Oil News

The reduction in prices of edible oil is a result of the customs duty reduction announced by the Government on May 30.

Backed by government support and strong local manufacturing by tech giants like Apple and Samsung, smartphone exports rose 55 per cent to $24.14 billion in 2024-25, compared to $15.57 billion in the previous fiscal and $10.96 billion in 2022-23.

Ayurvedic hair oil is a traditional remedy used in Ayurvedic medicine to nourish, strengthen, and promote healthy hair growth. It is made from natural ingredients, often derived from herbs, plants, and essential oils that are believed to balance the body's doshas (energies: Vata, Pitta, and Kapha). These oils are typically used to improve scalp health, reduce dandruff, prevent hair loss, and enhance the overall texture and shine of hair.

Middle-East Conflict: Crude prices are weak as fundamental factors do not support higher oil prices and there has not been any major attacks on the oilfields in Iran.  

The Myntra Big Fashion Festival offers a variety of Parachute hair oils for hair care.  From promoting growth to reducing hair fall, Parachute has something for everyone. Enjoy these deals and revitalize your hair.

The geographic survey has allowed Pakistan to identify the location of the deposits, and the relevant departments have informed the government of the resources found in Pakistani waters.

A few days ago, actress Priyanka Chopra shared a picture which became a topic of discussion among people. In this, she was applying garlic on her feet. After this, people were very curious to know whether rubbing garlic on feet is really beneficial. Let's know the benefits of applying garlic on feet.

The discovery of oil in ONGC's Krishna Godavari basin concurs with dreams of India's mission for an 'Aatmanirbhar Bharat'.  

The Iranian oil Minister claimed that the country`s gas exports have witnessed a year-on-year rise of 15 per cent in the current Iranian calendar year, noting that Iran has raked in $6.5 billion from its liquefied petroleum gas exports since March 2022.

Angered by the ongoing war between Russia and Ukraine, many countries of Europe banned the purchase of oil from Russia. After which Russia increased the supply to other countries, including India.

The tax on domestically produced crude oil was hiked to Rs 17,750 per tonne from Rs 17,000, a move that will hit producers like ONGC and Vedanta Ltd.

While the Rs 6 a litre export duty on petrol was scrapped, the tax on the export of diesel and jet fuel (ATF) was cut by Rs 2 per litre each to Rs 11 and Rs 4 respectively, government notifications showed.

According to official sources, Food Secretary Sudhanshu Pandey has written to the Solvent Extractors Association of India (SEA), Indian Vegetable Oil Producers Association (IVPA) and Soybean Processors Association of India (SOPA) in this regard.

In a research report, Kotak Securities said the bulk of the recent earnings downgrades are largely because of the export taxes on steel, diesel, petrol and additional excise duty on crude oil and hoped that such measures are for a short term and do not extend to other sectors.

Revenue Secretary Tarun Bajaj said the USD 40 per barrel level of oil prices being talked about for a rollback of the levy is unrealistic, considering the international oil rates currently.

There is a serious crisis of edible oil all over the world. This simply means that there may be a shortage of edible oil coming to your house in the next few days.

The halt has led to a hike in CNG and piped cooking gas prices to record levels. Current supplies have been maintained at March 2021 demand level, report said.

In the midst of the Ukraine war, the US and Britain have decided to impose tough sanctions against Russia. But Putin has warned that if this happens, he will stop the supply of crude oil in the international market.

Retail price could increase by Rs 9 a litre or 10 per cent. Russian supplies account for a very small percentage.

The benchmark touched a seven-year high of $105.79 after the invasion began last week. U.S. West Texas Intermediate (WTI) April crude futures were up $4.14, or 4.33%, at $99.86 a barrel after hitting its highest level since July 2014 at $101.53. Russia said on Tuesday its forces had cut off the Ukrainian military from the Sea of Azov north of the Black Sea.