E-PaperOmc News
Petrol, diesel price cut to marginally hurt marketing earnings of OMCs; JM Financial maintains ‘Sell’ on IOC, HPCL
Fuel price cuts are likely to impact the gross marketing margins (GMM) of OMCs, which analysts see GMM declining to ₹2.2 per liter on diesel and ₹3.5 per liter on petrol, resulting in blended auto-fuel GMM of ₹2.6 per liter.
2 min read15 Mar 2024OMCs re-think expansion in natural gas retailing
HPCL said it is already dispensing CNG through 550 retail outlets as on date and plans to add CNG dispensing facilities at additional 150 Outlets this yearOMCs however, said that the rate of commission is being re-worked
2 min read3 Dec 2020Air India to raise ₹700-crore short term loan
The loan would carry a sovereign guarantee and lenders are required to submit their financial bids by 2 MarchThe funds will be used to repay certain dues to Air India's vendors
1 min read24 Feb 2020Coronavirus: Indian oil companies stare at inventory losses, low fuel margin
Virus outbreak in China has hit demand for crude oil and petroleum products, leading to a fall in global pricesCrude oil prices have fallen by around 10% in the last one month. Currently, it is at $59.20 per barrel
2 min read20 Feb 2020What to expect from the December quarter results of oil companies
OMCs are Bharat Petroleum Corp. Ltd, Hindustan Petroleum Corp. Ltd and Indian Oil Corp. LtdIn 2020, a recovery in refining margins and crude oil price movement will be the key factors to monitor
2 min read16 Jan 2020RBI push to de-risk banking sector chokes flow of funds to large PSUs
In January this year, HPCL signed a debt syndication agreement with a consortium of nine lenders led by SBI for its refinery project in BarmerLenders seek exemption from RBI to relax the large exposure framework requirements for state-run firms
4 min read25 Nov 2019Need to adopt cautious approach to avoid inviability of rise in outlets
Opening up the fuel retail sector may open the floodgates for investors, the government needs to adopt a cautious approach as opening an uncontrolled number of outlets may led to inviability of many existing as well as new outlets
2 min read12 Nov 2019Petrol, diesel price drop for 4th day today. Check latest rates here
Petrol was selling at ₹73.89 a litre, diesel at ₹67.03 a litre in Delhi after OMCs reduced prices by 12-16 paisa on SundayThe price of petrol in Delhi, Kolkata, Mumbai and Chennai is ₹73.89, ₹76.53, ₹76.50, and ₹76.74, respectively, after the price cut
1 min read6 Oct 2019No cashback for credit card users at petrol pumps from October
Banks will discontinue the cashbacks credit card users get on purchasing fuel at petrol pumps from 1 Oct after an advisory by OMCsHowever, cashback and discount for users of other digital payment methods will continue
1 min read25 Sep 2019India bracing for oil spike impact, in touch with Saudi Aramco
The oil price spike for India comes amid a slowing domestic economyA sudden increase in global prices will affect India’s oil import bill and its trade deficit
4 min read16 Sep 2019Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared