Indian Oil Corporation (IOC) is taking some stringent measures to weed out illegal customers of liquefied petroleum gas (LPG) or cooking gas in Gujarat. As part of these measures, the state-run oil marketing firm decided to block 4.7 lakh LPG consumer connections in the state for two reasons
Tag: oil marketing companies
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Infrascape 2013 | Opening up of FDI should improve investment
The oil and gas sector was once again marred by mounting under-recoveries with upstream public sector oil companies takĆĀing a hit of Rs 30,200 crore during April-September 2012 period, a 39 per cent rise in the burĆĀden compared with the same period last year.
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‘Cash transfers will aid for better working of oil, gas markets’
Three months after the government decided to cap the number of subsidised liquefied petroleum gas (LPG) cylinders and allowed oil marketing companies to raise diesel prices, Indian Oil Corp is finding the going tough. The companyĆās Chairman and Managing Director, RS Butola told a business newspaper that the cap and direct cash transfer are indicators of better-functioning markets.
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Gas consumption slides 3%, OMCs may cut LPG imports
Government-owned oil marketing companies are likely to reduce imports of liquefied petroleum gas (LPG) after the country's consumption slumped 3 per cent in November because of a recently-introduced cap on subsidised cooking gas cylinders, officials and industry executives said.
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Contracting opportunities for LPG
Market for Liquefied Petroleum Gas (LPG) in India is divided into two parts - industrial & commercial LPG and subsidised domestic LPG. Industrial & Commercial LPG is a more competitive business segment thn the domestic LPG as it has competition between oil marketing companies (OMCs) and parallel marketing companies (PMC).
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Contracting opportunities for LPG
Market for Liquefied Petroleum Gas (LPG) in India is divided into two parts - industrial & commercial LPG and subsidised domestic LPG. Industrial & Commercial LPG is a more competitive business segment thn the domestic LPG as it has competition between oil marketing companies (OMCs) and parallel marketing companies (PMC).
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State-owned OMCs asked not to invest on petrol pumps
According to a government order, which was approved by the Oil Minister M Veerappa Moily, henceforth state-owned oil marketing companies (OMCs) will not invest in opening of new retail outlets and the investment is to be made by prospective dealers only. The order further states that the state-owned OMCs can set up petrol pumps only when the dealer is willing bear the Rs 1-1.5 crore cost of a
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Rise in world oil prices dents margin of OMCs
Owing to the recent rise in the international petrol price and depreciation of rupee, the marketing margin of Oil marketing companies (OMCs) on every litre of petrol declined considerably. During the second fortnight of November, the average international price rose to $118.64 a barrel from $113.74 a barrel in the first fortnight. The dollar-rupee exchange has
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Opportunities in transportation of LPG
Liquefied Petroleum Gas (LPG) is a mixture of commercial butane and commercial propane having saturated and unsaturated hydrocarbons. It is gaseous at normal atmospheric pressure, but may be condensed to the liquid state at normal temperature, by the application of moderate pressures. Although they are normally used as gases, they are stored and transported as liquids under pressure for convenience and ease of handling.
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Opportunities in transportation of LPG
Liquefied Petroleum Gas (LPG) is a mixture of commercial butane and commercial propane having saturated and unsaturated hydrocarbons. It is gaseous at normal atmospheric pressure, but may be condensed to the liquid state at normal temperature, by the application of moderate pressures. Although they are normally used as gases, they are stored and transported as liquids under pressure for convenience and ease of handling.