India’s total exports of petroleum products, which account for over a tenth of the gross value of outbound shipments, are set to drop below the 1.2 million barrel per day (mbpd) mark in the current calendar year, the lowest level of annual exports in the past 8 years.
India is set to approach the World Trade Organisation (WTO) to make the certification from Bureau of Indian Standards (BIS) mandatory for all the liquefied petroleum gas stoves sold in the country.
The government could carry over as much as Rs 25,000 crore in pending petroleum subsidy payments to the coming financial year (2019-20, beginning April 1), as much as the budgeted estimate for 2018-19
Union Petroleum Minister Dharmendra Pradhan on Wednesday said that the decision to levy GST on petroleum products will be taken as per the recommendation of GST Council.
Hailing the GST Council’s decision to reduce tax rates on several items and services, President of PHD Chamber of Commerce and Industry, Rajeev Talwar on Sunday urged the government and the council to consider bringing
It is an issue of international border. Despite not being illegal in the eyes of law, it is eating up mammoth amount of government revenue.
Bihar deputy chief minister and GST council’s member Sushil Modi on Thursday said the that council can think of bringing the petroleum products under the new tax regime only after the monthly revenue target of Rs 1 lakh crore is achieved.
India’s state-owned petroleum explorer Oil and Natural Gas Corporation (ONGC) today reported a 58 per cent jump in net profit for the quarter ended June at Rs 6,144 crore on the back of higher volumes and improved crude price realisation.
The government’s recent approval to set up two more strategic petroleum reserves in the country deserves a thumbs-up.
Indian cabinet on Wednesday approved establishment of two strategic petroleum reserves (SPRs) with a total capacity of 6.5 mln tonnes – interim finance minister Piyush Goyal