Page 7 - Oil Marketing Companies

OMCs under pressure; HPCL, BPCL hit 52-week lows, IOCL slips 3%

OMCs are likely to remain under pressure with the industry integrated gross margins trending towards zero despite the Russian discounted crude cushion, said analysts.

Indian oil firms to compensate ethanol makers for higher energy costs

Indian state fuel retailers have agreed to provide monetary relief to sugar mills and other producers of ethanol to compensate for high energy costs to boost biofuel production

Petrol pump dealers not to buy from OMCs today to demand higher commission

Petrol Pump Dealers Association said its members in 22 states will join the protest

TN fuel outlets won't buy from OMCs on May 31 in protest against centre

Tamil Nadu Petroleum Dealers Association in a statement said that the reduction in the fuel prices by the Central government led to dealers losing Rs 3 lakh to Rs 15 lakh

GAIL's Rs 1,083 crore buyback offer kicks off: Should you tender shares?

The company has prescribed a buyback ratio of 2 shares for 25 equity shares for reserved category whereas 2 shares for 179 equity shares for general category.

Distressing times await metals and OMCs

The govt has levied duties on steel exports to curb inflation. But it came as a setback for the metal and oil marketing companies. Find out the impact of this policy decisions and the sector outlook

OMCs might require to further raise fuel prices: Fitch Ratings

Fitch cited that robust core refining margins as well as windfall inventory gains should allow OMCs to mitigate potential marketing losses in the near term

Mumbai, Kandla ports clog as OMCs clamour for select ports for LPG imports

This subsidy is not available for imports done at other ports and so there is a clamour to get the ships only at these ports, four industry sources with direct knowledge of the matter said

Small, frequent spikes in fuel prices to dent consumption, challenge growth

Freight rates on grand trunk routes have shot up 3-4 per cent month-on-month in the past few days, according to the Indian Foundation of Transport Research & Training (IFTRT)

Sugar mills again allege OMCs differentiating in ethanol purchase tie-ups

The OMCs, on their part, according to earlier reports, said that there is no preference in awarding contracts for supply of ethanol

Petrol and diesel prices hiked for first time in over four months

Up 80 paise a litre; domestic gas cylinder now dearer by Rs 50

Sensex rebounds 1,059 pts from day's low, ends 697 pts up; RIL leaps 2.5%

CLOSING BELL: Tech M, Tata Motors, BPCL, ITC, JSW Steel, PowerGrid, Bajaj Auto, Infosys, TCS, Bajaj Finserv, Bharti Airtel, Wipro and IndusInd Bank were the other gainers

Slipping on oil prices

Dual diesel rates will be distortionary

Ukraine crisis: Oil prices surge as US and Britain cut off Russian crude

Britain said it will phase out the import of Russian oil and oil products by 2022

Crude oil price spike likely to trigger interest in ethanol programme

According to officials, India has managed to blend almost 9.34 per cent ethanol with petrol in the first quarter of the 2021-22 supply year, which started in December

Huge decline in domestic gas subsidy borne by Centre in 3 years: RTI

The RTI reply revealed that in 2018-19, three state-run OMCs paid Rs 37,585 crore as subsidy, which came down to only Rs 2,706 crore in FY22 till December, Kolarkar told PTI

BPCL hits 52-week low on likely delay in divestment, soaring oil prices

Even if OMCs are not made to share any under-recovery, the continued pricing intervention would make it utterly difficult to divest government's stake in BPCL, Motilal Oswal said in its report

India on course to blend minimum 10% ethanol in 2021-22: Trade sources

Blending crossed 8.93% on Feb 16; trade sources say to achieve the 10% mark, 4.37 bn litres of ethanol are required of which 4.20 bn litres have already been offered via tenders and finalised by OMC

Moody's expects OMCs' margins to improve over 12-18 months on higher demand

'We expect the regional refining benchmark to average around $3-4/bbl over the next 12-18 months, balancing our expectations of demand recovery alongside incoming capacity additions,' says Moody's

Top headlines: 'OMCs' margins to improve'; 1st phase of UP polls tomorrow

Here are the top headlines on Wednesday