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Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

Despite U.S. Pressure, Iran No. 2

State firms that buy oil from Iran include MRPL, Indian Oil and HPCL.

24 July 2018 5:59 AM IST

Hindustan Petroleum Corp Ltd (HPCL) on Friday reported 56 per cent drop in the June quarter net profit on account of lower refining margins and inventory losses.

HPCL-MRPL merger hits cash hurdle; ONGC rules out share-swap

ONGC, India's biggest oil and gas producer, last year completed acquisition of Hindustan Petroleum Corp Ltd for Rs...

28 April 2019 2:15 PM IST

Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

Indian refiners turn to OPEC, Mexico, US to make up Iran oil gap

Refiners have not yet placed orders for Iranian oil for May, when current waiver expires, pending clarity from US.

17 April 2019 4:55 PM IST

Visiting Venezuelan Foreign Minister Jorge Arreaza said in New Delhi on Monday that Venezuela wants trade with India in oil and other commodities such as food and medicines to be conducted in Indian Rupees and not in US Dollars. (Representational image)

India to pay in rupees for Iranian oil

India had planned to import about 25 million tonnes of crude oil from Iran in the current fiscal.

20 Sept 2018 6:29 PM IST