The United States has intensified its enforcement against Iran’s oil trade by sanctioning Qingdao Haiye Oil Terminal Co., Ltd., a Chinese crude oil terminal operator. The company’s involvement in importing Iranian petroleum products is at the center of recent US actions. This move also includes sanctions against Chinese national Xingchun Li, two vessel management companies,...Read More

Venezuela’s oil exports rose 14% to 1.23 million barrels per day in April, the highest in more than seven years, fueled by ‌more sales ⁠to ⁠the United States, India and Europe, shipping data and documents from state company PDVSA showed on Friday. The South American country has been draining oil inventories and recovering crude output...Read More

Pakistan has welcomed the first LNG cargo in almost two months as an LNG carrier docked at the GasPort terminal in what would be the first relief to the energy crisis in the country. The Denmark-flagged LNG carrier Seapeak Magellan departed from Sabine Pass in the United States on March 31, and arrived at the...Read More

US cotton export sales showed a strong recovery in the week ending April 17, 2026, with Upland demand rebounding while Pima sales moderated. According to the US Department of Agriculture (USDA) weekly report, net sales of Upland cotton for the 2025–26 marketing year rose to 162,900 RB (running bales), each weighing 226.8 kg, up 36...Read More

India’s Goods and Services Tax (GST) collections touched a record high in April 2026, signalling resilience in economic activity despite global uncertainties. Gross GST revenue rose 8.7% year-on-year to ₹2,42,702 crore, compared with ₹2,23,265 crore in April 2025, according to official data released on May 1. After accounting for refunds, net GST collections stood at...Read More

The government has cut down export duties on diesel and aviation turbine fuel (ATF). In this regard, the Centre has issued a notification which has come into effect from today.   According to the Ministry of Finance’s release, the export duty on diesel has been set at 23 rupees per litre, while aviation turbine fuel...Read More

NEW DELHI: Russia remained the largest source of crude for India in April, supplying 1.6 million barrels a day (mbd), followed by Saudi Arabia, the UAE, Venezuela and Qatar, data from shipment-tracking firm Kpler has shown.India imported nearly 4.4 mbd of crude in April, marginally lower than in March (4.5 mbd) and 85% of Feb...Read More

New Delhi: The ministry of finance has lowered the export duty on diesel to ₹23 per litre and that on jet fuel to ₹33 per litre with effect from Friday, 1 May. For the past two weeks, the duty on export of diesel and aviation turbine fuel (ATF) was at ₹55.5 per litre and ₹42...Read More