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Street realigning to the new scenario for oil marketing companies

Many more price hikes though required to return to positive margins; moderate valuations offer some comfort

Oil refineries, OMCs, oil marketing companies

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3 min read Last Updated : Mar 23 2022 | 11:57 PM IST

It may be time to review and re-rate the impact of the Ukraine war upon the Indian oil refining and marketing companies (OMCs). Fossil fuel prices are stratospheric and India imports over 50 per cent of its gas and 85 per cent of its crude oil.

Two oil marketing PSUs, Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation (HPCL) have recently bought around 5 million barrels of crude from Russia at discounted rates. Since India

Topics : Indian Oil Corporation OMCs

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