The central government has reduced the windfall tax on domestic crude oil with effect from October 18 from Rs 12,200 a tonne to Rs 9,050 in its fortnightly review which will benefit upstream oil companies, including ONGC and Oil India Ltd (OIL).
Sadly, it seems rather unlikely that I would receive the remarkable windfall from Nigeria any time soon. My hope to sit bare-chested in sunny Cayman Islands and sip numberless Piña Coladas looks – to quote a metaphor from my dear uncle who too, like Daniel Ziwaga, liked gin and-tonic and died of acute cirrhosis – like a derelict liver.
