Hindustan Petroleum Corp News

IOC along with Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.

Oil and Natural Gas Corp will take control of Hindustan Petroleum Corp as part of the government`s plan to create an integrated public sector oil entity.

Indian shares ended higher on Friday, posting a third straight session of gains, as lacklustre U.S. data helped ease investors` fears over the likelihood of an interest rate hike by the Federal Reserve next week.

Hindustan Petroleum Corp Ltd shut a unit at its 130,000 barrels per day (bpd) refinery in Mumbai last week due to a technical glitch, and has since been importing gasoline, the head of its refineries told Reuters on Friday.

India's Reliance Industries has been ranked 8th among top 10 global oil companies, according to a new survey released Thursday.

New Delhi: State-owned IOC, BPCL and HPCL have struck a temporary deal with Reliance Industries and Essar Oil to resume buying petrol and diesel from private refiners on revised terms.

 India will pay the second tranche of USD 700 million to Iran to clear part of past oil dues on Oct 12 since the dilution of trade sanctions by the US and five other world powers in July. In an accord, Iran had agreed to restrict its nuclear programme in  exchange of easing of sanctions, which had crippled its oil economy.    

India on Tuesday paid Iran USD 400 million to clear part of its past dues for crude oil its buys from the Persian Gulf nation and will pay another USD 500 million by the month end.

With CAG castigating state-owned fuel retailers for overcharging customers by Rs 26,626 crore over 5 years, Oil Ministry has defended the PSUs saying they had absorbed Rs 28,680 crore in losses on fuel sales during that period.