In order to immunize the finances of Indian Railways from the diesel price hike, industry body Assocham asked government to allow the public sector undertaking to import and refine its own crude oil. By importing and refining crude oil by itself, the Indian Railways can avoid paying about 20-25 percent sales and other local taxes on diesel. The Railways, run as a
Tag: refinery
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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
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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
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Essar Oil may maintain GRM on par with RIL
Analysts feel that the gross refining margin (GRM) of Essar Oil would continue to match that of Reliance Industries (RIL) as the former has increased the complexity of its refining units. Essar Oil raised its refinery capacity to 405,000 barrels per day from 300,000 previously and its com
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Essar Oil may maintain GRM on par with RIL
Analysts feel that the gross refining margin (GRM) of Essar Oil would continue to match that of Reliance Industries (RIL) as the former has increased the complexity of its refining units. Essar Oil raised its refinery capacity to 405,000 barrels per day from 300,000 previously and its com
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Profit of HPCL falls despite rise in operating income
The total operating income of Hindustan Petroleum Corp (HPCL) rose 11 per cent during October-December 2012 period to Rs 53,424 crore. However, the profit of the state-run refiner declined sharply to Rs 147 crore, from Rs 2,725.18 crore in the year-ago period because of a spike in costs and lower com
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Profit of HPCL falls despite rise in operating income
The total operating income of Hindustan Petroleum Corp (HPCL) rose 11 per cent during October-December 2012 period to Rs 53,424 crore. However, the profit of the state-run refiner declined sharply to Rs 147 crore, from Rs 2,725.18 crore in the year-ago period because of a spike in costs and lower com
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Petrofed warns against shifting to export parity pricing
The Petroleum Federation of India (Petrofed), an apex body of entities in hydrocarbon sector, warned the union finance ministry against its proposed norm for calculation of under-recoveries of state-run oil marketing companies (OMCs). Recently, the finance ministry proposed that the export parity price should be considered for calculating under-recoveries of OMCs instead of the present trade parit
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Essar Oil set to replace rupee loan with dollar ones
Reports suggest that Essar Oil plans to raise dollar loans in order to repay some of its rupee loans in order to benefit from the interest differential between these two loans. According to media reports, the company plans to swap rupee loans worth $2.2 billion or Rs 11,700 crore with dollar loans
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Essar Oil set to replace rupee loan with dollar ones
Reports suggest that Essar Oil plans to raise dollar loans in order to repay some of its rupee loans in order to benefit from the interest differential between these two loans. According to media reports, the company plans to swap rupee loans worth $2.2 billion or Rs 11,700 crore with dollar loans