Govt cuts windfall tax on petroleum crude

The Indian government on Friday slashed the windfall tax on petroleum crude to Rs 5,200 ($62.33) per metric ton from Rs 5,700, with effect from June 1. he tax, which is revised every fortnight, remains unchanged for diesel and aviation turbine fuel. On May 16, the Indian government had reduced the windfall tax on petroleum

Biden Rejects Oil Refineries Seeking Biofuel-Blending Exemptions

The Environmental Protection Agency’s decision is a blow to 15 unidentified small refineries that had sought the waivers from requirements to blend renewable fuels into gasoline and diesel, arguing the mandates were too costly. However, the agency determined none of the 26 rejected applications demonstrated they experienced disproportionate economic hardship caused by their compliance with

Gasoline sales in India fell down

Sales of gasoline, used in passenger vehicles and two-wheelers, fell 3.8% to 1.31 million tonnes in the first half of June from the same period a month ago, the data showed.

Indian government extends restrictions on gasoline, diesel

India has extended restrictions on the export of diesel and gasoline, as the government tries to ensure the availability of refined fuels for the domestic market. The government had imposed curbs on gasoline and gasoil exports through the end of the financial year. The latest notification, issued did not specify how long the curbs would

Tamil Nadu plans to raise $605 mn for ethanol production

Tamil Nadu plans to raise 50bn rupees ($605mn) through investments for boosting molasses and grain-based ethanol production and meet its ethanol-blending requirement. The state’s ethanol blending policy 2023 will support domestic production of fuel-grade ethanol under the national Ethanol Blended Petrol (EBP) programme, which has set a target of 20% ethanol blending in gasoline (E20)

Porsche starts production of ‘e-fuel’ to replace gasoline

Porsche and several partners have started production of a climate neutral “e-fuel” aimed at replacing gasoline in vehicles with traditional internal combustion engines. The German automaker, owned by Volkswagen, said that a pilot plant in Chile started commercial production of the alternative fuel. By mid-decade, Porsche is planning to produce millions of gallons of the

Ethanol gas emerging as cheap alternative in the US

At certain gas stations across Sacramento, the capital city of the US state of California, E-85, a gasoline blend of 85 percent ethanol and 15 percent gasoline, is priced significantly lower than normal gasoline currently because the price of corn is trading below the price of petroleum. In the mid-2000s, Chevy and Ford created many

Biden to waive rule on sale of higher ethanol blend gasoline

President Joe Biden to announce he’ll suspend a federal rule preventing the sale of higher ethanol blend gasoline this summer as his administration tries to tamp down prices at the pump that have spiked during Russia’s war with Ukraine. Most gasoline sold in the U.S. is blended with 10% ethanol. The Environmental Protection Agency will

India’s fuel appetite seen at a record even as oil nears $100

India, the world’s third-biggest oil user, expects consumption of petroleum fuels to touch a record next year even as crude prices move toward the $100-a-barrel mark. Demand has been pegged at 214.5 million tons in the year starting on April 1, according to predictions by the Indian oil ministry’s Petroleum Planning and Analysis Cell. If

India expects fuel demand to grow 5.5% in the next fiscal year

India’s fuel demand is likely to grow 5.5% in the next fiscal year beginning April 1, initial government estimates show, reflecting a pick-up in industrial activity and mobility in Asia’s third largest economy after months of stagnation. India’s fuel consumption in 2022-23, a proxy for oil demand, could rise to 214.5 million tonnes from the