Govt may offer ₹20,000 crore lifeline to Indian Oil, HPCL, BPCL2 min read . Updated: 12 Sep 2022, 05:29 PM IST
Indian Oil, HPCL, and BPCL have suffered the worst quarterly losses in years by absorbing record international crude prices
India plans to pay about ₹20,000 crore ($2.5 billion) to the state-run fuel retailers, such as Indian Oil Corp., to partly compensate them for losses and keep a check on cooking gas prices, according to people familiar with the matter.
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