Sector Oil and Gas - Latest news, views and updates

Oil and Gas

Sector

Watch

Oil and Gas

SECTOR | 26 Mar 2025, 07:06AM

Petrobras to finish analysis of Shapoorji's FPSO appeal in India this week

Business Standard

The Indian company was the only one to bid on chartering a production storage and offloading vessel, known as an FPSO, for Petrobras' Barracuda and Caratinga fields

Oil and Gas

SECTOR | 25 Mar 2025, 07:18AM

Shapoorji Pallonji Energy appeals to Brazil on Petrobras-cancelled tender

Business Standard

A delegation for the offshore infrastructure company was in Rio de Janeiro and the capital Brasilia last week as it seeks to reverse Petrobras' decision

Oil and Gas

SECTOR | 20 Mar 2025

No windfall tax on oil, gas companies after new law: Hardeep Singh Puri

Business Standard

Oil and gas companies will not face any new taxes like the windfall profits tax after the coming into effect of a new law that promises stability of fiscal regime, Petroleum Minister Hardeep Singh Puri said. Parliament has passed the Oilfields (Regulation and Development) Bill, 2024 that provides policy stability to investors, decriminalises provisions and promotes ease of doing business. "After this bill, it will be difficult to levy (new taxes like) windfall tax because somebody will sue us (for failing to keep the promise of fiscal stability)," he said at a reception he hosted to celebrate the passage of the bill. Investors looking to invest in finding and producing oil and gas want fiscal stability, and new taxes that seek to take away gains made when prices are high, without compensating for low or no margins when rates are low, are often a deterrent. India imposed a windfall profit tax on July 1, 2022 joining a growing number of nations that tax super normal profits of energy

Oil and Gas

SECTOR | 18 Mar 2025

Will Ukraine Ceasefire Bring Relief To Oil Markets? Vandana Hari Weighs In

NDTV Profit

As the world watches the developments in Ukraine, a ceasefire could potentially bring much-needed relief to oil markets, which have been volatile due to geopolitical tensions. Energy expert Vandana Hari, founder of Vanda Insights, weighs in on the possible impact of a Ukraine ceasefire on oil prices.

Oil and Gas

SECTOR | 17 Mar 2025

1.15 Cr consumers have given up LPG subsidy

Business Line

As of December 2024, state-controlled oil marketing companies (OMCs) cumulatively had 32.89 crore active domestic LPG customers, served through 25,542 distributors

Oil and Gas

SECTOR | 12 Mar 2025

Lok Sabha passes Oilfields (Regulation and Development) Bill

Business Line

Historic day in India's quest towards energy security and energy self-sufficiency, says Oil Minister H S Puri.

Oil and Gas

SECTOR | 12 Mar 2025

Markets open mixed amid global trade tensions; tech sector drags while auto, banking show resilience

Business Line

HDFC Bank and Kotak Mahindra Bank also showed positive momentum, gaining 1.67 per cent and 1.57 per cent respectively. Oil marketing company BPCL advanced 1.34 per cent, reflecting optimism in the energy sector

Oil and Gas

SECTOR | 10 Mar 2025

Maharashtra govt proposes 6% tax on EVs costing more than Rs 30 lakh

Business Standard

The Maharashtra government on Monday proposed a 6 per cent tax on electric vehicles priced more than Rs 30 lakh in the budget for the fiscal 2025-26. Deputy Chief Minister Ajit Pawar, who also holds the finance portfolio, tabled the budget and announced a 1 per cent hike in the Motor Vehicle Tax on CNG and LPG vehicles. The government has also proposed a 7 per cent tax on vehicles used for construction activities, which will generate additional revenue of approximately Rs 180 crore. The state government has proposed a 6 per cent tax on electric vehicles above Rs 30 lakh and a 1 per cent tax hike on individual-owned non-transport four-wheeler CNG and LPG vehicles. The move will generate an additional revenue of approximately Rs 150 crore in 2025-26. Pawar also announced a 7 per cent tax on light goods vehicles (LGVs) carrying goods up to 7,500 kg, which will earn the state Rs 625 crore. The government has also increased the maximum limit of the Motor Vehicles Tax from Rs 20 lakh t

Oil and Gas

SECTOR | 08 Mar 2025

Russian Oil Refinery Hit By Drone As Missiles Pound Ukraine

NDTV Profit

President Volodymyr Zelenskiy said the latest strikes showed Moscow's objectives in its invasion of Ukraine are unchanged, despite signals the Kremlin may be willing to accept a temporary truce.

Oil and Gas

SECTOR | 07 Mar 2025

India, Malaysia Strengthen Palm Oil Trade Ties Through New Awareness Initiative

NDTV Profit

The collaboration will focus on consumer education, industry engagement, and scientific research.

No results found