State-run Oil Marketing Companies (OMCs) in Hyderabad and Ranga Reddy districts seem to have no clarity on how the cash transfer will take place for subsidized cylinders. Some industry sources feel that the finance ministry will transfer the amount to the respective oil companies who will then reimburse the amount in the individual bank acco
Category: Oil & Gas
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OMCs unsure on cash transfer for cylinders
State-run Oil Marketing Companies (OMCs) in Hyderabad and Ranga Reddy districts seem to have no clarity on how the cash transfer will take place for subsidized cylinders. Some industry sources feel that the finance ministry will transfer the amount to the respective oil companies who will then reimburse the amount in the individual bank acco
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Dual-pricing in diesel market creates leakages
Media reports suggest that the government's move to create dual-pricing system in the diesel market has created leakages with bulk buyers turning to retailers for taking advantage of lower prices. While oil marketing companies (OMCs) are allowed to charge market-determined price for bulk diesel buyers, they must charge a subsidised
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Dual-pricing in diesel market creates leakages
Media reports suggest that the government's move to create dual-pricing system in the diesel market has created leakages with bulk buyers turning to retailers for taking advantage of lower prices. While oil marketing companies (OMCs) are allowed to charge market-determined price for bulk diesel buyers, they must charge a subsidised
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Crude oil price rises in rupee terms
The depreciation of rupee against the US dollar caused the price of the Indian basked of crude oil to rise in rupee terms even though its price in dollar terms remained steady. The Indian rupee depreciated to Rs 53.68 per $ recently from Rs 53.57 per $ on Feb 8. Following this, the price of the Indian basket of crude oil i
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Crude oil price rises in rupee terms
The depreciation of rupee against the US dollar caused the price of the Indian basked of crude oil to rise in rupee terms even though its price in dollar terms remained steady. The Indian rupee depreciated to Rs 53.68 per $ recently from Rs 53.57 per $ on Feb 8. Following this, the price of the Indian basket of crude oil i
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OPEC slightly revises up oil demand forecast for 2013
The Organization of Petroleum Exporting Countries (OPEC) has marginally revised up the demand forecast for crude oil in 2013 to 89.68 million barrels per day from 89.55 mbd estimated a month ago. Estimated oil demand for 2012 is also revised up to 88.84 mbd from 88.80 mbd estimated in January by the organisation which accounts for about 35.0 percent of glob
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OPEC slightly revises up oil demand forecast for 2013
The Organization of Petroleum Exporting Countries (OPEC) has marginally revised up the demand forecast for crude oil in 2013 to 89.68 million barrels per day from 89.55 mbd estimated a month ago. Estimated oil demand for 2012 is also revised up to 88.84 mbd from 88.80 mbd estimated in January by the organisation which accounts for about 35.0 percent of glob
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Dependence of imported fuel prompts GGCL to hike CNG price
Gujarat Gas Company (GGCL) hiked the price of compressed natural gas (CNG) for all the consumers in Surat, Bharuch and Ankleshwar citing the increase in import dependence for the fuel. The price has been raised from Rs 51.95 per kilogram to Rs 56.30 per kilogram following the sharp increase in price
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Dependence of imported fuel prompts GGCL to hike CNG price
Gujarat Gas Company (GGCL) hiked the price of compressed natural gas (CNG) for all the consumers in Surat, Bharuch and Ankleshwar citing the increase in import dependence for the fuel. The price has been raised from Rs 51.95 per kilogram to Rs 56.30 per kilogram following the sharp increase in price