Officials said the three firms have been making positive margins on petrol since the fourth quarter of the 2022 calendar year but diesel, which accounts for the bulk of the fuel sales, had been in red.
A gas tank has exploded at Hindustan Petroleum Corporation Plant in Unnao on Thursday.
ONGC holds 13.77 per cent stake in nation's biggest refiner IOC, which at today's trading price is worth over Rs 26,200 crore. It also holds 4.86 per cent stake in gas utility GAIL India Ltd, which is worth over Rs 3,847 crore.
ONGC will pay Rs 473.97 per share for 77.8 crore shares of the government in Hindustan Petroleum Corp Ltd (HPCL), the company said in a stock exchange filing.
New Delhi: State-run Indian Oil Corporation is the country's largest company in terms of revenue, followed by Reliance Industries and Bharat Petroleum in the second and third place respectively, according to the Fortune 500 list
New Delhi: Government today sanctioned Rs 17,772 crore cash subsidy to fuel retailers like IOC to cover for half of the revenues they lost on selling diesel and cooking fuels below cost in the September
New Delhi, June 1: State-owned oil companies on Thursday cut jet fuel price by two per cent, the fourth straight reduction in rates since April.The price of aviation turbine fuel (ATF), or jet fuel, in
New Delhi, Apr 2: State-owned oil companies today warned of disruptions in fuel supplies if they are not allowed to raise petrol price or compensated for the Rs 48 crore per day loss they incur
New Delhi, Mar 9: State-owned fuel retailers may not hike petrol and diesel prices till Assembly elections in five states are completed in May, even though their losses on auto fuel sales continue to mount.
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