Oil Companies
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Tamil Nadu CM Vijay slams fuel price hike by Centre, seeks immediate rollback citing burden on poor
Tamil Nadu | May 15, 2026, 08:17 PM ISTHe also raised concerns over the timing of the price hike, suggesting it came immediately after the conclusion of Assembly elections in five states, calling the move politically insensitive.
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US sanctions two major Russian oil companies in bid to pressure Kremlin over Ukraine war
World | Oct 23, 2025, 08:06 AM ISTSecretary of the Treasury Scott Bessent said the action followed Russian President Vladimir Putin’s refusal to agree to a ceasefire with Ukraine. Bessent added that the US could take additional measures to help bring an end to 'yet another' war.
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Fuel prices set to decrease as oil companies hike commission paid to petrol pump dealers
Business | Oct 30, 2024, 06:02 AM ISTThis is the first revision in commission paid to dealers in nearly eight years. The dealer commission revision has happened following the withdrawal of the court cases.
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Petrol, diesel prices reduced: Check new rates in your city
India | Mar 15, 2024, 10:18 AM ISTPetrol and diesel prices have been reduced by Rs 2 across the country. The new rates will be effective from March 15, 6 am onwards.
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Oil firms losing Rs 3 per litre on diesel, profits on petrol shrink
Business | Feb 07, 2024, 06:35 PM ISTOil companies have refrained from adjusting petrol, diesel, and cooking gas prices for nearly two years, leading to losses when input costs were higher and profits when raw material prices were lower.
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Finance Minister Nirmala Sitharaman defers equity support to oil companies to next fiscal year
Business | Feb 02, 2024, 07:09 AM ISTThe equity support was intended to aid the Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation in their energy transition projects.
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Budget 2024: Government trims budget support for oil firms, defers filling strategic oil reserves
Business | Jan 27, 2024, 10:30 AM ISTThe initial announcement by Finance Minister Nirmala Sitharaman in the FY24 budget consisted of Rs 30,000 crore for equity infusion and Rs 5,000 crore for crude oil purchases.
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Is petrol, diesel price cut happening? Oil minister Hardeep Singh Puri responds
Business | Jan 04, 2024, 10:53 AM ISTAmid the softening of the global crude oil price, there were reports that the government may make a price cut in the petrol, diesel prices in the coming days.
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Petrol, Diesel price may be cut by up to Rs 10 in coming days, say sources
India | Dec 29, 2023, 11:04 AM ISTPetrol, Diesel Price: The government is in talks with oil companies as it mulls to reduce the price of petrol and diesel in the coming days. Crude oil prices globally have also become cheaper.
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LPG price hike: 19-kg commercial gas cylinder price hiked by Rs 209, say sources
Business | Oct 01, 2023, 12:17 AM ISTOil Marketing Companies have increased the price of 19 kg commercial LPG gas cylinder by Rs 209. The new prices will come into effect from today, sources informed.
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India, UAE make first-ever crude oil transaction in Rupees and Dhirams a month after PM Modi visit
World | Aug 15, 2023, 03:08 PM ISTAccording to the Indian Embassy in Abu Dhabi, the UAE’s Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited (IOCL) made their first-ever crude oil transaction in national currencies.
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HPCL Q1 results: Oil company reports record loss of Rs 10,196 cr - here's why
Business | Aug 06, 2022, 09:18 PM ISTHPCL Q1 results: Indian Oil Corporation (IOC) too reported a net loss of Rs 1,992.53 crore for the June quarter.
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14 killed as militants ambush convoy of oil, gas workers in Pakistan
World | Oct 16, 2020, 07:57 AM ISTMilitants ambushed a convoy of oil and gas workers escorted by paramilitary troops in Pakistan’s restive southwestern province of Baluchistan, killing 14 people, including 7 soldiers.
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OPEC, oil nations agree to nearly 10M barrel cut amid coronavirus
World | Apr 13, 2020, 07:10 AM ISTOPEC, Russia and other oil-producing nations on Sunday finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said
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Fuel payment issues with oil PSUs will be resolved early: Air India
Business | Oct 13, 2019, 02:43 PM ISTThe airline also "assured" its customers of smooth operations, saying it has taken all the measures in the eventuality of the two sides failing to reach an understanding on the issue.
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Pay monthly, or face fuel cut at 6 airports: Oil cos to Air India
India | Oct 10, 2019, 09:13 PM ISTIssuing an ultimatum to Air India, PSU oil majors on Thursday asked it to make the monthly lump sum payment by October 18 or they will stop the fuel supply at six major airports, according to an official document.
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'High crude prices hurting global growth', PM urges oil producers to bring down rates to 'reasonable levels'
Business | Oct 15, 2018, 07:02 PM ISTThe prime minister flagged concerns of consuming nations like India over high crude oil prices that have already sent retail petrol, diesel and LPG rates to record highs, sources with direct knowledge of the development told PTI.
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PM Modi to brainstorm oil scenario with global CEOs today
Business | Oct 14, 2018, 11:59 PM ISTThe third annual meeting would also deliberate on ways to revive investment in oil and gas exploration and production, official sources said.
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PM Modi brainstorms with top global, Indian oil chiefs to revive investment, production
Business | Oct 09, 2017, 03:29 PM ISTThe main theme of the meeting, sources said, was to seek investment in exploration and production, processing, transportation and distribution network in oil and gas
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Govt's plan to merge 13 PSUs to create oil giant not good for consumers, pvt retailers: Report
Feb 07, 2017, 06:22 PM ISTFinance Minister Arun Jaitley in his Budget for 2017-18 proposed to merge some of the 13 state oil firms to create an integrated public sector oil major.