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Sensex ends higher for third session; oil refiners gain

Sensex ends higher for third session; oil refiners gain

Indian shares ended higher on Friday, posting a third straight session of gains, as lacklustre U.S. data helped ease investors` fears over the likelihood of an interest rate hike by the Federal Reserve next week.

IOC, BPCL clinch deal with RIL, Essar to restart diesel buy

IOC, BPCL clinch deal with RIL, Essar to restart diesel buy

New Delhi: State-owned IOC, BPCL and HPCL have struck a temporary deal with Reliance Industries and Essar Oil to resume buying petrol and diesel from private refiners on revised terms.

Oil diplomacy: Pradhan to visit Mozambique next month

Oil Minister Dharmendra Pradhan is likely to visit Mozambique next month to press the African nation to quickly ratify a law that will help Indian firms proceed with multi-billion dollar gas project.

BPCL plans Rs 23,000-cr capacity expansion at Bina refinery

Bharat Petroleum Corp Ltd (BPCL) plans to more than double capacity of its Bina refinery in Madhya Pradesh to 15 million tonnes at a cost of about Rs 23,000 crore.

Petrobras and Videocon JVfind more oil in Brazil

Brazil`s state-run oil company Petroleo Brasileiro SA and its Indian partners have found more light crude oil in the Sergipe Basin off Brazil`s Northeast coast, according to a securities filing on Thursday.

Fuel cos absorbed Rs 26.6K cr losses on sales in 5 yrs: OilMin

With CAG castigating state-owned fuel retailers for overcharging customers by Rs 26,626 crore over 5 years, Oil Ministry has defended the PSUs saying they had absorbed Rs 28,680 crore in losses on fuel sales during that period.

Technology deal for Kochi petchem plant in 2-3 months: BPCL

Bharat Petroleum Corp has decided to buy outright the critical technology to make specialty chemicals and expects to conclude a deal over the next few months, after its efforts to get a technology partner for Rs 5,000-crore petchem project in Kochi did not materialise.

Monthly diesel price hikes likely to continue

"There is no reason why the monthly increases should be discontinued. They will continue till under-recoveries (losses) on diesel are wiped out," Oil Ministry official said.

Loss on diesel sale down at Rs 4.41 a litre

The loss on sale of diesel has fallen to Rs 4.41 per litre, helped by Rs 1.09 per litre hike and strengthening of the rupee against the US dollar.

Loss on diesel sales falls to Rs 5.49 per litre

The loss on sale of diesel has been trimmed by 44 paise to Rs 5.49 a litre after appreciation in the value of the rupee made imports cheaper.

Loss on diesel sales declines to Rs 7.16 a litre

The loss on sales of diesel has been trimmed by more than Re 1 to Rs 7.16 per litre on the back of softening international oil rates.

Govt sanctions Rs 17,772 crore cash subsidy for oil companies

Government Thursday 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 quarter.

Credit Suisse upgrades BPCL to 'outperform'

The investment bank says current share price reflects export parity pricing implementation, which should provide a floor to valuations.

Losses on diesel sales at record Rs 14.50 a litre

Indian Oil Corp (IOC), Hindustan Petroleum Corp (HPCL) and Bharat Petroleum Corp (BPCL) are losing Rs 486 crore per day as they are made to sell diesel, domestic LPG and kerosene way below cost to keep inflation under check.

Fuel sales losses likely to come down to Rs 84,475 cr in FY14

Indian Oil Corp (IOC), Hindustan Petroleum Corp (HPCL) and Bharat Petroleum Corp ( BPCL) lost Rs 1,61,029 crore in 2012-13 on sale of diesel, domestic LPG and kerosene at government controlled rates, which are way below market price.

Loss on diesel sales mounts to Rs 19.26 a ltr

Diesel as well as domestic cooking gas (LPG) and kerosene prices have not been raised since June last year even though cost of production has jumped nearly 28 percent.