Diesel prices retailed at an all-time high on Friday. In Delhi, diesel clocked a record high of Rs. 65.31. In Kolkata, diesel rates were at Rs 68.01, in Mumbai at Rs. 69.54 and in Chennai at Rs. 68.9. Petrol prices were also recorded at a 55-month high.
Indian Oil has set a target of holding 570 LPG panchayats on Ujjwala Diwas, being observed on April 20, across the northeastern states.
India’s state-run oil retailers have been asked not to increase retail diesel and gasoline prices and absorb a part of the losses due to the recent recovery in global crude oil, people with knowledge of the matter said.
Indian Oil Refiners Are Investing Rs 30,000 Crore For Upgrading To BS VI Technology: SSV Ramakumar, IOC
India has just launched the high efficiency BS VI grade of petrol and diesel in a bid to cut vehicular emissions. However, However, the improved fuel quality will have a marginal impact on emissions until the launch of the complimentary BS VI compliant automobile engines
Shares of state-owned oil refiners rose 1-5% as prices of crude oil in the global markets fell on Monday. The prices fell after latest data showed that crude oil output in the US is expected to rise this year.
A few Indian oil companies performed well for the three months ended December. The others were lacklustre.
Union Petroleum Minister Dharmendra Pradhan today formally launched the Rs 3,110 crore residue upgradation project of Indian Oil Group company, Chennai Petroleum Corporation Ltd, here.
After witnessing a gradual hike yesterday, petrol and diesel prices in India were cut on Tuesday at 2 paisa per litre each in metro cities despite global crude extending gains.
Indian Oil Corp Ltd said its third-quarter profit nearly doubled, handily beating estimates. Net profit surged 97 per cent to Rs. 7,883 crore ($1.24 billion) in the quarter ended December 31, from Rs. 3,995 crore a year earlier.
Indian Oil Corporation (IOCL) gained 5% to Rs 419 on BSE in intra-day deal after the company’s board recommended bonus shares in the ratio of 1:1 i.e. one equity share for one exiting equity share held.