Auto Industry News
India Cuts Windfall Tax On Crude, Aviation Fuel
It cut the tax on locally produced crude oil steeply to 1,700 rupees ($20.52) per tonne from 4,900 rupees, effective Friday
Kremlin Says It Is Finalising Last Details Of Response To Oil Price Cap
Dec 31, 2022 04:19 PM
Moscow has repeatedly said it will not sell oil to countries that comply with the cap
Japan To Seek U.S. Flexibility On EV Purchase Incentives, Kyodo Reports
Dec 31, 2022 04:18 PM
Japan will ask the United States to be more flexible on EV purchase incentives for non-American carmakers.
Battery Maker Envision AESC Seeking Potential Investors To Fund Expansion
Dec 31, 2022 04:18 PM
Japan-based Envision Automotive Energy Supply Corporation (AESC) is also in talks with automakers in Japan, Europe, the United States and China for new supply deals, its chief executive Shoichi Matsumoto told Reuters.
U.S., EU Launch Formal Group To Discuss Conflict Over EV Subsidies
Dec 31, 2022 04:18 PM
The talks come as auto manufacturers from Stuttgart to Seoul have been angered by Biden's $430 billion "Inflation Reduction Act", enacted in August and aimed at rolling back climate change and making Washington a world leader in the EV market.
India Preparing To Launch 20% Ethanol With Gasoline - Report
Dec 31, 2022 04:17 PM
India currently mixes 10% ethanol with gasoline
India To Remain Top Buyer Of Russia's Urals Crude In Dec - Report
Dec 31, 2022 04:17 PM
In November India accounted for about 53% of the total tanker shipments of the grade - the highest level on the record.
India Sees No Hit To Fuel Exports From EU Feb 5 Action On Russian Imports - Oil Secretary
Dec 31, 2022 04:17 PM
Indian refiners have been gorging on Russian oil sold at a discount as some Western entities shun purchases from Moscow following its invasion of Ukraine in late February.
Oil Slumps By Over $2/bbl, Dogged By Recession Fears
Dec 31, 2022 04:17 PM
Oil prices briefly erased some losses after officials said the U.S. Energy Department will repurchase 3 million barrels of domestic crude oil for the Strategic Petroleum Reserve.
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