Indian Oil Corporation alone lost Rs 80 crore (Rs 800 million) per day, the company's Chairman Sarthak Behuria said.
Oil marketing companies decrease distribution & production of fuel brands after huge drop in demand.
Ten of top 15 companies in 1991 were PSUs; now, there are only six. Their revenue share has also fallen from 86% to 45%
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
This is the second increase in rates of petrol this month while in case of diesel it wipes away a part of the hike effected earlier this month
IOC protests, says have invested in these facilities over a period of time.
If you are pressed for time, you could eat, shop, as well as service your car, or fill up diesel or petrol.
Four persons were arrested for allegedly shouting pro-Islamic State slogans at a rally in Rajasthan's Tonk district, the police said on Sunday.
Interview with chairman, Vedanta.
Next phase of rise will unlikely be a combined exercise from the three oil marketing companies.
India has already pipped Japan as the world's third-largest oil consumer.
ONGC Videsh Ltd and its partners Indian Oil Corporation and Oil India Ltd had in 2009 dropped plans to develop the Binaloud oil find in the Farsi offshore block as it found one billion barrels of reserves commercially unviable.
The list of companies skipping dividends in FY19 includes some of the country's largest firms and industry leaders such Tata Motors, Avenue Supermart, Future Retail and Vodafone Idea, among others.
In the next quarter, the country will also start gearing up for various Assembly elections could put the government as well as the OMCs under pressure
In September, issue of new LPG connections had been put on hold pending a massive nationwide exercise to eliminate multiple connections
However, unlike cellular services where consumers have the option to switch between different mobile companies, LPG consumers would have the limited option of changing only their dealers, not the oil company.
Expecting oil prices to remain under pressure, Fitch Ratings said deregulation of diesel prices in October will help in lowering the under-recoveries (which is nothing but international petroleum prices minus the subsidised retail rates).
Indian Oil Corporation will fund restoration of the Sun temple at Konark in Orissa, Minister for Tourism and Culture Ambika Soni said on Tuesday.
Rohit, who didn't make it to the playing XI in the two-Test series in the West Indies, could be given another opportunity to revive his Test career, with the selectors looking towards him opening the innings.
The dealers are protesting against the use of petrol pumps for government campaigns and seeking of personal data of over a million people working there
To help them make up for the revenue lost on selling auto and cooking fuel below cost.
The government had in January authorised state-owned oil firms to hike diesel prices by small doses of up to 50 paisa per litre every month.
Diesel in Mumbai costs Rs 79.72 per litre at IOC outlets and Rs 79.79 at BPCL outlets.
Two persons were killed in the major fire in storage tank number four of Indian Oil Corporation terminal in Hazira , Surat, which was contained after a 21-hour operation by the fire brigade team, officials said Sunday.
The former beat Railways 1-0 while PSB blanked Chandigarh 2-0 in the Super League of the National hockey championship.
Punjab and Sind Bank will take on Services in the first Super League match of the 62nd Senior\nNational Hockey Championship at the Surjit hockey stadium in Jalandhar on Saturday.
A rise in international oil prices and depreciation in rupee have necessitated a Rs 1.40 per litre increase in price of petrol with effect from midnight tonight, said a statement by Indian Oil Corporation.
The bomb was kept in a bag in front of the gate of the refinery in Noonmati area of the city, police said.
The Rs 3-trillion West Coast or Nanar refinery has all the potential to become India's flagship petrochemicals project, with the planet's largest oil producer Saudi Aramco as its biggest shareholder. Yet the locals don't see the plant as a harbinger of better times.
In the Fortune 500 list of Indian companies, 83 are owned by the government, 370 are private sector firms and 47 are foreign owned.
Apart from this, state refiners are looking at optimising crude oil inventory levels without in any way affecting fuel supplies in the domestic market.
The oil companies will meet on Friday for the review meeting on pricing in which petrol price could be increased by Re 1 and diesel prices by 50 paise by this weekend.
IOC has asked consumers to book LPG refill through IVRS or SMSes so that refills reach genuine users.
Petrol price has been reduced four times since March.
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