The “Indian Petroleum & Natural Gas Statistics” presents updated comprehensive statistics on various aspects of Indian Petroleum & Natural Gas sector. The data on international developments in respect
Experience Shows Windfall Tax Can Dampen Investor Confidence, Cut Reinvestment And Stultify Markets & Growth THE recent, select demands to levy windfall taxes on private-sector petroleum companies does call for a proper policy debate. It's a current issue in public finance, no doubt driven by the recent flare up in oil prices. Also, the economic rationale for windfall taxes
Oil prices tumbled Tuesday as US stocks sold off amid worries about America's economic health. Prices dropped more than $10 a barrel from their highest point of the day. At midday, light, sweet crude fell $6.27 to $138.91 in an extremely volatile session.
There is no alternative but to free the oil sector from price management and create a vibrant competitive market. This entails removal of entry barriers, third-party access to key oil infrastructure such as ports and terminals, says T N R Rao.
Press Trust Of India / Lima July 09, 2008, 0:12 IST Reliance Industries (RIL) has signed an agreement with Peru's Perupetro to jointly explore for oil and gas in the Andean country,Cesar Gutirrez ,president of Peru's state-run firm, said. "We'll be formalising the agreements reached in these past weeks. Also, in the coming days we will provide details of the joint exploration venture which focusses on areas that hold oil and gas potential," Cesar Gutierrez told Peru's official Andina news agency yesterday.
Opec president Chakib Khelil warned on Sunday that oil prices will continue to rise because of the falling dollar, in an interview in the Algeria-News. "The price of oil will rise again in the coming weeks. We have to follow the evolution of the dollar, because a 1% fall in the dollar means four dollars more on the price of oil,' Khelil, who is Algeria's minister of energy and mines, told the independent daily.
Rakteem Katakey / New Delhi July 04, 2008, 0:43 IST India's search for oil to meet its growing energy needs is taking its flagship company, Oil and Natural Gas Corporation (ONGC), to every corner of the world. ONGC's latest destination is Angola, which produces around 1 per cent of the world's oil.
LONG before the fuel price increase was announced on June 4, its political dimensions had come up time and again in discussions among partners of the United Progressive Alliance (UPA) government at the Centre. The debate was on even during the run-up to the Assembly elections in Karnataka, which were held in May. The discussions highlighted the global increase in the price of crude oil and the demand from oil companies for governmental measures to tide them over.
Chaturvedi Panel Feels States Should Follow Centre's Example To Contain Petro Price Spiral STATES, which have earned a whopping Rs 65,000 crore as tax revenues from the oil sector in 2007-08 thanks to the high oil prices, may now have to relook at their tax structure. The high-level committee constituted by the prime minister to examine the fuel pricing in the country is of the view that the state governments should follow Centre's footsteps and adopt specific duty regime for petro products to remove the impact of spiral in prices.
Madrid: Iran on Wednesday refused to follow Saudi Arabia in raising its crude production to calm volatility in the international oil markets, even as it remained ambivalent on whether Tehran will use oil as a weapon to retaliate if its nuclear installations came under attack from Israel.
MADRID: In a clear indication that India - and other developing economies - had better get used to high oil prices, the cartel of oil exporting countries, which fuels four out of every 10 consumer, on Monday threw out finance minister P Chidambaram's suggestion that OPEC should restore the price band mechanism to control runaway crude.
