Oil Firms

Petrol pump dealers call off Friday's strike after oil companies warn of strict action

Petrol pump dealers on Wednesday called off their proposed day-long strike on Friday after state-owned oil firms warned them of strict action, including cancelling their contracts

Carmakers and Oil firms are debate of the shift to electric vehicles and demand for oil

Many carmakers are predicting a significant shift to electric vehicles in the next decade. Advances in battery technology and the growth of autonomous driving and ride sharing - suited to electric vehicles - will power this expansion, they reason.

State oil firms now sourcing entire dollar demand from market: RBI

The Reserve Bank of India said on Monday state-run oil companies were now sourcing their entire dollar demand in markets, but added it would consider re-opening a special swap window on "rare days" of strong greenback demand.<br /><br />

Indian refiners to start cash transfer for Iran oil after nuclear deal

Indian refiners are ready to start transferring cash owed for Iranian oil as early as next week following a landmark deal to curb Tehran's nuclear programme that allows importers to shift billions of dollars back to Iran.<br /><br />

India's struggling sugar mills seek solace in ethanol

Mills were supplying ethanol at around Rs 38 per litre in the latest tender, with imported gasoline costing Rs 46 per litre.

Rupee posts biggest fall in three weeks on strong dollar demand

The rupee weakened on Monday, posting its biggest single-day fall in three weeks, on the back of heavy dollar buying by oil firms and other importers looking to meet month-end demand

Higher demand drives Indian oil firms' fight for foreign assets

Faced with soaring demand, stagnant output at home and a need to diversify from Iranian crude imports lost to Western sanctions, Indian oil companies are hungry for deals like ONGC's Kashagan buy that promise supplies sooner rather than later.

RBI, oil firms discuss potential dollar purchase measures

After rupee hitting a lifetime low of 57.25 to dollar, RBI has asked the state-run oil firms to steer 50 percent of their dollar purchases through a single state-owned bank.

Rupee gains as oil slips to eight-month low

Rupee gained to 55.89 as oil prices slipped to almost $100 due to weak manufacturing activity from China and the eurozone debt crisis that raised concern of a slowdown in fuel demand.

Oil firms may lose Rs 72K cr in 2012: Jaipal Reddy

The minister stressed on the immediate need to act on the situation.