countries has decided to sharply cut production to support sagging oil prices The OPEC+ alliance of oil-exporting countries has decided to sharply cut production to support sagging oil prices The OPEC+ alliance of oil-exporting countries decided on Wednesday to sharply cut production to support sagging oil prices, a move that […]

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Parliamentary proceedings | Profit of oil companies increased manifold: Centre tells Rajya Sabha

Parliamentary proceedings | Profit of oil companies increased manifold: Centre tells Rajya Sabha

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LPG price increased only by 41.5% while Saudi Contract Price had increased by 207% from 2020 to 2022: Minister LPG price increased only by 41.5% while Saudi Contract Price had increased by 207% from 2020 to 2022: Minister The profits of oil marketing companies has increased manifold, according an answer tabled in Rajya Sabha by […]

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8 billion rubles of Indian oil firms stuck in Russia

8 billion rubles of Indian oil firms stuck in Russia

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Not a large sum, confident of getting it after conflict ends, says OIL Director (Finance) Not a large sum, confident of getting it after conflict ends, says OIL Director (Finance) As much as 8 billion rubles (about ₹1,000 crore) of dividend income belonging to Indian oil firms is stuck in Russia after the Putin administration […]

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