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Oil marketing companies incur Rs 4,403 cr loss
August 28, 2013August 28, 2013by In Oil & Gas

Oil marketing companies incur Rs 4,403 cr loss

Union Minister of State for Petroleum & Natural Gas Panabaaka Lakshmi on August 27 told the Rajya Sabha that State-run oil marketing companies have reported a combined loss of Rs 4,403 crore in April-June quarter of the current financial year. But, the three marketing firms - Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp managed 'meager profits' in previous financial years only after factoring in cash compensations provided by the government and discount on crude oil offere