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Subsidy policy to hit OMCs

Subsidy policy to hit OMCs

Oil marketing companies’ (OMC) profitability and cash flows will continue to be strained on account of uncertainty over the future subsidy sharing pattern.

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OVL races for oil block

OVL races for oil block

An unknown company has outbid ONGC Videsh’s bid to buy Exxon Mobil’s 25 per cent stake in a deep-sea oil block in Angola.