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Oil export News

03 Aug 2022

Gov cuts windfall tax on diesel, ATF export; raises levy on domestic crude oil

The tax on domestically produced crude oil was hiked to Rs 17,750 per tonne from Rs 17,000, a move that will hit producers like ONGC and Vedanta Ltd.

20 Jul 2022

Govt slashes windfall tax on fuel export, domestic crude oil

While the Rs 6 a litre export duty on petrol was scrapped, the tax on the export of diesel and jet fuel (ATF) was cut by Rs 2 per litre each to Rs 11 and Rs 4 respectively, government notifications showed.

05 Jul 2022

New taxes to hurt disinvestment plans, corporate profits, investment climate

In a research report, Kotak Securities said the bulk of the recent earnings downgrades are largely because of the export taxes on steel, diesel, petrol and additional excise duty on crude oil and hoped that such measures are for a short term and do not extend to other sectors.

04 Jul 2022

Govt to review oil export, windfall tax based on forex rate

Revenue Secretary Tarun Bajaj said the USD 40 per barrel level of oil prices being talked about for a rollback of the levy is unrealistic, considering the international oil rates currently.

19 Apr 2017

OPEC 'optimistic' oil output cuts leading to price recovery

OPEC members agreed in November to cut production by 1.2 million barrels per day for six months beginning from the start of the year.

15 Feb 2016

Iran`s first post-sanctions oil exports to Europe begin

Iran is poised to export its first oil shipments to Europe since international economic sanctions were lifted in mid-January, the oil ministry`s SHANA news service reported on Monday.

17 Jan 2016

Gulf shares slide on oil rout, Iran's return

Share prices in the energy-rich Gulf states nosedived Sunday following the sharp decline in oil prices and the expected rise in Iranian crude exports after the lifting of economic sanctions.

17 Jan 2016

Iran to boost oil exports by 500,000 bpd after sanctions: Shana

Iran is ready to increase its crude oil exports by 500,000 barrels a day, the deputy oil minister said on Sunday, hours after international sanctions on Tehran were lifted, removing an obstacle to exports.

19 Dec 2015

Now, India can import oil from US: Know why

The United States on Saturday lifted a 40-year-old ban on export of oil.

16 Aug 2015

Cairn seeks oil swaps to get higher margins

Sources close to the company said Cairn India has sought government approval for a tripartite agreement wherein Barmer crude oil will go to the international market where it will get better price than the ones realised locally.

10 Jun 2015

Cairn India seeks to export oil despite ban

Cairn India, backed by billionaire Anil Agarwal, did not respond to telephone calls and an email seeking comment about the export notice.

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