Page 11 - Oil Marketing Companies

Oil marketing companies continue to hold petrol, diesel price rise

OMCs have gone on a pause mode at a time when the news of successful coronavirus and expectations of big pick up in demand had kept crude on the boil with prices breaching $ 50 a barrel mark

Telecom to oil firms: Q2 results give no clear sign of broad revival

The economy is on the mend but sustained recovery will take time: that's the picture you get by studying the July-September quarter results of 1,286 listed companies. Devangshu Datta reads the numbers

Diwali keeps oil companies from revising petrol, diesel retail prices

The good news for consumers is that global prices has fallen back to $ 42 a barrel from a level of over $ 45 a barrel reached early this week.

No change in petrol, diesel rates even as global oil prices soften

Global crude prices have remained around $40 a barrel

Demand for petrol and diesel back to normal, jet fuel remains tepid

Diesel purchases went up for first time this financial year in October 1-15 period. Consumption of diesel was up 8.8%, of petrol by 1.5% YoY

OMC stocks come under pressure over muted demand, weak refining margins

Rising Covid-19 cases in India and talks of a second wave of the pandemic globally are adding to concerns on demand for petroleum products moving forward

New entrants unlikely to impact gas distrbution players till FY23

The draft regulations requires the CGD players to provide third-party access at regulated tariffs

Refiners likely to add only a fourth of targeted petrol pumps in India

This move, which came just before the polls, was pitched as a step to create over one million jobs.

Despite fuel price cuts due to Covid-19, OMCs improve net marketing margins

The net marketing margin of OMCs on sale of petrol and diesel has increased to Rs 4 per litre by mid-September from Rs 2.23 per litre earlier as there has been correction in global auto fuel prices

Govt extends bidding deadline for BPCL by two months till Sept 30

The EoI submission deadline was May 2, but on March 31 it was extended up to June 13. On May 26, it was extended to July 31 and now it has been extended till September 30.

60% of Bharat Petroleum staff eligible for voluntary retirement scheme

Firm offers VRS ahead of privatisation

Govt plans to sell Bharat Petroleum Corp stake in time-bound manner

There were speculations that the deadline for submitting the expression of interest (EOI) might be extended further from the current date of July 31

Top Headlines: PM Modi woos US investors, relief for Voda Idea and more

Here are the top business headlines on Thursday morning

Oil marketing companies invite start-ups to deliver diesel at doorstep

The OMCs - Indian Oil, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation - have invited expressions of interest (EoIs) from start-ups that wish to be enrolled as FuelEnts.

Fitch affirms IOC at 'BBB-', outlook negative on refining volume, margins

The rating assigned to IOC is equal to its largest shareholder, the state of India, Fitch said in a statement.

Diesel prices hiked by 12 paise despite low demand, petrol unchanged

Diesel was priced at Rs 81.64 per litre on Monday in Delhi, higher than the previous level of Rs 81.52 a litre

India's fuel sales in June at 88% of pre-Covid levels, says govt

At 11.8 million tonnes of consumption, fuel demand in June was 88 per cent of 13.4 million tonnes consumption in June 2019.

J&K govt dispels speculations, says LPG stock order issued due to monsoon

The order issued by the department of Food and Civil Supplies in Kashmir asking oil marketing companies to stock up LPG cylinders for two months in the valley had sparked speculations on social media

Govt order asks OMCs to stock up LPG supply in Kashmir, sparks speculations

Describing the order as a 'matter most urgent', the director asked the oil marketing companies to make adequate stocks of LPG

Diesel crosses Rs 80-mark in Delhi for first time; petrol up by 16 paise

Diesel price continued to be higher in the city for the second consecutive day