Petrol Export

Petrol and Aviation Turbine Fuel (ATF) have been exempted from the export levy

OMCs export surplus petrol and diesel to other countries only after meeting domestic demand in the country

It is likely to continue with the levy till the Indian basket of crude is above $80 a barrel

Petrol and diesel prices are down by $40-50 per barrel from month-ago levels

Export taxes on petrol are likely to see the steepest reduction, while levies on diesel and jet fuel could also be lowered to adjust the impact of price declines

Gujarat has the highest percentage of private oil pumps at 24%, followed by Rajasthan at 14.5%; the former will elect a new legislative assembly by this December, the latter, a year later

Brokerage firm Motilal Oswal reiterates its BUY rating with revised target prices of Rs 171 and Rs 364 for ONGC and Oil India, respectively.

Metals & oil firms together saw profit of Rs 3.05 trn in FY22

The ministry imposed cess on petroleum products of Rs 6 a litre, Rs 13 per litre and Rs 6 on petrol, diesel and ATF exports, respectively, to improve domestic fuel supply and garner additional revenue

Hike in excise duty on fuel was imposed after private refiners made a killing exporting the dirt cheap Russian fuel available to them at elevated prices

The government has levied Rs 6 per litre tax on ATF and petrol exports and imposed Rs 13 per litre tax on diesel exports

India's factory output expanded at its slowest pace in nine months in June. More on that in our top headlines

The $500 mn credit line provided by India for fuel will be exhausted after the delivery of another 120,000 tons of diesel and 35,000 tons of petrol to Sri Lanka in the remaining period of this month.

Imports during the period grew by 60.72 per cent to USD 14.82 billion, the data showed.

Net profit for the manufacturing sector contracted in Q1 (June quarter) of 2019-20, mainly due to a production slowdown, it added

According to the latest estimates by the petroleum ministry, India imported $67 billion while it exported $20.4 billion