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The Cabinet on Wednesday approved the National Policy on Biofuels which allows doping of ethanol produced from damaged foodgrains, rotten potatoes, corn and sugar beet with petrol to cut oil imports by Rs 4,000 crore this year alone.

Govt seeks to reassure markets on deregulation of fuel prices

Shares in the companies fell more than 20 per cent to multi-year lows on Friday before recovering marginally.

7 Oct 2018 11:45 AM IST

Hindustan Petroleum also fell to its 52-week low of Rs 165.45, down 25 per cent over its last closing price.

Stocks of oil marketing companies plunge to 52 week lows on fuel price...

Govt's decision to curtail marketing margins on auto fuels by Rs1/litre brings to fore the earnings uncertainty for oil...

5 Oct 2018 12:02 PM IST

The Reserve Bank is expected to go for a hike in key policy rates by the fourth quarter of this year.

RBI allows oil marketing firms to raise USD 10 billion from overseas

OMCs will now be able to raise external commercial borrowing for working capital purposes.

3 Oct 2018 7:44 PM IST

Oil minister Dharmendra Pradhan on Sunday inaugurated Pradhan Mantri Ujjwala Yojana here on Sunday.

5,000 bio-gas plants at Rs 1.75 lakh cr investment in offing: Pradhan

Pradhan announced that state-owned fuel marketing companies will purchase all the bio-gas from these plants.

1 Oct 2018 2:30 PM IST

Market indices opened sharply higher on Thursday, with the Sensex rising 383.96 points to 33,403.03 and the Nifty gaining 124.10 points at 10,252.50.

Aviation, oil marketing cos rise on lower global crude oil prices

Shares of aviation and oil marketing companies surged up to 6 per cent on Wednesday.

21 Nov 2018 6:04 PM IST

Indian Oil Corp Ltd reported a nearly 18 per cent rise in second-quarter profit.

City gas distribution rights to help oil marketing firms diversify:...

IOC and HPCL won city gas distribution rights in nine geographical areas each last month, and BPCL got rights to two...

27 March 2019 7:08 PM IST

Fitch estimates that the banking sector will require around USD 90 billion in new total capital by 2018-19 fiscal to meet Basel-III standards and ongoing business needs.

Fitch Ratings sees risks to OMCs as govt seeks more returns

Struggling to meet budget targets, the government had asked cash-rich PSUs to pay second interim dividend.

26 April 2019 2:26 PM IST

Oil marketing companies (OMCs) led by Indian Oil have stopped jet fuel supply at six airports, Air India Spokesperson Dhananjay Kumar had earlier said in a statement. (Photo: ANI)

Stoppage of fuel supplies due to shortage of funds: Air India Chairman...

'It is because of overall shortage of funds, doesn't reflect on operational performance and recent efforts of airline,'...

25 Aug 2019 3:57 PM IST

On the domestic front, Air India is introducing new flights on BhopalPuneBhopal route and Varanasi-Chennai-Varanasi from June 5, 2019.

Oil companies stop fuel supply to Air India at 6 airports due to...

However, an official said the flight operations of the airline are currently normal and unaffected.

22 Aug 2019 8:25 PM IST

Oil minister Dharmendra Pradhan on Sunday inaugurated Pradhan Mantri Ujjwala Yojana here on Sunday.

Saudi assures India of no oil supply shortage: Oil Min

A massive drone strike on the world's largest crude-processing facility operated by Saudi Arabia's Aramco has driven up...

16 Sept 2019 7:17 PM IST

Oil marketing companies shares drop 13%. (PTI Photo)

Oil marketing companies shares drop 13%, after hike in excise duty on...

Hindustan Petroleum Corporation Ltd shares tanked 13 percent, Bharat Petroleum plunged 9.99 percent and Indian Oil...

7 May 2020 9:24 AM IST

Petrol sales down 61%, diesel 56.5% in April. (PTI Photo)

Petrol and diesel sales shrink in April; demand expected to pick up...

The demand is expected to further pick up as more areas were opened up on Monday

4 May 2020 4:11 PM IST