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Windfall tax cut

02 Nov 2022

Govt cuts windfall tax on crude oil, hikes for aviation fuel, diesel

India slashes the windfall tax on the export of crude oil. Windfall tax is levied on an unforeseen or unexpectedly large profit. The Centre had initially imposed a cess of Rs 23,250 per tonne on crude oil.

17 Jan 2016

Iran to boost oil exports by 500,000 bpd after sanctions: Shana

Iran is ready to increase its crude oil exports by 500,000 barrels a day, the deputy oil minister said on Sunday, hours after international sanctions on Tehran were lifted, removing an obstacle to exports.

20 Aug 2015

US crude down 4% to hit 6-1/2-year low on surprise stock build

US crude oil slumped over 4 percent on Wednesday to hit a 6-1/2-year low and almost break below $40 per barrel, as a huge unexpected stockpile build in the United States reinforced concerns about a growing global oil glut.

14 May 2015

Bipartisan bill introduced to end ban on crude oil export

An influential group of Senators from both the Republican and Democratic parties have introduced a legislation in US Senate to end the 1975 ban on crude oil export, which could benefit gas and oil deficient countries like India.

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