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State-run OMCs avoid hedging oil purchase
May 10, 2013May 10, 2013by In Oil & Gas

State-run OMCs avoid hedging oil purchase

State-run oil marketing companies (OMCs) avoid hedging their spot purchase of crude oil from the global market as it may work in either ways. This was mentioned in the recent report of the standing committee on petroleum and natural gas submitted to the Parliament recently. The report quoted Bharat Petroleum Corporation (BPCL) Chairman as saying that state-run oil firms, which undergo stringent audit by CAG, don't want to take the risk o