Higher crude oil prices could pose near-term earnings risks for oil marketing companies, city gas distributors, paints, agro-chemicals, building materials and tyre firms, analysts said
The prospects for OIL and ONGC may improve - with volume growth, stronger gas realisations and delta from refining/downstream subsidiaries likely aiding consolidated earnings momentum, say analysts.
The crude was bought in two separate deals and will be co-loaded on a very large crude carrier to cut shipping costs, lifting India's Venezuelan imports to at least 6 million barrels through April