Page 12 - Oil Marketing Companies

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.

ATF price follows global trend; up 56.5% to Rs 33,575 for June first half

14.2-kg LPG cylinder costlier by Rs 11.5; while ATF prices are revised once in 15 days, LPG prices change on a monthly basis

Opportunity in crisis: 5 sectors that may gain from coronavirus pandemic

As India moves to open up the country, investors look at sectors that have been resilient. Puneet Wadhwa charts sectors that are expected to do well in the next few months

OMCs tank as govt raises excise duty on petrol, diesel; HPCL, BPCL dip 10%

The price hike will be absorbed by oil marketing companies against the fall in crude prices.

Market Ahead, May 6: Top Factors That Could Guide Markets Today

Today, a total of six companies, including YES Bank and Kansai Nerolac Paints, are set to declare their quarterly numbers

Soft crude oil prices to lower working capital requirement of OMCs

According to CARE Ratings, the impact of a fall in crude oil price owing to the coronavirus (Covid-19) pandemic on the domestic downstream sector would not be as severe as it is on the upstream sector

Speed up delivery of free cylinders to PMUY beneficiaries: Pradhan

Under the Pradhan Mantri Garib Kalyan package, over 80 million PMUY beneficiaries are eligible to get three free cylinders over the next three months

Oil firms float finished fuel products on Arabian Sea as demand slumps

They're running out of storage space on land and their refineries are running only at 50% of capacity; US Oil futures touch an unprecedented negative pricing

OMCs on stronger wicket, oil producers stare at losses as crude plunges

Refiners like Reliance Industries may also see inventory losses adding pressure on already weak refining margins

Bharat Petroleum divestment process begins amid coronavirus lockdown

Assam gives NOC for sale of 61.65% stake in Numaligarh Refinery, a BPCL subsidiary