China’s threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.
An agreement on building oil storage depots at three locations in Nepal with Chinese assistance is expected to be signed during Nepali Prime Minister KP Oli’s visit to China next week, officials at the Ministry of Industry, Commerce and Supplies said.
This port, on the calm blue waters of the Persian Gulf, operates with military-like precision.
The world’s fastest-growing oil consumer is guzzling down Iranian crude before US sanctions start squeezing supplies from the Persian Gulf nation.
The world’s fastest-growing oil consumer is guzzling down Iranian crude before U.S. sanctions start squeezing supplies from the Persian Gulf nation.
States are likely to gain an additional Rs 37,426 crore in revenue in the current fiscal on the back of surge in oil prices and better tax collection due to the GST, says a report. According to SBI Research, the impact of GST on tax revenue is minimal except in a few states.
India’s oil imports from Iran will be affected from end-August as the State Bank of India has informed India’s refiners it will not handle oil deal payments from November, the finance head of Indian Oil Corp said on Friday.
Petrol prices were slashed by 8 paise today after the rates were unchanged for the last two days. Petrol will now cost Rs 76.35 a litre in Delhi, down from Rs 76.43, showed the data on Indian Oil’s website.
India will seek US exemptions to buy Iranian oil and work towards setting up an alternative payment mechanism to protect its trade with the Islamic Republic in the wake of US sanctions against Tehran, according to officials familiar with the matter.
At a time when the public is feeling the pinch of rising petrol and diesel prices, people in Maharashtra got a surprise when a cut of Rs 4 to 9 per litre was announced on Thursday.