Page 6 - Diesel

Nayara Energy exports dip, 0.07 mn tonnes diesel flows to Europe in FY23

Nayara Energy, India's second-biggest private oil refinery, reported a sharp decline in fuel exports as domestic sales surge on retail network expansion and demand rise, a company official said. During calendar year 2022, Nayara reported 61 per cent of sales from the domestic market and the remaining 39 per cent from exports of all products including jet fuel (ATF), diesel and petrol. Out of the total 6.91 million tonne of fuel exported by Nayara during 2022, diesel exports stood at about 4.39 million tonne or roughly 64 per cent of all exports. More than 84 per cent of all fuel exports were to Asia, the Middle East and Africa with only minuscule volumes going to the EU, a company spokesperson said. Nayara sold the bulk of the fuel it produced from its 20 million tonne a year oil refinery at Vadinar in Gujarat through its 6,500+ petrol pumps - the largest fuel retail network by any private company. During January-March 2023, subsequent to meeting domestic demand, Nayara Energy's .

Audi's ex-chief pleads guilty in automaker's diesel emissions scandal

The former head of Volkswagen's luxury division Audi pleaded guilty Tuesday to charges tied to the automaker's diesel emissions scandal, becoming the highest-ranking executive convicted over cars that cheated on emissions tests with the help of illegal software. Rupert Stadler answered yes to a statement read in court by his attorney that said Stadler admitted wrongdoing and regret for his failure to keep rigged cars off the market even after the scandal had become public knowledge, the dpa news agency reported. Stadler entered the plea under an agreement with the judge and prosecutors that provides probation instead of jail time and orders him to pay a 1.1 million euro ($1.2 million) fine in return for a thorough admission of guilt. Three lower-ranking managers also have taken plea deals in the 2 1/2-year-long trial in Munich. Stadler had been charged with fraud and false certification by prosecutors who said he let cars with rigged software be sold after September 2015. That's w

Jio-bp launches diesel that will save of Rs 1.1 lakh per truck yearly

Jio-bp on Tuesday announced the launch of its diesel with Active technology, set to elevate diesel standards for Indian consumers.

India cuts windfall tax on petroleum crude from Rs 4,100 per tonne to zero

Prior to this, the government announced the reimposition of the windfall profit tax on domestically produced oil from zero to Rs 6,400 per tonne. The government also scrapped the export duty on diesel

Govt cuts windfall tax on petroleum crude to Rs 4,100/tonne from Rs 6,400

The government left the windfall tax on petrol, diesel and aviation turbine fuel at zero

Windfall tax on domestic crude oil cut to nil, on export of diesel halved

This means crude oil, aviation turbine fuel (ATF), and petrol will not attract windfall tax

Petrol, diesel sales rise as agriculture season picks up: Industry data

India's fuel demand rose in March as a pick-up in agriculture activity helped reverse a slowdown that was witnessed in the first half of the month, preliminary industry data showed on Sunday. Fuel sales soared to the highest levels in February on the back of robust demand from the agriculture sector as well as transport picking up after the winter lull. But a seasonal slowdown kicked in during the first half of March. However, there was a pick-up in the second half, which helped sales rise even month-on-month despite the high base of February. Petrol sales rose 5.1 per cent to 2.65 million tonne in March when compared with the same period of last year. Sales were up 3.4 per cent month-on-month, the data showed. Diesel, the most consumed fuel in the country, saw demand rise by 2.1 per cent to 6.81 million tonne during March when compared with 6.67 million tonne sales in the same period a year back. Month-on-month the demand was up 4.5 per cent. In the first half, petrol sales had

Windfall tax on crude oil slashed to Rs 3,500/tonne, duty on diesel hiked

Petrol and Aviation Turbine Fuel (ATF) have been exempted from the export levy

Govt may extend diesel, gasoline export curbs beyond March 31: Report

The extension of rules may discourage some Indian refiners, mainly private companies, from buying Russian fuels for re-exports to countries

Petrol, diesel sales drop in March after record growth in February

India's fuel demand fell in the first half of March after posting a record growth in the previous month, preliminary industry data showed on Thursday. Fuel sales soared to the highest levels in February on the back of robust demand from the agriculture sector as well as transport picking up after the winter lull. March saw the seasonal slowdown kicking in with rise in temperatures. Petrol sales decreased by 1.4 per cent to 1.22 million tonnes in the first half of March when compared with the same period of last year. Sales fell 0.5 per cent month-on-month, the data showed. Diesel, the most consumed fuel in the country, saw demand slip 10.2 per cent to 3.18 million tonnes during March 1 to 15 when compared with 3.54 million tonnes sales in the same period a year back. Month-on-month the demand was down 4.6 per cent. During the first half of February, petrol consumption had jumped by almost 18 per cent year-on-year while diesel sales were up nearly 25 per cent. The consumption of p

Gujarat govt earned Rs 38,760 cr from taxes on petrol, diesel in two years

The Gujarat government earned Rs 38,730 crore from value-added tax (VAT) and cess on petrol, diesel, CNG and PNG in the last two years, the state legislative Assembly was informed on Monday. The state government received Rs 4,219 crore from the Centre against Rs 21,672.90 crore as the Goods and Services Tax (GST) compensation for the period from January 1, 2021 to December 31, 2022, it was stated. Responding to a starred question in the Assembly, state Energy Minister Kanu Desai said the state government earned Rs 11,870 crore from VAT and cess on petrol, Rs 26,383 crore on diesel, Rs 128 crore on PNG and Rs 376 crore on CNG in two years. The state government had imposed 13.7 per cent VAT and 4 per cent cess on petrol, 14.9 per cent VAT and 4 per cent cess on diesel, 15 per cent VAT on PNG (commercial), 5 per cent VAT on PNG (household), 15 per cent VAT on CNG (wholesaler), and 5 per cent VAT on CNG (retailer), he said. He further informed the House that there was no change in the

Govt slashes windfall tax on diesel to Rs 0.50 per litre, nil on ATF

The government slashed windfall profit tax on export of diesel to its lowest of Rs 0.50 per litre and nil on jet fuel (ATF) while the levy on domestically produced crude oil was marginally increased, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has hiked to Rs 4,400 per tonne from Rs 4,350 per tonne, the order dated March 3 said. Crude oil pumped out of the ground and from below the seabed is refined and converted into fuels like petrol, diesel and aviation turbine fuel (ATF). The government has also cut the tax on export of diesel to Rs 0.5 per litre from Rs 2.5, and the same on overseas shipments of ATF was cut to nil from Rs 1.50 a litre. The new tax rates come into effect from March 4, the order said. This is the second reduction in rates in a fortnight. Rates were cut on February 16. The export levy on diesel and ATF is the lowest since the tax was introduced in July last year. The tax rates are .

Petrol, diesel sales surge to double digits in February after winter lull

Petrol sales of state-owned fuel retailers jumped 12 per cent to 2.57 million tonne in February, as compared to 2.29 million tonne of consumption in the same period of last year

Centre slashes windfall tax on crude oil from Rs 5,050/tonne to Rs 4,350

Windfall tax: The additional excise duty on ATF has been cut to Rs 1.5 per litre from Rs 6 per litre earlier

Exporters need to be receptive towards impact of recession: FM Sitharaman

She also revealed that petrol, diesel can be included in GST once states agree

Indian refiners may buy Russian oil for domestic demand, export own: Report

With these imports, India can maintain a domestic inventory of refined products like petrol and diesel

Europe bans Russian diesel, other oil products over Ukraine conflict

Europe imposed a ban Sunday on Russian diesel fuel and other refined oil products, slashing energy dependency on Moscow and seeking to further crimp the Kremlin's fossil fuel earnings as punishment for invading Ukraine. The ban comes along with a price cap agreed by the Group of Seven allied democracies. The goal is allowing Russian diesel to keep flowing to countries like China and India and avoiding a sudden price rise that would hurt consumers worldwide, while reducing the profits funding Moscow's budget and war. Diesel is key for the economy because it is used to power cars, trucks carrying goods, farm equipment and factory machinery. Diesel prices have been elevated due to recovering demand after the COVID-19 pandemic and limits on refining capacity, contributing to inflation for other goods worldwide. The new sanctions create uncertainty about prices as the 27-nation European Union finds new supplies of diesel from the U.S., Middle East and India to replace those from Russia

Kerala budget 2023: Opposition fumes as petrol, diesel, liquor get costlier

Kerala FM KN Balagopal presented the Pinarayi Vijayan 2.0 government's second budget proposing a Rs 2 cess on petrol and diesel in addition to a Rs 20 hike on Indian Made Foreign Liquor (IMFL)

Pakistan hikes petrol, diesel prices by Rs 35 amid economic crisis

With today's hike, petroleum will now cost Rs249.80 per litre, while diesel Rs 262.80 per litre, kerosene oil Rs 189.83 per litre and light diesel oil Rs 187 per litre

European Union mulls $100 a barrel price cap for Russia diesel exports

The EU and G-7 want to impose the limits on Russian exports to third countries