Impact Of Additional Tax on Refined Products and Crude Oil | ET Now | Latest News

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Indian Government imposed an additional tax of Rs 13/6/6 per litre on the export of diesel, petrol, and ATF, respectively. It also levied an additional tax of $294/tonne or around $40 per barrel on crude oil production. According to analysts, RIL’s GRM could be impacted by $6-$13 per barrel. The impact on state-owned oil refiners is expected to be limited as their exposure to exports is limited.
ONGC, Oil India, and Vedanta get impacted due to additional tax on crude oil production. Analysts expect a $5/bbl drop in ONGC and Oil India’s realization to impact EPS by 7% and 12%, respectively. For Vedanta, the consolidated EBITDA could fall by 6%-7% because of the additional tax imposed by the government.
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