Russia still maintains its position as India's top supplier, accounting for over 35 per cent of India's total crude imports
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The blending of ethanol into petrol has resulted in savings of over Rs 24,300 crore of foreign exchange in the supply year 2022-23, the minister says
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The windfall tax on petroleum crude oil has been raised from Rs 1,300 to Rs 2,300 per ton, according to the notification. Simultaneously, the tax on diesel has been entirely eliminated, amounting to a relief of Rs 0.5 per litre for consumers
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Projections from S&P Global Commodity Insights estimate Russian crude imports to reach around 1.73 million b/d in 2023
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According to various reports, the anticipated reduction could be as significant as Rs 10 per litre, providing relief to consumers grappling with high fuel costs
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The US dollar touched a four-month low on Thursday following indications from the US central bank that interest rate hikes are likely behind us, and lower borrowing costs are anticipated in 2024. A weaker dollar typically results in cheaper dollar-denominated oil for foreign buyers
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The funding comes from a consortium of international banks, solidifying its position as one of the most substantial Project Finance deals in Asia
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Diesel consumption strongly rebounded during October and was higher by 14 per cent on the month and up by 9.3 per cent on the year after a lull in the July-September quarter
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