Mumbai, May 24 (IANS) State-owned Life Insurance Corporation of India (LIC) has emerged as the highest profit-making company in India’s financial sector during the January-March quarter of FY26, reporting a net profit of over Rs 23,400 crore.The insurance giant also retained its top position among Central Public Sector Enterprises (CPSEs) in terms of quarterly profit during the fourth quarter of FY26.LIC last week reported a 23 per cent rise in consolidated net profit to Rs 23,420 crore for th…
Latest Indian Oil Corporation News & Updates
New Delhi, May 23 (IANS) There is no overall shortage of petrol and diesel in the country and outages reported at some retail outlets are “highly localised” and temporary, Indian Oil Corporation (IOC) said on Saturday.These small outages are caused by regional demand-supply mismatches and shifting sales patterns, the IOC said in a statement. The company is closely monitoring the situation and taking adequate measures to address these isolated situations and ensure uninterrupted fuel supplies to …
New Delhi, May 19 (IANS) Prime Minister Narendra Modi’s visit to the United Arab Emirates has assumed major strategic significance as India and the Gulf nation signed key energy agreements at a time of rising geopolitical tensions and volatile oil markets triggered by the US-Israel conflict with Iran.The UAE visit marked the first leg of PM Modi’s five-nation tour, which will also take him to the Netherlands, Sweden, Norway and Italy.Analysts said the timing of the visit reflected India’s …
Jaipur, May 19 (IANS) Rajasthan witnessed the second hike in petrol and diesel prices within a week on Tuesday, as petroleum companies increased petrol rates by around 94 paise per litre and diesel by approximately 91 paise per litre. Following the latest revision, petrol prices in Jaipur have risen to Rs 108.91 per litre, while diesel is now being sold at Rs 94.14 per litre.The fresh increase comes just four days after fuel prices were hiked by Rs 3 per litre on May 15, intensifying concerns ov…
New Delhi, May 19 (IANS) State-run oil marketing companies on Tuesday raised petrol and diesel prices for the second time in less than a week amid soaring global crude oil prices.Following the latest revision, petrol became costlier by 86 paise per litre and diesel by 83 paise per litre.In the national capital, petrol prices rose to Rs 98.64 per litre, while diesel prices increased to Rs 91.58 per litre.The increase comes days after oil firms raised petrol and diesel prices by Rs 3 per litre on …
Mumbai, May 18 (IANS) Transport Minister and Maharashtra State Road Transport Corporation (MSRTC) Chairman, Pratap Sarnaik, on Monday said that State Transport (ST) buses remain an essential public transit service for citizens in rural areas, and maintaining this service while ensuring financial stability is a key challenge ahead for the corporation.Against the backdrop of rising fuel costs, a proposal for a passenger fare hike is under consideration; however, fares will not be increased immedia…
Jaipur, May 15 (IANS) Petrol and diesel prices have been sharply increased by oil companies with the revised rates coming into effect from Friday night. Following the hike, petrol in Jaipur is now being sold at Rs 107.97 per litre. Meanwhile, Sri Ganganagar has recorded the highest petrol price in Rajasthan, with rates reaching Rs 109.46 per litre.Diesel prices in the district have also climbed to Rs 94.74 per litre. The increase is being linked to the continued rise in crude oil prices in the i…
New Delhi, May 15 (IANS) As oil marketing companies (OMCs) face mounting losses amid the ongoing West Asia crisis, they raised petrol and diesel prices by Rs 3 per litre each on Friday.The revised rates came into effect immediately across the country. In Delhi, petrol prices rose by Rs 3.14 per litre to Rs 97.77, while diesel became costlier by Rs 3.11 per litre.Meanwhile, amid the Middle East crisis, oil companies have also raised CNG prices. Effective Friday, the price of CNG has increased by …
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…
New Delhi, May 11 (IANS) State‑owned oil marketing companies warned of rising cases of LPG delivery scams in which fraudsters impersonate official gas delivery services to extract One‑Time Passwords and Delivery Authentication Codes.Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation and Bharat Petroleum issued advisories on social media about cyber fraud targeting domestic LPG consumers with fake SMS and WhatsApp messages mimicking delivery notifications. These messages a…