Citibank has joined hands with IndianOil to offer ‘CitiBusiness’ with a target of achieving transactions worth Rs 400 crore by March next year. The reward programme is for small businesses and professionals. IOC and Citibank started their partnership in year 1997 with launch of co-branded fuel credit card. Citibank has over 1 million credit card users presently.

Public sector oil companies were missing a huge Rs 150 crore daily on the sale of petroleum products.

Sarthak Behuria, the IOC chairman, said Indian Oil Corporation alone lost Rs 80 crore each day.

Rejecting to mention the amount of hike hinted by the oil companies to counterbalance the loss, Mr. Behuria said it was for the Centre to resolve.

New Delhi: For supplying petrol and diesel, Mangalore Refinery & Petrochemicals Ltd (MRPL) has signed up a four-year agreement with Shell India Marketing Private Ltd. The products comprise all grades of MS and HSD grades.

According to MRPL’s press release the contract is extendable by another two years.

Mumbai: Dragged down by growing oil costs and import payments by refiners, the Indian rupee could relieve today.