‘Oil cos losing Rs 1,000 crore a day’: Hike in prices imminent, hints Petroleum minister Hardeep Singh Puri | India News

NEW DELHI: Petroleum minister Hardeep Singh Puri on Tuesday said public sector oil marketing companies may not be able to sustain daily losses of Rs 1,000 crore from selling petrol and diesel below market price, in a strong indication that pump prices are set to rise in the coming days.“They’re taking a loss to insulate […]

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Indian refiners purchase Iranian oil, pay in yuan

New Delhi: Using the one-month window provided by a temporary US sanctions waiver, Indian refiners purchased Iranian oil and settled payments in Chinese yuan, people aware of the development said on Friday. Iran insists on payment in Chinese yuan for oil to bypass US-led financial sanctions that restrict its access to the dollar-dominated global banking […]

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