United States Oil Fund Lp ETF News

The export duty on Russian oil will increase by $6.3 to amount to $77.5 per ton from December 1, 2021, Report informs, quoting a report of the Russian Finance Ministry.

The Haryana Petroleum Dealers Association has planned a nationwide strike for Monday to protest the union government''s abrupt decision to lower central excise duty, resulting in the loss of petrol station owners. The strike, which began this morning at 6 a.m., will end at 6 a.m. on Tuesday. "We demand that the government increase our commission and compensate us for the losses we have sustained as a result of the excise duty drop. Dealers have lost lakhs as a result of the Centre''s decision to lower the price of fuel and diesel; consequently, we want payment for our losses "Palwinder Singh, the Association''s senior state vice president, stated. Dealers have lost lakhs of dollars as a result of the Centre''s decision to decrease VAT on gasoline and diesel, according to Singh. "As a result, we demand payment for our losses." The Finance Ministry said that the excise duty on gasoline will be reduced by Rs 5 and that on diesel will be reduced by Rs 10. To provide relief to consumers, it recommended governments to "commensurately lower" VAT on gasoline and diesel.

In 2020, the total oil product consumption of the Philippines'' transport sector totaled approximately 82.35 million barrels, accounting for the largest share of the country''s total oil product consumption. This was followed by the services sector at around 20.12 million barrels. In comparison, the agricultural sector consumed just over 1.6 million barrels of oil products that year.

Urban taxi drivers on Monday announced they will proceed with an indefinite strike starting Tuesday citing discrimination against them and saying that officers are trying to prevent them from crossing to the north for cheaper petrol. Supported by the Pancyprian intercity taxis, the work stoppage will start at 6.30am on

In 2020, the electricity consumption of the agricultural sector in the Philippines amounted to approximately 222 thousand of oil equivalent. The consumption of electricity accounted for the largest share of final energy consumption of the agricultural sector that year. In comparison, biodiesel consumption reached four thousand tons of oil equivalent.

The Organization of the Petroleum Exporting Countries (OPEC) and allied oil-producing countries rebuffed pressure from U.S. President Joe Biden to pump significantly more oil and lower gasoline prices for American drivers, deciding to stick with their plan for cautious monthly increases even as The post OPEC To Sustain Cautious Oil Production appeared first on City Business News .

The Sapugaskanda oil refinery will shut down tomorrow for the first time in history due to a shortage of crude oil, Ceylon Petroleum Corporations (CPC) Jathika Sevaka Sangamaya wing (JSS) Secretary Ananda Palitha said. Addressing the media, he claimed that the Petroleum Minister did not have the strength to bring the required crude oil stocks [] The post Sapugaskanda refinery to be shut for first time as no crude oil appeared first on Lanka 24 News .

News Ghana, Latest Updates and Breaking News of Ghana, GNA, https://newsghana.com.gh/piac-calls-for-development-plan-to-guide-spending-of-oil-revenue/The Public Interest and Accountability Committee (PIAC) has reiterated the need for a long-term development plan for effective utilisation of oil revenue. The Committee said such a plan would guide governments in choosing and investing appropriately in the 12 priority areas outlined for oil revenue disbursement. Petroleum revenue has been used to tackle too many [] News Ghana, Latest Updates and Breaking News of Ghana, GNA, https://newsghana.com.gh/piac-calls-for-development-plan-to-guide-spending-of-oil-revenue/

Zacks Investment Research upgraded shares of Vermilion Energy (NYSE:VET) (TSE:VET) from a hold rating to a buy rating in a report released on Thursday morning, Zacks.com reports. The brokerage currently has $13.00 price objective on the oil and gas companys stock. According to Zacks, Vermilion Energy Inc. is an international oil and gas producer with []

Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Sunday said that uncertainty surrounding the International Monetary Fund''s (IMF) loan facility for Pakistan will be over soon, saying a "good news" was on the cards. Tarin had earlier this month announced that the government''s agreement with the IMF over the revival of the $6 billion Extended Fund Facility (EFF) had been reached and a formal accord would be signed in a week. However, an announcement in this regard is still awaited. Addressing a gathering today, Tarin said the IMF''s expected announcement of the EFF resumption would also help arrest the rupee''s devaluation. Read more: With no IMF accord in sight, dollar rises to Rs171.85 in interbank market "Once the settlement with the IMF is reached, it will also rein in speculators causing devaluation of rupee," the PM''s adviser said. Tarin said speculative elements had caused eight to nine rupees'' worth of devaluation to the rupee, also adding that an additional demand for dollar by Afghan citizens was also adding to the pressure on the Pakistani currency.

A proposed crude oil export ban is encountering strong opposition in the oil and gas industry, which argue that such a ban will only hurt drillers and won''t help drivers. As the Biden Administration considers ways to lower the price of gasoline in the United States, which is now at a seven-year high, it faces calls from Democrats to weigh all possibilities, including the "nuclear option" to reimp