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Oil PSUs to allot 65,000 petrol pumps ahead of general elections

Monday, November 26, 2018, 9:19 AM

Ahead of general elections, public sector oil companies plan to allot about 65,000 petrol pumps across the country to nearly double the existing retail network, officials said on Sunday. Indian Oil Corp (IOC), BPCL and HPCL on Sunday issued advertisements for setting up 55,649 petrol pumps across the country. Delhi has 390 petrol pumps and 170 more are to be set up, Bajpai said.
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India should reduce or stop crude oil import from Iran: Moody's

Thursday, September 27, 2018, 8:24 PM

Rating agency Moody's has estimated a decline of around $500 million in earnings for state-owned refiners Indian Oil, Bharat Petroleum and Hindustan Petroleum on account of substituting crude imports from Iran. Indian refineries, which import over 80% of crude oil, sourced about 14% of their imports from Iran. US sanctions on Iranian oil exports will take effect on November 5.
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