Russia, India's largest investment destination in the oil and gas sector, already has $15 billion invested by Indian PSUs.

Petrol in the financial capital of Mumbai scaled to Rs 88.26, while diesel was priced at Rs 77.47. However, Parbhani, a city located in eastern Maharashtra, saw petrol touching the historic high of Rs 90.05 per litre.

Former Prime Minister Manmohan Singh said the Modi government has completely failed in keeping its promises to the people of India. \"The need of the hour is for different parties to set aside their differences and come together,\" he said.

Twenty-one Opposition parties led by the Congress are holding a nation-wide 'Bharat Bandh' today to protest against skyrocketing fuel prices. The normal life was thrown out of gear as protestors blocked roads and highways.

India's gas monopoly GAIL, is set to restructure operations and become a pure infrastructure provider.

The continuous hike in fuel prices has been attributed to a sharp rise in international crude prices and a dramatic fall in the exchange value of the rupee against the US dollar.

Wipro wins biggest ever contract, over $1.5 billionIndian software services exporter Wipro Ltd has won its biggest-ever contract worth more than $1.5 billion with U.S.-based Alight Solutions LLC for digital services as reported by Reuters. Wipro would earn $1.5-1.6 billion in revenues over the tenure of the deal, which will include services in health, human resources and finance.The deal is expected to be completed in the quarter ending September.  Income Tax dept to wait til...

Petroleum prices, which are determined by the cost of crude oil in global markets, may continue to go up as the international markets are under pressure due the US sanctions on Iran and Saudi Arabia's decision to cut oil production.

Admitting that there was a shortage of skilled human resources in the health sector at all levels, the health minister said the Centre has planned for a rapid expansion of medical education.

After keeping the fuel prices unchanged on Sunday, the OMCs hiked the petrol price the next day in the four metro cities by 9 paise each. The rate hike came after 15 days of price cut.

India, Iran's top oil client after China, shipped in 5.67 million tonnes or about 457,000 barrels per day of oil from the country in the first three months of this fiscal year.

India's oil ministry has asked refiners to prepare for a 'drastic reduction or zero' imports of Iranian oil from November, two industry sources said, the first sign that New Delhi is responding to a push by the United States to cut trade ties with Iran.

The Abu Dhabi firm on Monday signed a pact with Aramco, which in April entered an agreement with Indian oil companies to jointly develop the 1.2 million barrel per day Ratnagiri refining and chemicals complex.

The upcoming OPEC/non-OPEC Joint Ministerial Monitoring Committee meeting in Vienna on June 22 will play a major role in determining the trajectory of fuel prices here on.

The move by the state-controlled bank, India's biggest, comes after U.S. President Donald Trump pulled out of an international nuclear deal with Iran last month, pledging to reimpose tough sanctions within 180 days.

With the Cabinet approving the National Policy on Biofuels, there is renewed hope for a cleaner environment in the not-too-distant future.

As per the Indian Oil Corporation data, petrol and diesel prices have been slashed for the 13th consecutive day -- after it touched record high of Rs 78.43 on May 29 -- by over Rs 1.80, while diesel by Rs 1.38.

The diesel prices also dipped 15 paise in all metro cities, except Chennai where the prices dropped by 16 paise. In Delhi, diesel was priced at Rs 68.58, while Rs 71.13 in Kolkata and Rs 73.02 in Mumbai.

In last eight days, petrol price in the national capital has come down by 71 paise from its record high of Rs 78.43 on May 29. Before cutting the prices, oil marketing companies last month hiked the fuel cost for 16 consecutive days - from May 13 to May 29, petrol price was raised by Rs 3.8 and diesel by Rs 3.38 per litre.