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Air India cuts fuel surcharges for North America, Europe flights
Air India has significantly reduced fuel surcharges on flights to North America, Australia, Europe, and the UK, effective July 1. This move follows a recent easing of oil prices after an earlier surge linked to the West Asia conflict. The airline had initially implemented higher surcharges in April due to rising operational costs. These revised rates offer considerable savings for travelers on these international routes.
Air India slashes fuel surcharges on long-haul international flights as oil prices fall: How airfares will change
The fuel surcharge for flights to North America and Australia has been lowered to $200 per ticket from $280. For services to Europe and the UK, the surcharge has been reduced to $125 from $205.
BPCL raises stake in Brazil's IBV to 100% with ₹2,312 crore deal
BPCL has acquired the remaining 39.14% stake in Brazil's IBV for ₹2,312 crore, taking full ownership of the oil and gas company as it looks to strengthen India's energy security.
India, China ink edible oil trade pact to boost soybean oil imports
India's edible oil industry, represented by IVPA, has inked a significant pact with China's CFNA to boost bilateral trade. This collaboration aims to increase soybean oil imports from China while simultaneously enhancing India's exports of mustard and soybean meals. The agreement is poised to strengthen market ties and foster innovation, especially as China becomes a key supplier of soybean oil to India, addressing the nation's substantial edible oil import needs.
India refiner Nayara's gasoline sold to Russia via traders, sources say
Indian refiner Nayara Energy's gasoline is reportedly reaching Russia, which faces fuel shortages due to Ukrainian attacks. While Indian Oil Minister stated no direct sales, traders might be facilitating these shipments. Nayara, with a stake held by Russian oil major Rosneft, has been processing exclusively Russian crude and relying on traders for fuel exports since EU sanctions complicated its dealings.
Airlines shun Rs 10,000-crore ATF subsidy as fuel prices fall
A Rs 10,000-crore jet fuel price stabilisation programme has failed to attract any airline sign-ups. The scheme, designed to shield carriers from surging fuel costs, lost its appeal as international oil prices declined. Airlines were offered a capped price of Rs 115 per litre, but market-linked rates have since fallen below this, making the voluntary scheme unattractive.
IT rebound, falling crude lift markets; Sensex up 580 pts, Nifty gains 170
IT stocks staged a sharp recovery while lower crude oil prices lifted investor sentiment, helping the Sensex gain 580 points and the Nifty rise 170 points
Why petrol and diesel prices haven't fallen yet? Hardeep Singh Puri hints at rate cut after sustained low crude prices
Fuel prices might see a dip if international crude oil rates stay low for a few more weeks, according to Union Minister Hardeep Puri. Oil companies are currently using crude purchased at higher prices during the West Asia conflict, leading to past losses. However, sustained low global prices could pave the way for a reduction at the pump. India also plans to boost its oil storage capacity.
Airlines Skip Rs 10,000-Crore ATF Price Scheme After Fall In Global Oil Prices
On July 1, ATF prices in fact dropped to Rs 110 per litre from Rs 115 rate that was announced on June 9.
Air India Cuts Fuel Surcharge Up To $125 On International Routes As ATF Prices Ease
The move comes after a sharp moderation in global crude oil prices and ATF prices.
Stock markets rally for second day; Sensex jumps 579 points on easing crude oil prices, buying in IT - The Hindu
Stock markets rally for second day; Sensex jumps 579 points on easing crude oil prices, buying in ITThe Hindu
India oil minister calls for increased fuel storage capacity - Investing.com
India oil minister calls for increased fuel storage capacityInvesting.com