Search For "crude oil"
Crude Oil prices surge amid escalating Middle East tensions and Geopolitic
Updated : 2 years, 5 months ago IST
Brent, the global benchmark responsible for influencing two-thirds of the world's oil, witnessed a 3.76 per cent increase, reaching a notable USD 87.76 per barrel.
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Petroleum Minister Puri urges OPEC to infuse sense of affordability in oil
Updated : 2 years, 5 months ago IST
"Minister of Petroleum and Natural Gas Hardeep Singh Puri urged OPEC to recognize the gravity of the current economic situation and urged the Secretary-General to use his office to imbue a sense of pragmatism, balance and affordability in the oil markets," stated the Ministry of Petroleum a
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MEIL secures USD 648 mln contract in Mongolia
Updated : 2 years, 5 months ago IST
Megha Engineering and Infrastructures Limited (MEIL) has secured a Letter of Agreement (LOA) for constructing a crude oil refinery plant in Mongolia. The project, valued at USD 648 million, is the company's third project in the country.
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India’s core industries up 12.1 per cent in August, all 8 sectors recorded
Updated : 2 years, 5 months ago IST
The production of all eight core industries -- cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products and steel -- recorded positive growth in August over the corresponding month of last year, according to the Ministry of Commerce and Industry.
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Govt hikes windfall tax on domestic crude, reduces levy on export of diese
Updated : 2 years, 6 months ago IST
As per the Gazette of India, the Ministry of Finance, Department of Revenue, issued two notifications, amending previous taxation rates. According to the notifications, the windfall tax on domestic crude oil production has been increased significantly, while levies on the export of aviation
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US confirms seizing cargo containing Iranian oil earlier this year
Updated : 2 years, 6 months ago IST
The United States Department of Justice confirmed on Friday that it seized a cargo containing nearly one million barrels of Iranian oil earlier this year, Al Jazeera reported.
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Opposition largely agrees with India’s stance on Russia-Ukraine war: Rahul
Updated : 2 years, 6 months ago IST
Congress leader Rahul Gandhi on Friday said that the Opposition bloc understands India’s relations with Russia, and contended they would by and large agree with the country’s position on the ongoing war in Ukraine.
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Kuwait oil price down 48 cents to USD 89.42 pb
Updated : 2 years, 7 months ago IST
The price of Kuwaiti oil went down by 48 cents to USD 89.42 per barrel on Tuesday, compared to Monday's rate of USD 89.90 pb, said the Kuwait Petroleum Corporation (KPC) on Wednesday.
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Price of petroleum products in Pakistan likely to be increased by PKR 20:
Updated : 2 years, 7 months ago IST
As per the details, the price of crude oil has increased from USD 86 to USD 91 per barrel due to the rise in petroleum products’ global prices.
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First ever crude oil transaction in local currency undertaken between Indi
Updated : 2 years, 7 months ago IST
This is India’s first-ever LCS and is expected to reduce transaction costs and time and increase reliance on local currencies. This will further add to the preferential terms accruing from CEPA. Traders can choose the payment currency based on mutual agreement.
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Pakistan suspends import of Russian crude oil
Updated : 2 years, 7 months ago IST
The import of crude oil from Russia has been suspended after more furnace oil was produced than petrol during the refining process, according to sources in the energy sector, The News International reported on Sunday.
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UAE meets 37.4 per cent of Japan's crude oil needs in June
Updated : 2 years, 7 months ago IST
Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023 or 37.4 per cent of total imports, the Natural Resources and Energy Agency of Japan's Ministry of Economy, Trade and Industry said.
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