loader2
Partner With Us NRI

Open DEMAT AND TRADING ACCOUNT WITH ICICIDIRECT

  • 04 Jul 2022
  • ICICI Securities

Government introduces windfall tax on oil producers

News: The Government of India has imposed additional cess of Rs. 23250/tonne on crude oil production

Views: Additional cess has been introduced in the backdrop of oil process trending at elevated level of ~US$ 110/bbl. Imposition of cess would hit realisations of large upstream companies

Impact: Negative

related news

Government does not fix price level for withdrawal of windfall tax on crude

The Revenue secretary said that levy of windfall tax will be monitored every two weeks depending on international crude prices, foreign currency rates and domestic cost of crude

05-Jul-2022 09:00

Government likely to deregulate domestic crude prices

According to Times of India, the Government Of India may deregulate domestic crude oil. Currently, the government decides which PSU refinery gets how much crude from each producer. The price is then calculated based on a formula with Brent oil as a marker

29-Jun-2022 09:00