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RIL, ONGC, Cairn, Oil India beneft from rupee fall
August 21, 2013August 21, 2013by In Oil & Gas

RIL, ONGC, Cairn, Oil India beneft from rupee fall

While the rupee fall against dollar is a bad news to oil and gas consumers in the country, the same is a boost to the earnings of ONGC, Cairn India, Reliance Industries and Oil India. The dollar-linked price of oil and gas has risen about 17 per cent in four months. This is a bad news for oil and gas consumers in the country as they have to pay more for the essential petro products. India imports 80 per cent of crude oil, it processes and pays in dollars.