Auto Industry News

Aramco and ADNOC joined a consortium of Indian state-run firms in 2018 to set up a 1.2 million barrels-per-day coastal refinery and petrochemical plant in western Maharashtra, seeking a reliable outlet for their oil.

It cut the tax on locally produced crude oil steeply to 1,700 rupees ($20.52) per tonne from 4,900 rupees, effective Friday

Moscow has repeatedly said it will not sell oil to countries that comply with the cap

Japan will ask the United States to be more flexible on EV purchase incentives for non-American carmakers.

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.

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 currently mixes 10% ethanol with gasoline

In November India accounted for about 53% of the total tanker shipments of the grade - the highest level on the record.