Mumbai, May 12 (IANS) India’s state-run oil marketing companies (OMCs) are staring at the possibility of their entire FY26 profits being wiped out if crude oil prices remain elevated, Petroleum Minister Hardeep Singh Puri warned on Tuesday amid escalating tensions in the Middle East.Speaking at the CII Annual Business Summit 2026 here, Puri said the ongoing energy crisis triggered by the conflict in the Middle East has sharply increased pressure on Indian fuel retailers, with oil marketing com…
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