According to media reports, sale of diesel to bulk customers declined about 40 percent in February, the first month after the government allowed oil firms to charge market price for bulk consumers. It may be noted that bulk diesel sales usually account for 18 percent of the 70 million tonne of diesel consumed in
Tag: OMCs
Post
Post
State-run OMCs to get notice from CCI on cartelisation probe
Soon state-run oil marketing companies (OMCs) - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -would receive notices on alleged cartelisation, said Ashok Chawla, Chairman of the Competition Commission of India (CCI). Speaking on the sidelines of a conference, Chawla said. the CCI has taken up the issue after the government clari
Post
Moody’s raises concern on IOC’s debt level
Moody's Investors Service warned about the record high level of borrowing of State-run refiner Indian Oil Corp and said its debt partially offset the improvement in margins of the company during October-December 2012 quarter. The company's borrowings at end-2012 increased to Rs 94,900 crore as against Rs 75,400 crore as of March 201
Post
Moody’s raises concern on IOC’s debt level
Moody's Investors Service warned about the record high level of borrowing of State-run refiner Indian Oil Corp and said its debt partially offset the improvement in margins of the company during October-December 2012 quarter. The company's borrowings at end-2012 increased to Rs 94,900 crore as against Rs 75,400 crore as of March 201
Post
Brokerage expects progressive hike in fuel prices
In a recent research note, securities firm Angel Broking said it expects the government to raise diesel prices progressively during the calendar year 2013 and 2014. This may reduce subsidy burden for state-run oil marketing companies (OMCs) and upstream oil companies, the note said. The brokerage further said that the recent hike in diesel price was in line with its expectations as government had permitted OMCs to make small price hikes in prices of dies
Post
Brokerage expects progressive hike in fuel prices
In a recent research note, securities firm Angel Broking said it expects the government to raise diesel prices progressively during the calendar year 2013 and 2014. This may reduce subsidy burden for state-run oil marketing companies (OMCs) and upstream oil companies, the note said. The brokerage further said that the recent hike in diesel price was in line with its expectations as government had permitted OMCs to make small price hikes in prices of dies
Post
State-run OMCs to get notice from CCI on cartelisation probe
Soon state-run oil marketing companies (OMCs) - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -would receive notices on alleged cartelisation, said Ashok Chawla, Chairman of the Competition Commission of India (CCI). Speaking on the sidelines of a conference, Chawla said. the CCI has taken up the issue after the government clari
Post
Moily stresses on fuel price hike
Union Oil Minister M Veerappa Moily underscored the need to raise prices of fuel in the domestic market given the huge payment for imports of crude oil into India. Speaking to reporters on the sidelines of the signing of a gas transmission agreement between GAIL (India) and Karn
Post
Moily stresses on fuel price hike
Union Oil Minister M Veerappa Moily underscored the need to raise prices of fuel in the domestic market given the huge payment for imports of crude oil into India. Speaking to reporters on the sidelines of the signing of a gas transmission agreement between GAIL (India) and Karn
Post
Industry body wants to retail fuel of private oil firms
Reports indicate that the Federation of All India Petrol Traders, which accounts for 42,000 of India's 45,000 pumps, seek permission to retail the fuel products of private oil marketing companies like Essar Oil, Reliance Industries (RIL). Right now, according to an agreement with state-run OMCs, these traders can market the fuel of only the thre