oil marketing companies

News

OIL MARKETING COMPANIES NEWS

Preventing further fall in rupee a key imperative of FY27: Chief Economic Advisor Nageswaran

May 12, 2026 4:55 pm

The comments by the government’s top economist come the same day the Indian rupee hit a fresh all-time low of 95.75 per dollar. Since the West Asia war began, the rupee has slumped by almost 5% against the US dollar.

Hyderabad: People queue up at a petrol pump in large numbers amid rumours of fuel shortage in the wake of the West Asia conflict, in Hyderabad, Telangana, Tuesday, March 24. 2026. (PTI Photo) (PTI03_24_2026_000298B)

Two months of oil and fuel stocks in place, month of LPG supply 'firmly arranged': Govt

March 27, 2026 2:07 am

The war in West Asia and the consequent disruption in global energy supplies from the region has impacted India’s oil and gas imports.

Call on petrol, diesel price cut needs to be thought through ‘very coolly’ by OMCs, says Puri

March 10, 2024 8:28 am

Indicating that the OMCs are not fully out of the woods yet in terms of profitability on fuel sales, Petroleum Minister Hardeep Singh Puri said that they are still incurring under-recoveries on diesel sales, but did not quantify it.

How AI overtook oil in the global market

March 02, 2024 10:24 am

With Nvidia’s rise, are GPUs the new oil of our time?

Oil refiners look for more term contracts amid uncertain market

July 18, 2023 10:22 pm

In April, India’s largest refiner IOC signed a major term contract with Russian oil major Rosneft. Although IOC did not disclose the supply volume under the contract, a Reuters report said that it was close to 1.5 million tonnes a month.

OMCs set to buy discounted oil from Russia; no sanctions, says US

March 17, 2022 12:41 am

Despite a fall in oil prices over the past week, price of Brent crude has risen around 29 per cent since the beginning of the year, amid concerns about stable supply of oil and gas.

Sugar industry protests OMC 'injustice' to them

December 10, 2021 8:19 am

One of the main objections that the industry has raised is the preferential treatment given by the OMCs for ethanol produced from maize as a feedstock over sugarcane.

Covid-19 India Second Wave, fuel, petrol, diesel, petrol prices today, petrol consumption india, diesel prices today, diesel consumption in India, india news, indian express

Global-local divide in fuel: OMCs making up for ‘under recoveries’

August 21, 2021 7:51 am

Industry sources told The Indian Express that Oil Marketing Companies (OMCs) might be withholding part of the benefit from the fall in international prices to compensate for under recoveries during earlier periods.