Ajay Bansal, General Secretary of the Federation of All India Petroleum Traders (FAIPT) said the body requested oil marketing companies (OMCs) to define who are the bulk consumers of diesel. The federation asked OMCs to issue clear written instruction supported by the government notification defining who are bulk consumers
Tag: retail
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Oil marketers to buy ethanol from sugar mills
Oil marketing companies (OMCs) plan to procure ethanol from sugar mills in order to blend it with petrol and in this regard they invited bids for 105 crore litre of ethanol from domestic and global suppliers in the sugar year ending October 2013. Of the 55 crore litre offered by Indian sugar mills, 11 crore litre is finalized as this volume was offered at the lowest
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OMCs to discuss plans to increase LPG distributors
M Nene, Director (Marketing) of Indian Oil Corporation (IOC) informed that oil marketing companies (OMCs) would discuss with the union oil ministry their plans to raise the number of LPG distributors. OMCs feel the need to increase the number of distributors across the country, going by the 2011 census. Indian Oil Corporation alone has 6,000 distributors as of now and the firm plans to raise it to 7,000
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OMCs ask Kerala govt to forgo sales tax
State-run oil marketing companies (OMCs)
Indian Oil Corporation and Hindustan Petroleum Corporation argued that Kerala government must forgo the sales tax of Rs 12 imposed on a litre of diesel. The oil companies argued this in response to a petition filed by the Kerala State Road Transport Corporation (KSRTC) in the state High Court against these comp
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Private refiners warn that they may export fuel
Private sector oil refining companies warned that they would export their diesel and Liquefied Petroleum Gas (LPG) instead of selling them to the local state-run oil marketing companies (OMCs). The warning comes in response to the finance ministry's proposal to calculate domestic fuel price based on Export Parity Price (EPP) instead of the curr
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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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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
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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
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OMCs post losses during Apr-Dec 2012 period
Even though state-run oil marketing companies (OMCs) announced profit during the quarter ending December 31, 2012, they posted losses on a nine-month period between Apr-Dec 2012. This is because the government did not make timely payment of subsidy amount to these firms (in the Apr-Jun 201