Page 3 - Omcs

Opaque subsidies

Govt control returns to the oil sector

Commercial LPG cylinder price cut by Rs 100, domestic stays same

A 19 kg LPG cylinder will cost Rs 1,680 in Delhi, Rs 1640.50 in Mumbai, and Rs 1,805.50 in Kolkata

OMC profits could reach Rs 1 trillion this financial year: CRISIL Ratings

This would be a significant rebound compared to the Rs 60,000 crore recorded between financial years 2017 and 2022 and the previous financial year low of Rs 33,000 crore

Results preview: OMCs to ride the low crude oil gravy train in Q1

City gas firms will see profits rise due to capped domestic prices, say analysts

OMCs rally up to 7% on improved outlook; HPCL, IOC scale 52-week highs

In the past one-year, shares of OMCs have risen between 18 per cent and 28 per cent on the back of a fall in crude oil prices. Brent crude prices have corrected 20 per cent in the past one year

Indian OMCs confident of retaining discounts on Russian crude oil

Before the war in Ukraine, Indian refiners had bought Russian oil rarely due to the high freight costs involved

Reasonably priced OMC stocks to gain as marketing margins may revive

Benign crude oil prices to improve margins; political considerations in the backdrop of forthcoming state and general elections are downside risks

TMS Ep454: India in AI race, oil prices, OMCs stocks, Giving Pledge

Can India catch up in AI tech development? Why are Indian oil companies not reducing prices? Is it a good time to invest in OMCs? What is the Giving Pledge? All answers here

Govt wants petrol & diesel prices slashed; OMCs cite Covid losses

Executives of state-owned firms disagree with view, say they are yet to make up for losses

OMC marketing earnings expected to rise in fourth quarter, say analysts

Blended marketing margins rose to a 10-month high of about Rs 2.5 per litre in December, multiple analysts said

Top headlines: After SC say on fraud, onus on banks, Adani Green under ASM

Business Standard brings you the latest headlines at this hour

OMCs get Rs 800 crore to set up over 7,000 fast-charging stations

The installation is expected to be completed by March 2024

Global banking crisis: Low prices to brighten prospects of OMCs

While prices sustaining lower levels is crucial, Govt actions are also a key monitorable given the forthcoming elections in 2024

Improving marketing margins, prices to restore OMC profits in FY24: Moody's

OMCs are likely to see weak earnings in current fiscal year despite fall in oil prices mainly because of losses they incurred on holding prices in the first half, Moody's Investors Service said

Operational losses of OMCs expected to shrink in Q3, say analysts

Public sector OMCs reported cumulative losses of Rs. 27,276 crore during the first six months of FY23

Petrol export by OMCs rise 142% between 2020-21 and 2021-22: Govt data

OMCs export surplus petrol and diesel to other countries only after meeting domestic demand in the country

OMC marketing margins improve in December after extended period of decline

Lower global crude prices, higher gross refining margins have driven overall marketing margins upwards

India's crude import basket at 10-month low but pump prices to remain high

Fear of worsening economic slowdown in China has dealt the latest blow to global crude oil, with daily prices falling to their lowest since January 4, 2022

Analysts see pressure on RIL, OMC's profitability amid firm oil prices

Their expectation is based on the recent action in October by the OPEC of cutting production by 2 million barrels per day. This suggests that the OPEC is looking to defend price, they said

PSU oil companies losing a net Rs 4 per litre on diesel: Hardeep Singh Puri

PSU oil companies are losing a net Rs 4 per litre on diesel while their margins have turned positive on petrol, Oil Minister Hardeep Singh Puri said on Wednesday on talks of a price reduction in the offing as international rates have softened. Puri said his ministry will seek assistance for the three fuel retailers - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) for the losses they incurred on holding petrol and diesel prices since the Ukraine war to help the government fight inflation. "OMCs (oil marketing companies) still have under-recoveries on diesel," he told reporters when asked if there is a price reduction in the offing. The three firms held prices despite international oil prices shooting up to more than a decade high. The under-recovery - difference between the retail selling price and the international rate - currently is about Rs 27 per litre on diesel but the actual cash loss (the loss based on the