The International Energy Agency (IEA) estimates global oil demand to be highest in five years on weak oil prices. Global refining margins are up 30 per cent year-on-year (YoY)
Tag: gross refining margins
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Rise in GRM helps Essar Oil post profit
Thanks to a rise in gross refining margins (GRM), Essar Oil announced a profit of Rs 32 crore during Oct-Dec 2012 compared to a loss of Rs 3,986 crore in the year-ago period. During Oct-Dec, the firm reported an almost four-fold rise in the GRM to $ 9.75 per barrel compared to $2.82 per barrel in the year ago quarter. The company achi