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The discoveries named "Amrit" and "Moonga", were made in the blocks that the company won in the recent open acreage licensing rounds

ONGC discovers crude oil and natural gas in 2 blocks in Mumbai offshore

ONGC strikes gold with two oil and gas discoveries in the Arabian Sea State-owned Oil and Natural Gas Corporation (ONGC) said in a statement that...
Crude oil pumped out of the ground and from below the seabed is refined and converted into fuels like petrol, diesel and jet fuel

Govt slashes windfall tax on domestically produced crude oil and export of diesel, jet...

Windfall profit tax on crude oil is the second lowest since the new levy was introduced in July 2022 According to an order, the government...
Use of flex-fuel vehicles is currently a Rs 7.5 lakh crore industry and is expected to reach Rs 15 lakh crore in the next five years

India needs to promote flex-fuel vehicles, e-vehicles to tackle crude oil fluctuations: Gadkari

Nitin Gadkari suggests India needs to promote flex-fule and electric vehicles Union Road, Transport and Highways Minister Nitin Gadkari has said that the country needs...
The decision came after the fifth fortnightly review of windfall taxes conducted by the Centre

Government reduces tax on domestically-produced crude oil

Oil slips to six-month low The government on Friday cut the windfall tax levied on locally- produced crude oil from Rs.13,300 per tonne to Rs.10,500...
The one and the only real reason why prices go up on a secular basis are that governments live beyond their means and they use the central banks to monetize their deficits

Crude oil @ $100/ barrel and Murder on the Orient Express

No moral dimensions are involved in explaining oil prices but there are powerful economic blind spots at work In the Agathe Christie fable of Murder...
Heightened tensions between Russia-Ukraine accelerated gold and crude oil prices on Monday

Amid Russia-Ukraine crisis gold, crude oil prices accelerate

Russia-Ukraine crisis boosts gold, crude oil prices Amid the escalated tensions between Russia-Ukraine, the prices for gold and crude oil saw an accelerated rise on...
Congress questioned whether Modi govt even considers Sandesara brothers as fugitive economic offenders, why oil PSUs were repeatedly engaging in business with offenders

Congress accuses BJP Govt of importing crude oil worth Rs.5701 crore from fugitive Sandesara...

Congress alleges oil PSUs doing business with economic offenders The Congress on Monday alleged that the BJP Government was purchasing goods and services from fugitives...
crude oil

Crude Oil has become new catalyst for World economy

Nigerian government and other members of the Organisation of Petroleum Exporting Countries (OPEC) are putting unending efforts to achieve greater stability in the...
India's Crude Oil per barrel price falls by $1.5 to below $25

India’s Crude Oil per barrel price falls by $1.5 to below $25

New Delhi With Iran declaring its intent to increase current oil production by around 50 percent, the Indian basket of crude oils fell overnight by...


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