Page 3 - Oil Export

Brent oil prices top $94 a bbl, up for a third week on supply curbs

The International Energy Agency and Organization of Petroleum Exporting Countries both warned this week that the market would be in deficit through year-end

Dollar hits highest in more than a month on China economy concerns

Analysts said investors bought the dollar as shelter from concerns about the health of the global economy, particularly China

Oil dips further on China's economic recovery worries, strong dollar

U.S. West Texas Intermediate crude settled down 68 cents, or 0.82%, at $82.51 a barrel. Brent crude futures finished at $86.21 a barrel, down 60 cents, or 0.69%

How will India cope with Urals breaching the EU-denominated price cap?

Urals crude has passed the trading price cap imposed by the G7 but supplies to India may sail through largely unscathed. Here's why

India's imports of sunflower oil to fall as Black Sea grain deal expires

The drop in sunflower oil imports would force the world's biggest buyer of vegetable oils to increase purchases of palm oil and soyoil to compensate

India tops Russian Urals oil purchases in June as China retreats: Report

Russia has heavily relied on India, China, Turkey and Bulgaria for oil sales since the imposition of sanctions

Cause and effect: Are corporate profits fueling inflation globally

As the Federal Reserve continues with hikes, the linkage between corporate profit margins and inflation is blamed for consumer burden

Indian oil export basket in FY23 was most diversified ever, shows data

Israel, Brazil, and South Africa broke into top 10 list of destinations for Indian refined petroleum products

How Russian oil is still powering Europe's cars with help from India

Europe's refined fuel imports from India are set to surge above 360,000 barrels a day, edging just ahead of those of Saudi Arabia, Kpler's data show

Russian oil cuts Opec's share of Indian market to 22-year low at 59%

OPEC members mainly from the Middle East and Africa, saw their share of India's oil market slide to 59% in the fiscal year to March 2023, from about 72% in 2021-22

PM Modi, Hasina to launch Rs 377-cr cross-border oil pipeline on March 18

The 130-km-long friendship pipeline on West Bengal border will transport diesel from Numaligarh Refinery in Assam

Russia continues hold on Indian oil supplies; West's price cap threat looms

India will be unable to use Western tankers and insurance if it refuses to adhere to price cap

Explainer: The effect of Russian oil price cap, ban on global economy

Western governments are aiming to cap the price of Russia's oil exports in an attempt to limit the fossil fuel earnings that support Moscow's budget, its military and the invasion of Ukraine. The cap is set to take effect on Dec. 5, the same day the European Union will impose a boycott on most Russian oil its crude that is shipped by sea. The EU was still negotiating what the price ceiling should be. The twin measures could have an uncertain effect on the price of oil as worries over lost supply through the boycott compete with fears about lower demand from a slowing global economy. Here are basic facts about the price cap, the EU embargo and what they could mean for consumers and the global economy: WHAT IS THE PRICE CAP AND HOW WOULD IT WORK? U.S. Treasury Secretary Janet Yellen has proposed the cap with other Group of 7 allies as a way to limit Russia's earnings while keeping Russian oil flowing to the global economy. The aim is to hurt Moscow's finances while avoiding a sharp

India to soon sign long-term deal to export oil from Namibia: Report

Recently, IOC signed a deal to procure oil from Colombia's Ecopetrol SA and Brazil's Petroleo Brasileiro SA (Petrobras)

OPEC+ production cut ahead of winter puts India on a slippery slope

A higher than expected production cut by the group will add to the strain on government finances

Export tax on diesel, ATF hiked; windfall tax on domestic oil production up

The government has hiked the windfall profit tax on the export of diesel to Rs 13.5 per litre and that on jet fuel exports to Rs 9 per litre. The levy on domestically-produced crude oil too has been increased by Rs 300 per tonne to Rs 13,300. At the fourth fortnightly review, the government raised the windfall profit tax on the export of diesel to Rs 13.5 per litre from Rs 7, while on ATF (Aviation Turbine Fuel) exports, it was hiked to Rs 9 per litre from Rs 2, according to a finance ministry notification issued on Wednesday.

Gulf won't significantly cut down oil exports to India to satisfy Europe

Gulf oil exporters will most likely not cut crude supplies to India significantly next year in a bid to satisfy growing demand from Europe

Russia may step up exports of fuels to Asia as EU sanctions tighten

Moscow's invasion of Ukraine has caused turmoil across energy markets this year, and that disruption is set to extend into 2023

Centre garners Rs 3,000 crore from windfall tax on oil and gas firms

It is likely to continue with the levy till the Indian basket of crude is above $80 a barrel

Edible oil makers asked to remove packaging temperature from the labels

SEA executive director BV Mehta said that several oil companies in India have been resorting to the unfair practice of packing the oil at a higher temperature to reduce the weight