Page 14 - Oil Marketing Companies

Rising under-recoveries to hit OMC profit even as crude prices rise: Report

In fiscal 2019, profitability of OMCs was hit as their average gross refining margin (GRM) declined by a third to $5.3 per barrel from $7.9 in fiscal 2017-18

State-owned oil companies move poll panel to allot 31,800 new fuel outlets

Ahead of announcement of poll schedule on March 11, the companies had already initiated the process by issuing LoIs to successful bidders for 2,579 locations on February 21

Oil PSUs retune brands to millennial mode, step up digital media presence

IOC, HPCL, BPCL engage with causes and products that appeal to the young environmentally aware consumer

Easier ECB rules: OMCs look to raise $1.4 billion in first tranche

On October 3, the RBI allowed the OMCs to raise dollars directly from overseas markets without a need for hedging

OMCs recover after two-day sell-off; HPCL jumps 6%, IOCL, Gail gain 4% each

MK Surana, chairman and MD of HPCL, said there is no permanent shift in the government policy and the current move is only a short-term intervention to cool off consumer prices.

Fuel price cut: Combined market capitalisation of OMCs sees 10% wipeout

Sharp impact likely on their earnings, with duty cut absorption to hit marketing margin

OMCs, aviation stks drop as crude rises; IndiGo, Jet Airways hit 52-wk lows

Shares of Hindustan Petroleum (HPCL) was trading two and a half per cent lower at Rs 242 while those of Indian Oil was down 1 per cent at Rs 153.5.

OMCs, fuel dealers battle it out over sharing of personal data of staff

Consortium of Indian Petroleum Dealers (CIPD) said the oil companies have threatened to choke supply, if they are not ready to provide sensitive data of their employees

As India's power supply improves, OMCs see drop in telcos' diesel demand

Sharing of tower infrastructure by telecom service providers has further led to a reduction in the fuel required to operate mobile towers

Oil companies offer subsidy to dealers to install solar rooftop systems

Dealers opting for the subsidy would be required to connect the maximum facility with the solar power system

State-owned OMCs' fortunes take a turn

Every 25 paise a litre decline in automobile fuel margin could alter analysts' FY19 earnings estimates for IOC, BPCL and HPCL by 5-10%

Oil firms float country's biggest ethanol purchase tender

Aim to buy 3.13 bn litres, valued at Rs 12,800 crore

OMCs take firm stand against dealers strike on Oct 13

While at one end, oil dealers across the country are gearing up to strike against the amendments in marketing discipline guidelines, the Maharashtra government has cut value added tax (VAT) on petrol as well as diesel, a week after the Centre took the plunge. Petrol in the state will be cheaper by Rs 2 and diesel by Re 1 per litre from Tuesday midnight. The move follows Central government which cut excise duty on petrol and diesel by Rs 2 last week.Oil Marketing Companies (OMCs) on the other hand have taken a firm stand against the strike planned by dealers on October 13, stating it totally unreasonable. Dealers are protesting the marketing discipline guidelines ammended by the oil marketing companies that has made penal action stringent for offences involving short delivery of products, operating automated retail units on manual mode and improper maintenance of toilets."There needs to be a reason for their (dealers) demand. We are not going to negotiate on the guidelines given out ..

OMCs may be asked to absorb fuel price hike; BPCL, HPCL, IOC tank up to 8%

BPCL and IOC were the top two losers on the Nifty

Fuel retailers look at revamp after entry of Rosneft

In addition to the revamp, BPCL is also offering discounts at some company-owned outlets

OMCs feel the heat of increasing competition

GST impact and pending merger of oil PSUs add to that concern

For state-run OMCs, deleveraging may have peaked

Dream run of declining net debt level for 3 state-run oil marketing companies has hit rock-bottom

Oil marketers take pause after reforms-inspired dream run

With refining margins at seven-month lows and demand remaining soft, concerns are rising

Oil marketing companies' stocks fall makes it more attractive to buy

Decline in refining margins in September quarter a blip; these are likely to rebound and support profit

Kerosene may not go the diesel way

The staggered increase in kerosene rate may not have the same impact of freeing up the fuel price as for diesel