Fitch Ratings has warned that India's oil marketing companies (OMCs) could face significant credit pressure if crude oil prices remain elevated, leading to eroded earnings and increased working capital needs due to delayed fuel price pass-through.
The disgraced cricketer was taken to Jaipur on Tuesday as part of the probe into spot-fixing at the IPL, even as Rajasthan Royals chairman Ranjit Barthakur met with senior police officials in Delhi, a day after the IPL franchise filed a complaint against three of their erring players.
The former beat Indian Oil while the armymen accounted for Air India in the Ranjit Singh hockey tournament.
Delhi Police arrested a gas agency owner for allegedly hoarding and black marketing LPG cylinders, seizing 459 cylinders in a raid.
More than 500 filled LPG cylinders were allegedly stolen from a truck in Jhansi during the Holi festival, according to police reports.
Historically, India was a major buyer of Iranian crude, importing significant volumes of Iranian light and heavy grades due to strong refinery compatibility and favourable commercial terms.
Delhi Police have arrested a 61-year-old man and busted an illegal LPG refilling racket in southwest Delhi's Dabri area, seizing 17 cylinders.
Indian refiners are recalibrating their crude sourcing strategy due to supply disruptions in West Asia, leading to Venezuela and Brazil emerging as top five suppliers in April, replacing traditional sources like Iraq and the United States.
India offset the decline in exports to traditional destinations by sharply ramping up shipments to Jordan (18,086 per cent), Hong Kong (17,006 per cent), Spain (13,436 per cent), the Philippines (2,235 per cent), and Namibia (1,068 per cent) in H1FY26.
Replacing over a third of India's oil imports at competitive rates is going to be a challenge, said traders from State refiners, even though some progress was made in the last two months.
Aviation fuel prices for domestic airlines remain unchanged, providing stability for local carriers, while commercial LPG and 5-kg cylinders see a significant rate hike due to rising international energy costs.
Seven customers of Bharat Petroleum Corporation Limited (BPCL) in Indore have been booked for allegedly misappropriating over Rs 5.7 crore that was wrongly deposited into their digital wallets. Police are investigating how Rs 129.55 crore was incorrectly credited to around 1,000 BPCL 'Smart Fleet' customers.
A mining inspector and his team were allegedly attacked by a petrol pump owner, staff, and truck drivers during a checking drive against overloaded sand-laden vehicles in the Pipri area of Kaushambi, Uttar Pradesh.
India possesses two months of fuel stockpiles and faces no supply concerns despite global energy disruptions, according to Oil Minister Hardeep Singh Puri. However, state-run fuel retailers are incurring losses of up to Rs 1 lakh crore in a single quarter due to elevated crude prices and unchanged retail fuel prices, raising questions about the sustainability of these losses.
State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are reportedly incurring losses of Rs 18 per litre on petrol and Rs 35 per litre on diesel, as they continue to absorb rising crude oil costs without increasing retail prices. This situation is leading to expectations of a fuel price hike after upcoming state elections.
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The rated oil and gas companies, Fitch said, have a significant proportion of foreign currency-denominated debt.
The Haryana government is taking strict action against black marketing of cooking gas cylinders, registering FIRs and seizing hundreds of cylinders to ensure adequate supply for citizens.
Aviation Turbine Fuel (ATF) prices have more than doubled to a record high, impacting airlines and consumers, while commercial LPG rates also see a significant increase.
The Haryana government is taking strict action against individuals involved in the black marketing of cooking gas cylinders, resulting in multiple FIRs and the seizure of hundreds of cylinders.
S&P Global Ratings warns that Indian oil marketing companies like IOC, BPCL, and HPCL may face reduced profit margins due to rising crude oil prices and government pressure to maintain stable retail prices.
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
The Haryana government is taking strict measures to combat the black marketing of cooking gas cylinders, registering FIRs and seizing hundreds of cylinders. Officials assure citizens of sufficient LPG supply despite global concerns.
Petrol diesel price today March 20, 2026: IOCL & HPCL hike premium petrol (XP95, Speed, Power) by 2/litre and industrial diesel by 22/litre. Regular petrol in Delhi 94.77, diesel 87.67 unchanged. Full city-wise rates inside.
State-run oil-marketing companies (OMCs) are unlikely to significantly raise petrol and diesel prices despite crude oil nearing $100 a barrel, leading to potential margin pressure, while CLSA analysts project a 65 per cent upside for ONGC's stock.
Petrol diesel price today March 20, 2026: IOCL & HPCL hike premium petrol (XP95, Speed, Power) by 2/litre and industrial diesel by 22/litre. Regular petrol in Delhi 94.77, diesel 87.67 unchanged. Full city-wise rates inside.
Of the 1.32 trillion capex target for FY26, State-run oil firms have already spent 1.07 trillion in the first 10 months.
Nayara Energy, a private fuel retailer in India, has increased petrol and diesel prices following a surge in global oil prices due to Middle East tensions. This move contrasts with state-owned retailers who continue to freeze prices.
Private-sector oil refiner Reliance Industries Limited (RIL) last week received a general licence from the United States (US) government to buy Venezuelan oil, an industry executive said.
Two more Indian-flagged LPG tankers have begun their journey from the Persian Gulf, navigating the Strait of Hormuz amidst regional conflict, following disruptions caused by recent tensions in the Middle East.
A senior government official confirms that Indian vessels do not require permission to navigate the Strait of Hormuz, despite regional tensions. Several Indian ships, including LPG tankers, have safely crossed the strait, ensuring continued supply of essential commodities to India.
The Indian government has directed oil refineries to increase LPG production to ensure a stable supply of domestic cooking gas, amidst concerns over potential disruptions from the escalating Middle East conflict and its impact on imports.
West Asia conflict triggers sharp sell-off in Indian markets, with realty, banking and auto stocks leading losses amid energy shock fears.
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
AICC general secretary Sachin Pilot has accused Kerala Chief Minister Pinarayi Vijayan of following similar political approaches to Prime Minister Narendra Modi, alleging a tacit understanding between the CPI(M) and the BJP in Kerala.
'Nobody explained why. After that there was panic buying, there was hoarding -- and then nothing reached us.'
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
Traffic on the Mumbai-Pune Expressway resumed at 1.46 am after the damaged gas tanker was shifted from the accident site, an official said.
Going by the current market cap of Rs 83,451.15 crore, 7.33 per cent stake in BPCL is expected to be valued around Rs 6,117 crore.
An FIR has been filed against a gas agency in Lucknow for allegedly illegally storing domestic LPG cylinders and attempting to sell them on the black market.
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