In the corresponding period last year, the oil refinery incurred a net loss of Rs 6147.94 crore due to the impact of high crude oil prices
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According to Finance Minister Anton Siluanov, the ministry plans to implement this change, and additional measures are being considered to enhance the calculation of oil export taxes
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The attractiveness of Russian oil has diminished for Indian refiners as the discounts have narrowed, and payment settlement issues have emerged, prompting them to look for alternative sources in the Middle East
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Various biofuels covered under this MoU include Sustainable Aviation Fuel (SAF), Ethanol, Compressed Bio-Gas (CBG), Biodiesel and Bio-bitumen among others
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Initially, they have planned to construct five plants, and the remaining five will be established based on the availability of feedstock, which is an important consideration
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As per reports, IOC got 2.5 million standard cubic metres per day out of the 5 mmscmd of gas auctioned last month
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ONGC intends to increase the amount of electricity produced from renewable sources from 189 MW to 1 GW by 2030. It is looking for a project with a similar capacity to the 5 GW project it currently has in Rajasthan
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With this launch, the company has also kicked a new price war in the market
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