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The two Asian nations are the biggest consumers of the precious metal.
This is the first time since 1984 that a single party has won majority in India’s 543-member parliament.
The counting exercise being held at 989 counting centres is likely to be completed by 11:30 GMT and the initial trends will be available by 5:30 GMT.
551.3 million people have voted in the parliamentary elections making it the largest ever electoral exercise.
Studies from several countries have shown that fuel subsidies are regressive and ineffective in terms of protecting the poorest.
Results are expected for all the 543 seats of the lower house of the Indian parliament on 16 May.
US senators in Washington who say this could “squander” the “American competitive advantage”.
China’s state-run China National Offshore Oil Corporation (CNOOC) has moved an oil rig into the waters to which both Beijing and Hanoi lay contesting claims.
On completion of the deal, OIL will be able to book 50 per cent of production and reserves from Licence 61.
Ukraine's security services said 30 "heavily armed" militants had been killed in recent days as part of the "anti-terrorist" operation in the region.
