India has surplus refining capacity, but there has been maintenance at some plants and petrol demand has risen after a cut in diesel subsidies increased the attractiveness of petrol cars.
Country's banking sector, dominated by more than two-dozen state-run lenders, has been hobbled by its highest bad-loan ratio in a decade as slower economic expansion hurt companies' ability to ser...
The delisting plan had already been approved by National Stock Exchange. Essar Oil, a unit of diversified Essar Group, was given the BSE green light on Wednesday, the sources said.
Indian Railways, the country's biggest diesel guzzler, consumes up to 2.5 million tonnes of the fuel each year. Until last year, it received supplies from state refiners who used to be compensated...
BPCL chairman S. Varadarajan said the refinery will be expanded to 156,000 barrels per day at a cost of about $472 million.
A slump in global crude oil prices has driven most countries to slash spending on exploration and production.
The extension will help India receive its crude imports from Tehran in Iranian vessels, while exports of non-oil commodities and industrial goods are largely handled by vessels operated by Hafez D...
Two sources with knowledge of the deal said discussions between the two sides over the 400,000 barrel per day (bpd) refinery began in December, when Essar signed a deal to buy 200,000 bpd oil from...
A government official said there had been no change in the ban and that Cairn India might simply be trying to establish a price for its oil via the tender process ahead of negotiations to sell it ...
Prime Minister Narendra Modi's Cabinet will soon consider the deal which would also require raising the authorised capital of the subsidiary ONGC Videsh (OVL) by half to Rs 15,000 crore, said thre...
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