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Oil prices shoot above $95 per barrel ahead of OPEC+ meet

Other than the meeting scheduled on Wednesday, US China tension over Taiwan amid US House Speaker Nancy Pelosi’s visit to the island has also created uncertainty in market over fears of military escalation.
Representational image(REUTERS)
Representational image(REUTERS)
Published on Aug 02, 2022 10:32 PM IST
Bloomberg | | Posted by Nisha Anand

Aviation fuel prices cut by 2.2%, only second reduction this year

On average, jet fuel makes up nearly 40 per cent of a commercial airline's operating cost, meaning any significant increase will almost certainly increase fares.
(Representational, Credit: Reuters)
(Representational, Credit: Reuters)
Updated on Jul 16, 2022 12:00 PM IST

Oil prices extend drop as recession fears cloud global demand outlook

Brent crude futures fell 71 cents to $99.98 a barrel by 0013 GMT. WTI crude futures fell 62 cents to $97.91 a barrel. The declines follow a dramatic fall on Tuesday.
Brent crude futures fell 71 cents to $99.98 a barrel by 0013 GMT.(Reuters file photo. Representative image)
Brent crude futures fell 71 cents to $99.98 a barrel by 0013 GMT.(Reuters file photo. Representative image)
Published on Jul 07, 2022 07:46 AM IST
Reuters |

Govt considers windfall tax on oil and gas giants

The tax, which may be levied when oil prices, for instance, cross a certain level, will boost the government’s finances, and help fund efforts to protect vulnerable sections from rampant inflation.
This is not the first time India is considering a windfall tax. Policymakers flirted with the idea in 2018, and before that in 2008, when oil prices were on a high, and many Indian oil producers made a killing. Both times, the idea was abandoned, after it was strongly opposed by private oil companies. (AFP)
This is not the first time India is considering a windfall tax. Policymakers flirted with the idea in 2018, and before that in 2008, when oil prices were on a high, and many Indian oil producers made a killing. Both times, the idea was abandoned, after it was strongly opposed by private oil companies. (AFP)
Updated on May 27, 2022 05:40 AM IST
ByRajeev Jayaswal, New Delhi

India's oil crisis rises: ONGC struggles to move Russian oil as sanctions bite

  • Several Indian companies including ONGC have stakes in Russian oil and gas assets, and India has been buying more Russian crude since Moscow invaded Ukraine, snapping up the popular Urals crude grade, while other buyers have shunned Russian exports.
ONGC has a 20% stake in the Sakhalin 1 project that produces a Russian grade known as Sokol, which ONGC exports through tenders.(REUTERS)
ONGC has a 20% stake in the Sakhalin 1 project that produces a Russian grade known as Sokol, which ONGC exports through tenders.(REUTERS)
Published on Apr 27, 2022 06:30 AM IST
Reuters |
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