Crude oil Imports
Treating Formation Water
The treatment of formation water, a byproduct of crude oil excavation and processing, holds significant importance in preventing environmental pollution and promoting sustainable practices. Scientists from the Institute of Advanced Study in Science and Technology (IASST) have developed a groundbreaking ..
Month: Current Affairs - June, 2023
Category: Science & Technology Current Affairs
Cut in Windfall Tax on petrol, diesel, ATF
On July 20, 2022, Union government reduced the windfall tax on petrol, diesel, crude oil and jet fuel, following the cut in international rates. Highlights Windfall tax on diesel and aviation turbine fuel (ATF) has been reduced by Rs 2 ..
Month: Current Affairs - July, 2022
Category: Economy & Banking Current Affairs
India cuts Crude Palm Oil Import Tax
India has cut import tax on crude palm oil from 15 % to 10% for three months. This new duty would be effective from June 30, 2021. Key Points India is world’s biggest importer of vegetable oils. But it has ..
Month: Current Affairs - June, 2021
Crude oil output of India drops
The Ministry of Petroleum and Natural Gas recently released its data for the fiscal year 2020-21. According to the data, crude oil production of India fell to 30.5 million tonnes. It was 32.17 million tonnes in 2019-20. Key Highlights The ..
Month: Current Affairs - April, 2021
US Becomes India’s Second Biggest Oil Supplier
The United States has become the second biggest oil suppliers of India by overtaking Saudi Arabia. This shift comes after the refiners boosted cheaper U.S. crude purchases to a record levels in order to offset the OPEC+ supply cuts. Key ..
Month: Current Affairs - March, 2021
SBI Research: Fuel Prices will Drop if Brought under GST
A State Bank of India’s report highlights that, the pan-India Prices of fuels will drop if the petrol and diesel are brought under the GST regime to ₹75 and ₹68 a litre, respectively. Highlights of the report SBI research further ..
Month: Current Affairs - March, 2021
First Ship load of Crude Oil reaches India
On April 13, 2020, the first crude oil of 1 million barrels from UAE have reached India. The oil prices have declined by 60% since January, 2020. The prices are expected to rise with OPEC and Russia have come to ..
Month: Current Affairs - April, 2020
Gold Imports of 2019-20 dip by 8.86% narrowing Current Account Deficit to 143 billion USD
On March 16, 2020, the Commerce Ministry reported that the gold imports for the period April to February (2019-20) has reduced by 8.86% as compared to the previous year. Highlights India is the largest importer of gold in the world. ..