Page 11 - Oil Marketing Companies

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

IndianOil reports Rs 17,318 cr loss in Q4FY20 on inventory, demand issues

The company said due to Covid-19 and changes in the oil market scenario there was a significant fall in oil prices which led to a write down of Rs 6,855 crore in valuation of inventories below cost

Govt changes policy to distribute free cooking gas cylinders: Details here

Earlier, beneficiaries under the Pradhan Mantri Ujjwala Yojana (PMUY) were entitled to three free liquefied petroleum gas (LPG) cylinders effective April 1 to June 30 this year.

In 13 hikes, petrol price raised by Rs 7.11 per litre and diesel by Rs 7.67

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT

The fuel cash cow

Govt must ensure greater transparency in fuel pricing

In five straight hikes, petrol and diesel costlier nearly by Rs 3 per litre

In the national capital, the retail price of both petrol and diesel had increased by 60 paise per litre to Rs 74 and Rs 72.22 per litre respectively on Thursday

OMCs: Demand recovery, inventory gains, marketing margins to drive earnings

Over the last three-four days, OMCs have increased the per litre price of gasoline and diesel by a total of Rs 2.14 and Rs 2.23, respectively

In four hikes, petrol price increased Rs 2.14 per litre, diesel by Rs 2.23

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

HPCL delays $3 bn Vizag refinery expansion over labour, monsoon: Report

State-run refiner had initially planned to complete the Rs 209.28 billion expansion in July.

Fuel prices hiked for third straight day; petrol costlier by 54 paise

This is the third daily increase in rates in a row. Oil companies had on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus

OMCs go on digital drive during lockdown; govt sets March 2021 deadline

Though a step towards Digital India, the move is likely to have an impact on more than 80.3 million Pradhan Mantri Ujjwala Yojana (PMUY) consumers, majority of whom are not exposed to digital transact

Domestic sugar production, opening stock expected to be higher next season

With the malls and restaurants being allowed to open under unlock 1.0, the sugar demand will further rise.