A broadening of US sanctions on tankers that haul Iranian crude has jammed a crucial cog of the trade, slowing the delivery of oil from the OPEC producer to its most valuable customer: China.

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India scraps windfall tax on crude products, aviation fuel, petrol, diesel exports

India has scrapped a windfall tax on crude products, aviation turbine fuel, and petrol and diesel exports, a government order said on Monday. Reuters had reported on Thursday, citing a federal ...

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India removes windfall profit tax on crude oil and fuel exports to boost energy sector

The Indian government has abolished the windfall profit tax on domestically-produced crude oil and fuel exports, benefiting companies like ONGC, Oil I ...

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Windfall gains tax on domestic crude production, export of petrol, diesel, ATF scrapped

Apart from taking a share of windfall profits of oil producers and fuel exporters to partly soften the blow of duty cuts on domestic petrol and diesel sales, the government also wanted to ensure ...

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Government scraps windfall tax on crude oil, jet fuel, petrol and diesel exports

First imposed in July 2022, the windfall tax—formally known as Special Additional Excise Duty (SAED)—was introduced to capitalise on extraordinary profits earned by oil producers and exporters amid ...

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