February 18, 2021 12:22 am
A rise of over 50 per cent in the price of Brent crude, from around $40 per barrel in October to $64.4 on Wednesday, has led to the prices of petrol and diesel hitting record levels across India.
December 22, 2020 2:55 pm
Brent crude futures were down 88 cents, or 1.7% to $50.03 a barrel at 0730 GMT, while US West Texas Intermediate (WTI) crude futures fell 92 cents, or 1.9%, to $47.05 a barrel.
October 19, 2020 9:59 am
Experts noted that given the recovery in the price of Brent crude, oil-producing companies were not expecting any relief on oil cess from the government.
June 16, 2020 11:54 am
Brent crude fell 20 cents, or 0.5%, at $39.52 a barrel by 0424 GMT, having gained 2.6% on Monday. US oil dropped 21 cents, or nearly 0.6%, to $36.91 a barrel, after closing 2.4% higher in the previous session.
May 11, 2020 12:30 am
Experts say that the demand for ATF has collapsed as it is only being used for cargo transport, relief and rescue work, as well as emergency services.
April 27, 2020 1:58 am
Against the projected $111.3 billion (233 million tonne) for FY20, India imported just $95.5 billion (207 million tonne) of crude oil in April-February of the fiscal, which was even 7.2 per cent lower than in the year-ago period (6.6 per cent lower in rupee term).
April 26, 2020 6:33 pm
Exports slowing down and not much domestic lifting of sugar by institutional consumers has significantly undermined the ability of mills to make cane payments.
April 24, 2020 12:12 am
Oil producers are required to pay a 20 per cent oil cess on the price of crude as well as a royalty of 10-12.5 per cent for offshore production of oil.
April 24, 2020 1:28 pm
We cannot leverage low and volatile oil prices to our advantage unless we empower traders, free them of bureaucratic control.
April 28, 2020 11:58 pm
The fundamentals of the oil industry are not just determined by demand and supply, they are also determined by geopolitics, by the paper trader, said Vikram S Mehta.