Hindustan Petroleum

Russia, Saudi Arabia play 'who-blinks-first' over crude price; scramble over market share gives Indian oil firms 'additional bargaining power'

The exacting decision by Riyadh to spike production was triggered by the failure on Friday to strike a deal with Russia on a new round of OPEC+ production cuts to arrest swooning oil prices owing to the novel coronavirus.

Fuel prices up marginally: Petrol, diesel rates rise across four metros after plunge in US crude production

The change in the price of crude oil in the international market directly influences the price of crude oil in the domestic market and is one of the most important factors responsible for an increase in petrol prices in Indian domestic market.

Snapping ATF supplies to Air India: Indian Oil Corporation says doesn't have cash-surplus, says chairman

IOC chairman said the company provides 90 days credit to Air India but the dues have been mounting and this must be 240 days now.

India raises cost of refinery project with Aramco by more than 36% after farmers' protest forces relocation of plant

The project cost at the signing of a deal with Saudi Aramco in 2018 was pegged at $44 billion.

IOC, HPCL to contest over Rs 4,000-cr tax demand on sale of ethanol blended petrol

Oil refiners Indian Oil Corp (IOC) and Hindustan Petroleum Corp Ltd (HPCL) Thursday said they will contest tax authorities demand for over Rs 4,000 crore in excise duty on ethanol used for doping petrol, saying the sugarcane extract for mixing in fuel is exempt from tax

Indian refiners turn to OPEC, Mexico, US to make up Iran oil gap; IOC likely to buy 1.5 mn tonne crude from Mexico

The state refiners have not yet placed orders for Iranian oil for May, when the current waiver expires, pending clarity from the United States.

India's crude oil shipments from Iran slump 60% in February as New Delhi cuts imports under sanctions waiver deal with US

India’s February oil imports from Iran were about 4 percent lower than January’s purchases, the data showed.

Maharashtra to move planned $44 bn Saudi Aramco refinery after farmers' protest; new location not revealed

Stare-run oil companies and Saudi Arabian Oil Company, known as Saudi Aramco, have teamed up to build the $44 billion (Rs 3 lakh crore) refinery

‘India’s reserves built at $17 per barrel, global average is $23’

India will soon have the capacity to store crude oil in underground caverns that it can dip into to meet 90 days of requirements in case of an emergency.

Record fuel prices hit petrol, diesel demand in September for first time in 10 months

A sharp fall in the value of the rupee and soaring oil prices led to record high pump prices of diesel and petrol,