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Oil minister Dharmendra Pradhan warned on Thursday that rising oil prices could hurt global economic recovery in the aftermath of the Covid-19 pandemic that caused most economies to shrink last year. ...

India plans to keep the option open of resuming crude purchase from Tehran and will closely monitor the steps taken by the Biden administration on the Iran nuclear issue. Petroleum minister Dharmendr...

The oil ministry on Thursday indicated that the government could consider a cut in duties to provide some relief to motorists if global crude prices continue to spike. Petrol prices in Delhi scaled a...

After remaining soft for the better part of 2020 because of the Covid-19 pandemic, crude oil prices have began to inch up and are hovering around $50 per barrel mark. However, experts are of the view...

The quality of oil that ONGC has discovered in the Bengal basin is superior to Brent and on a par with West Texas Intermediate (WTI) — the world’s best-known benchmark crude oils. The sma...

The oil subsidy bill could be slashed by half in the next fiscal from Rs 40,915 crore if crude remains within $45-55 per barrel. Sources said North Block is considering many factors in its subsidy ca...

At present, crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel is out of the GST. Input tax credit paid on procurements is not allowed against the output tax liabil...

Oil India has signed a MoU with Assam Hydrocarbon & Energy Company aimed at establishing a joint institutional framework to facilitate bilateral co-operation in hydrocarbon exploration and develop...