Peer Strategy

India's Tax Salvo Slams Producers, Private Refiners

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  • India's sudden windfall taxes have analysts revising down earnings estimates for E&Ps and private refiners but the outlook for state refiners is positive.

  • A simultaneous order for Indian refiners to sell more oil products domestically will further limit supply on an already-tight global market.

  • The knock to share prices and investor confidence could be more lasting than levies the government has pledged to review every 15 days.

The Issue

Fiscal Terms, Policy and Regulation, Refining, Independent Refiners
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