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OID CESS
India’s retreat from Russian oil sends China’s Urals imports to a nearly three-year highChina’s appetite for Russian Urals crude is surging, reaching its peak since June 2023. This uptick follows India's substantial drop in Rus...- Budget 2026: EV incentives, step up R&D, localisation push on wishlistIndia's upcoming Union Budget is expected to boost electric vehicle adoption. Measures will likely focus on strengthening domestic manufact...
- Budget 2026: Oil industry seeks abolition or review of OID cess on pre-NELP and nomination blocksAs the Union Budget 2026 approaches, the oil and gas sector is calling on the government to reconsider the OID cess imposed on domestically...
- More reforms in offing to raise private participation in oil, gas fields, says Oil SecyTalking to reporters at the end of the India Energy Forum of CERAWeek, he said companies will have to learn to live with low prices.
- Oil, gas giants may get tax sop as government works on lifelineA relief package has become crucial for the survival of companies such as ONGC.
- ONGC asks govt to waive cess, royalty as plummeting oil prices not enough to cover operating costWhile the slump in international oil prices to more than two-decade low is good news for fuel consumers, it is spelling economic havoc on o...
- ONGC's SOS to Govt: Cut cess, royalty, free gas price to help companies surviveIndia's top oil and gas producer ONGC has sent an SOS to the government seeking a cut in taxes as well as being granted pricing and marketi...
- Budget wish list: Oil & Gas sector hoping for reduction in cess rate, 100% depreciation allowanceThe change in Oil Industry Development (OID) cess duty would be positive for upstream firms as it would reduce costs by $5-6/barrel at curr...
- ONGC, Cairn India demand lowering of cess on crudeThe producers want the government to cut the cess to 8 per cent of the price they realise on sale of domestically produced crude oil.
- Dharmendra Pradhan pitches for cut in oil cessAfter oil producers including ONGC and private sector Cairn India pleaded for reduction in cess, oil ministry had written to Finance Minist...
- ONGC, Cairn India demand halving of cess on crude oilONGC paid Rs 4,500 per tonne cess on crude oil it produced from almost all its fields including prime Mumbai High, till February 2016.
- Cairn wants government to reduce oil cess before BudgetCairn India wants the government to not wait till the Budget to cut cess on crude oil so as to give relief to domestic oil producers hit by...
- Government likely to give oil cess relief to domestic producersThe government is likely to convert a cess on domestically produced crude oil into an ad-valorem rate from a fixed per tonne levy, at prese...
- Oil Ministry pitches for ad-valorem levy of oil cessWith oil prices dropping to an 11-year low of under $35 per barrel, the cess translates into one-third of the realisation going away in jus...
- Cairn seeks cut in cess on crude as oil prices halveCairn has asked government to cut the cess levied on crude oil produced from its Rajasthan fields as the levy was taking away nearly a fift...
- ONGC, Oil India, Cairn seek cut in cess on crudeONGC and Oil India as well as private sector Cairn India have asked the government to cut cess on crude oil they have to pay in view of slu...
- ONGC has potential to double in next two years: Analysts"Under the 50:50 subsidy sharing formula ONGC and OIL’s subsidy would be lower and net oil price realization higher than assumed," says a r...
- Subsidy burden to come down for ONGC, OILThe twin measures would ensure a predictable return for the oil producers and help them plan their investment for exploration.
- Budget 2013: Under-recoveries for OMCs are becoming unmanageable says RS Sharma"The more important issue is for the PSUs -- the provision in the budget for under-recoveries, cash support for under-recoveries to the OMC...
- Fuel subsidies may hijack oil cess, hurting fertiliser sectorWith the global crude oil prices moving towards $150-per-barrel mark, the government is considering using Rs 72,750-crore oil industry deve...
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