Oil Firm

IOC reported a 81 per cent drop in June quarter net profit, as refinery and marketing margins fell and the firm booked under-recovery on the sale of domestic cooking gas LPG at government-controlled rates.

The government has scrapped the Rs 30,000 crore equity infusion it had planned in state-owned fuel retailers after they made record profits in the fiscal year ended March 31, according to the Budget Finance Minister Nirmala Sitharaman presented today

India's crude oil imports rose in December on firm demand, data from Petroleum Planning and Analysis Cell (PPAC) showed on Monday.

The oil leak from a defunct heavy fuel power plant in Manipur's Leimakhong on Wednesday happened allegedly after "incidents of theft and burglary" at the abandoned facility, according to a police complaint filed by the Manipur State Power Co. Ltd.

The US state of California sued five of the world's largest oil companies on Friday, alleging the firms caused billions of dollars in damages and misled the public by minimising the risks from fossil fuels, according to a court filing.

The Rupee depreciated for the fourth straight day and settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.

The trial is set to be the biggest in Swedish history, following a 13-year probe, a more than 80,000-page investigation report, and with closing arguments scheduled for February 2026.

India's top oil firm IOC on Friday reported a net profit of Rs 13,750 crore in three months to June 30 - the highest in a decade - as margins on petrol and diesel turned positive on softer oil prices.

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.

The rupee declined by 9 paise to close at 82.04 (provisional) against the US dollar on Monday amid geopolitical concerns and firming crude oil prices.

Petroleum Minister Hardeep Singh Puri said on Saturday that oil companies will be in a position to look at the issue of reducing petrol and diesel prices if the international crude cost remains stable and these firms have a good next quarter.

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.

Two Gujarat firms have made bumper profits from Russian oil imports, selling them to the European Union at exorbitant rates, the Trinamool Congress has alleged.

The Centre today asked edible oil companies to cut the prices of cooking oils in line with the fall in global prices for the benefit of consumers.

The rupee appreciated 15 paise to close at 81.91 (provisional) against the US dollar on Monday as a firm trend in domestic equities and easing crude oil price boosted investor sentiments.

IOC reported a 81 per cent drop in June quarter net profit, as refinery and marketing margins fell and the firm booked under-recovery on the sale of domestic cooking gas LPG at government-controlled rates.

The government has scrapped the Rs 30,000 crore equity infusion it had planned in state-owned fuel retailers after they made record profits in the fiscal year ended March 31, according to the Budget Finance Minister Nirmala Sitharaman presented today

India's crude oil imports rose in December on firm demand, data from Petroleum Planning and Analysis Cell (PPAC) showed on Monday.

The oil leak from a defunct heavy fuel power plant in Manipur's Leimakhong on Wednesday happened allegedly after "incidents of theft and burglary" at the abandoned facility, according to a police complaint filed by the Manipur State Power Co. Ltd.

The US state of California sued five of the world's largest oil companies on Friday, alleging the firms caused billions of dollars in damages and misled the public by minimising the risks from fossil fuels, according to a court filing.

The Rupee depreciated for the fourth straight day and settled 9 paise lower at its lifetime low of 83.22 (provisional) against the US dollar on Thursday amid a firm American currency and elevated crude oil prices.

The trial is set to be the biggest in Swedish history, following a 13-year probe, a more than 80,000-page investigation report, and with closing arguments scheduled for February 2026.

India's top oil firm IOC on Friday reported a net profit of Rs 13,750 crore in three months to June 30 - the highest in a decade - as margins on petrol and diesel turned positive on softer oil prices.

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.

The rupee declined by 9 paise to close at 82.04 (provisional) against the US dollar on Monday amid geopolitical concerns and firming crude oil prices.

Petroleum Minister Hardeep Singh Puri said on Saturday that oil companies will be in a position to look at the issue of reducing petrol and diesel prices if the international crude cost remains stable and these firms have a good next quarter.

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.

Two Gujarat firms have made bumper profits from Russian oil imports, selling them to the European Union at exorbitant rates, the Trinamool Congress has alleged.

The Centre today asked edible oil companies to cut the prices of cooking oils in line with the fall in global prices for the benefit of consumers.

The rupee appreciated 15 paise to close at 81.91 (provisional) against the US dollar on Monday as a firm trend in domestic equities and easing crude oil price boosted investor sentiments.