Indian Oil Corp, the country’s top refiner, has raised crude processing at its plants to 60 percent capacity and aims to reach 80 percent by the end of this month, it said in a statement on Monday
Chidambaram dubs imposition of taxes on fuel as 'cruel' in times of distress; says govt must borrow to meet deficits
Governments must borrow to meet their deficits and not impose higher tax burdens when economic activity has ground to a halt amid the coronavirus pandemic, senior Congress leader P Chidambaram said on Wednesday after the Centre and the Delhi government hiked taxes on petroleum products
Shares of oil marketing companies -- Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd -- on Wednesday plunged up to 13 percent, a day after a hike in excise duty on petrol and diesel
Govt to gain Rs 1.6 lakh cr additional revenues this fiscal from record excise duty hike on petrol, diesel
The cash-strapped government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record increase in excise duty on petrol and diesel, that will help make up for revenue it lost in a slowing economy and shutting down of businesses due to coronavirus lockdown
Markets buoyant at close: Sensex rallies 743 points, Nifty tops 9,150-mark; Reliance Jio's Rs 43,574 cr deal with Facebook boosts sentiment
ZEE, Reliance industries and Asian Paints remained top gainers while ONGC, Vedanta and BPCL were the top losers.
Coronavirus Outbreak: Oil PSUs to re-start over Rs 42,000 cr of projects as lockdown restrictions ease
State-owned oil firms will resume as many as 511 projects involving over Rs 42,000 crore of investment with immediate effect as the country partially exited from an unprecedented nationwide lockdown on Monday
Coronavirus Outbreak: Fuel sales slump 50% in first half of April; petrol down 64%, diesel 61%, ATF 94%
India's fuel consumption slumped by a record 50 percent in April as all petroleum products except LPG saw massive demand erosion following a nationwide lockdown halted economic activity and travel
Govt plans to fill strategic petroleum reserve by third week of May; to help refineries reduce excess crude
India plans to completely fill its strategic petroleum reserve (SPR) by the third week of May by moving about 19 million barrels into the sites by then, the managing director of the country’s SPR said on Tuesday
India is capitalizing on low global oil prices to fill its underground strategic oil reserves, with the first shipload of 1 million barrels of crude oil from the UAE arriving at Mangalore as part of efforts to shore up supplies to meet any supply or price disruption
Airline and oil marketing stocks on Monday fell as crude oil prices surged after OPEC and its allies agreed to cut down on crude production
Coronavirus Outbreak: Petrol, diesel demand slumps 66% in April; ATF down 90% due to nation-wide lockdown
India’s fuel consumption slumped by over 66 percent in April as a nationwide lockdown halted economic activity and travel, which eviscerated demand
Capitalising on low global oil prices, India will fill its underground strategic oil reserves with oil from Saudi Arabia, the UAE and Iraq as it shores up supplies to meet any supply or price disruption
With the number of vehicles on roads falling sharply in the lockdown period due to the coronavirus spread, the public sector Mangalore Refinery and Petrochemicals Limited (MRPL) has cut down production of petrol and diesel by half
Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC) and other public sector oil companies have contributed over Rs 1,000 crore to the Prime Minister CARES Fund to help in the fight against COVID-19 pandemic
National oil marketing companies have come out on Sunday allaying the fears of consumers about product shortages, saying there is absolutely no shortage of any fuel, especially cooking gas, which is being supplied to customers at their doorsteps
State-run refiners reduce oil processing runs as demand tumbles after lockdowns; auto fuel, ATF to witness double-digit fall in March
Top refiner Indian Oil Corp and its subsidiary Chennai Petroleum has cut refinery runs by an average of 15 percent to 20 percent, sources familiar with the matter said.
DY Patil T20 Cup: Fit-again Hardik Pandya hits unbeaten 158 from 55 balls to power Reliance One to 104-run victory over BPCL
Pandya, who returned to competitive cricket in this tournament after undergoing back surgery, struck six fours and 20 sixes during his blitzkrieg to help Reliance One post 238/4 in their 20 overs
BPCL disinvestment: Vedanta chief Anil Agarwal says state-run company's valuation high, evaluating bid; oil PSU's m-cap at 92,920 cr
The government plans to sell its entire 52.98 percent stake in BPCL that will give buyers ready access to 14% of India's oil refining capacity and about one-fifth of the fuel market share in the world's fastest-growing energy market.
Coronavirus impact: BPCL procures 500 mn barrels of 'opportunity' crude from distress sale after prices plunge
BPCL will not buy more such crude as it will make inventory management unwieldy, said R Ramachandran, director of refineries
BPCL privatisation: Russia's Rosneft keen to bid for state-owned refinery; meets with Oil Minister Dharmendra Pradhan
As on 31 March, BPCL reported cash and cash equivalents of around Rs 5,300 crore, against Rs 10,900 crore of debt maturing over the next 15 months.