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India, UAE Undertake First-Ever Crude Oil Transaction In Local Currency
The first-ever crude oil transaction under the newly implemented Local Currency Settlement (LCS) system took place on Monday between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited (IOCL).
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India's IOC Signs Multi-Billion Dollar LNG Import Deal With UAE Firm
India's top oil firm IOC has signed a USD 7-9 billion deal to import liquefied natural gas (LNG) from the UAE's ADNOC Gas plc for 14 years beginning 2026, the UAE company said.
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Bharat Petroleum To Raise Rs 180 Billion Amid Green Energy Push: Report
State-owned oil marketing company Bharat Petroleum said on Wednesday it approved raising up to 180 billion rupees ($2.19 billion) through an issue of equity shares on a rights basis underscoring India's push to achieve net zero-emissions goals.
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ONGC Signs Mega Pact With Indian Oil Corporation For Petrochemicals
India's top oil and natural gas producer ONGC has signed a mega pact with the nation's largest oil refining and fuel marketing company Indian Oil Corporation (IOC) for exploring opportunities in the petrochemicals business.
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Setback For Indian Shipping Firm Transporting Russian Oil: Report
Lloyd's Register has told India's Gatik Ship Management, which has become a major carrier of Russian oil since the Ukraine war, that it will withdraw certification of 21 of its vessels by June 3, the maritime services company told Reuters.
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French Oil Major Puts On Hold Adani Hydrogen Plan Until Audit
TotalEnergies' Chief Executive told reporters the company was waiting for the result of an audit launched by the Indian conglomerate in response to allegations of financial irregularities by Hindenburg Research.
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Indian Oil Chairman To Takeover Role Of Managing Director: Report
Most big listed companies are run by a managing director or CEO and a chairman presiding over the board of directors with the primary responsibility of protecting the interests of investors. But, India's largest oil company Indian Oil Corporation is an exception.
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"To Get Best Deal": S Jaishankar On Buying Russian Oil Amid Ukraine War
The government does not ask Indian companies to buy oil from Russia but it is a sensible policy to get the best deal in the interest of the Indian people, External Affairs Minister S Jaishankar said on Wednesday.
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US Sanctions Indian Company For Iran Oil Deal
A day after External Affairs Minister S Jaishankar's visit, the United States sanctioned an Indian company for purchasing Iranian petroleum and petrochemicals.
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Indian Refiners Pay Dollars For Russian Oil After Dirham Attempts Fail: Report
Indian companies are still buying Russian oil using dollars after Dubai's Mashreq Bank declined to handle payments from at least two refiners in Emirati Dirhams as requested by the supplier.
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Chennai Petroleum Corp Forms Joint Venture For $4 Billion Refinery
Chennai Petroleum Corp said on Tuesday it has formed a joint venture with its parent Company Indian Oil Corp and others for building the 9 MTPA refinery at a cost of 315.80
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No Cut In Petrol, Diesel Prices Despite Oil At 6-Month Low Because...
International oil prices have hit a six-month low, helping Indian fuel retailers breakeven on petrol but they continue to lose money on diesel - the most used fuel in the country, officials said.
-
Fuel Price Freeze To Hit Oil Companies' Profits: Fitch
The freeze on petrol, diesel and LPG price revision despite rising cost will hit profitability of state-owned Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd this fiscal, Fitch Ratings said on Wednesday.
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Crisis-Hit Sri Lanka Pursues Foreign Oil Firms Amid Acute Fuel Shortages
Sri Lanka canvassed oil companies in petroleum-producing nations on Tuesday to import and sell their products in the Indian Ocean island, opening its market to resolve acute shortages of fuel during its worst economic crisis in decades.
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Oil Marketing Firms Likely To Announce Rs 10,700 Crore Loss In Q1: Report
Indian Oil Corporation (IOC), Bharat Petroleum and Hindustan Petroleum may post a combined loss of Rs 10,700 crore in June quarter on selling petrol and diesel at rates below cost, a report said on Monday.
-
India, UAE Undertake First-Ever Crude Oil Transaction In Local Currency
The first-ever crude oil transaction under the newly implemented Local Currency Settlement (LCS) system took place on Monday between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited (IOCL).
-
India's IOC Signs Multi-Billion Dollar LNG Import Deal With UAE Firm
India's top oil firm IOC has signed a USD 7-9 billion deal to import liquefied natural gas (LNG) from the UAE's ADNOC Gas plc for 14 years beginning 2026, the UAE company said.
-
Bharat Petroleum To Raise Rs 180 Billion Amid Green Energy Push: Report
State-owned oil marketing company Bharat Petroleum said on Wednesday it approved raising up to 180 billion rupees ($2.19 billion) through an issue of equity shares on a rights basis underscoring India's push to achieve net zero-emissions goals.
-
ONGC Signs Mega Pact With Indian Oil Corporation For Petrochemicals
India's top oil and natural gas producer ONGC has signed a mega pact with the nation's largest oil refining and fuel marketing company Indian Oil Corporation (IOC) for exploring opportunities in the petrochemicals business.
-
Setback For Indian Shipping Firm Transporting Russian Oil: Report
Lloyd's Register has told India's Gatik Ship Management, which has become a major carrier of Russian oil since the Ukraine war, that it will withdraw certification of 21 of its vessels by June 3, the maritime services company told Reuters.
-
French Oil Major Puts On Hold Adani Hydrogen Plan Until Audit
TotalEnergies' Chief Executive told reporters the company was waiting for the result of an audit launched by the Indian conglomerate in response to allegations of financial irregularities by Hindenburg Research.
-
Indian Oil Chairman To Takeover Role Of Managing Director: Report
Most big listed companies are run by a managing director or CEO and a chairman presiding over the board of directors with the primary responsibility of protecting the interests of investors. But, India's largest oil company Indian Oil Corporation is an exception.
-
"To Get Best Deal": S Jaishankar On Buying Russian Oil Amid Ukraine War
The government does not ask Indian companies to buy oil from Russia but it is a sensible policy to get the best deal in the interest of the Indian people, External Affairs Minister S Jaishankar said on Wednesday.
-
US Sanctions Indian Company For Iran Oil Deal
A day after External Affairs Minister S Jaishankar's visit, the United States sanctioned an Indian company for purchasing Iranian petroleum and petrochemicals.
-
Indian Refiners Pay Dollars For Russian Oil After Dirham Attempts Fail: Report
Indian companies are still buying Russian oil using dollars after Dubai's Mashreq Bank declined to handle payments from at least two refiners in Emirati Dirhams as requested by the supplier.
-
Chennai Petroleum Corp Forms Joint Venture For $4 Billion Refinery
Chennai Petroleum Corp said on Tuesday it has formed a joint venture with its parent Company Indian Oil Corp and others for building the 9 MTPA refinery at a cost of 315.80
-
No Cut In Petrol, Diesel Prices Despite Oil At 6-Month Low Because...
International oil prices have hit a six-month low, helping Indian fuel retailers breakeven on petrol but they continue to lose money on diesel - the most used fuel in the country, officials said.
-
Fuel Price Freeze To Hit Oil Companies' Profits: Fitch
The freeze on petrol, diesel and LPG price revision despite rising cost will hit profitability of state-owned Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd this fiscal, Fitch Ratings said on Wednesday.
-
Crisis-Hit Sri Lanka Pursues Foreign Oil Firms Amid Acute Fuel Shortages
Sri Lanka canvassed oil companies in petroleum-producing nations on Tuesday to import and sell their products in the Indian Ocean island, opening its market to resolve acute shortages of fuel during its worst economic crisis in decades.
-
Oil Marketing Firms Likely To Announce Rs 10,700 Crore Loss In Q1: Report
Indian Oil Corporation (IOC), Bharat Petroleum and Hindustan Petroleum may post a combined loss of Rs 10,700 crore in June quarter on selling petrol and diesel at rates below cost, a report said on Monday.
