Oil Marketing Companies

Friday, Apr 19, 2024 | Last Update : 02:56 AM IST

Diesel price nears Rs 82 a litre after 15 paise increase. (PTI Photo)

Diesel price at record high in Delhi

Petrol prices on Sunday remained unchanged. Prices of petrol have remained static at Rs 80.43 per litre for almost four weeks

26 Jul 2020 3:23 PM

Oil marketing companies shares drop 13%. (PTI Photo)

Oil marketing companies shares drop 13%, after hike in excise duty on petrol, diesel

Hindustan Petroleum Corporation Ltd shares tanked 13 percent, Bharat Petroleum plunged 9.99 percent and Indian Oil dropped 7.49 percent

07 May 2020 9:24 AM

Petrol sales down 61%, diesel 56.5% in April. (PTI Photo)

Petrol and diesel sales shrink in April; demand expected to pick up this month

The demand is expected to further pick up as more areas were opened up on Monday

04 May 2020 4:11 PM

Following the attacks on the oil stablization centres of @Saudi_Aramco, top executives of Aramco have been contacted, tweeted Oil Minister Dharmendra Pradhan. (Photo: File)

Saudi assures India of no oil supply shortage: Oil Min

A massive drone strike on the world's largest crude-processing facility operated by Saudi Arabia's Aramco has driven up oil prices.

16 Sep 2019 7:17 PM

‘Oil marketing companies (OMCs) led by Indian Oil have stopped jet fuel supply at six airports,’ Air India Spokesperson Dhananjay Kumar had earlier said in a statement. (Photo: ANI)

Stoppage of fuel supplies due to shortage of funds: Air India Chairman and MD Lohani

‘It is because of overall shortage of funds, doesn't reflect on operational performance and recent efforts of airline,’ Ashwani Lohani said.

25 Aug 2019 3:57 PM

The airports where the fuel supply was stopped by the state-owned OMCs at around 4 pm are Cochin, Visakhapatnam, Mohali, Ranchi, Pune and Mohali, another official of the national carrier said. (Representational Image)

Oil companies stop fuel supply to Air India at 6 airports due to non-payment of dues

However, an official said the flight operations of the airline are currently normal and unaffected.

22 Aug 2019 8:25 PM

“The higher shareholder returns will put more pressure on the financial profiles of the companies, which have large investment plans for the next two years,” Fitch said. (Photo: File)

Fitch Ratings sees risks to OMCs as govt seeks more returns

Struggling to meet budget targets, the government had asked cash-rich PSUs to pay second interim dividend.

26 Apr 2019 2:26 PM

"The expansion in gas distribution networks is likely to increase gas consumption over the medium-to-long term, although industrial demand is likely to remain highly sensitive to prices," Fitch said.

City gas distribution rights to help oil marketing firms diversify: Fitch

IOC and HPCL won city gas distribution rights in nine geographical areas each last month, and BPCL got rights to two areas.

27 Mar 2019 7:08 PM

Brent crude, the oil prices international benchmark, fell 6.92 per cent to USD 62.17 a barrel.

Aviation, oil marketing cos rise on lower global crude oil prices

Shares of aviation and oil marketing companies surged up to 6 per cent on Wednesday.

21 Nov 2018 6:04 PM

The scrip of Indian Oil Corporation Ltd gained 5.54 per cent.

Shares of oil marketing cos jump up to 7.2 pc on easing crude prices

Brent crude prices fell 4.37 per cent, its biggest single-day fall in three months, to USD 76.24 barrel.

24 Oct 2018 6:26 PM

Petrol and diesel prices were cut for the fourth straight day on Sunday on softening international oil prices, providing some relief to consumers battered by two months of relentless rate hikes.

Petrol, diesel prices cut for fourth consecutive day

Petrol price was cut by 25 paise a litre and diesel by 17 paise.

21 Oct 2018 1:15 PM

Petrol has risen by 86 paise per litre since then and diesel by Rs 1.67, negating the entire excise duty reduction in less than a week.

Govt may not burden OMCs further with fuel subsidy

The market capitalisation of six large oil companies has falled by Rs 1.2 lakh crore.

12 Oct 2018 8:57 AM

Allaying concerns about the return of fuel subsidy regime, a top Finance Ministry official on Thursday said the government asking oil PSUs to subsidise petrol and diesel prices by Re 1 per litre was a "one-time thing" and it does not intend to ask them to do it again.

Govt will not ask oil companies to further subsidise fuel prices: official

While OMCs will continue to enjoy marketing freedom, upstream oil producers like ONGC would not be asked to share fuel subsidy burden.

11 Oct 2018 5:05 PM

The government on Friday cut excise duty on petrol and diesel by Rs 1.5 a litre, sacrificing Rs 10,500 crore revenue in the current financial year.

Fuel excise duty cut credit negative: Moody’s

Excise duty cuts on auto fuel reduce govt revenue and increase fiscal deficit by 0.1 pc to 3.4 pc of GDP in FY19.

10 Oct 2018 12:55 PM

For 2018-19, Rs 52,494 crore has been budgeted as dividend from all PSUs, which is lower than the Rs 54,810 crore revised estimates of 2017-18.

OMCs will continue to bleed as govt rules out dividend relief

Reduction in dividend from oil marketing companies, cut in subsidies, lesser disinvestment revenue.

10 Oct 2018 10:58 AM

The Indian government on Saturday sought to assure investors that the government would not go back to regulating fuel prices, a day after oil company shares tumbled on concerns about a return to a regime that has hurt their profits in the past.

Govt seeks to reassure markets on deregulation of fuel prices

Shares in the companies fell more than 20 per cent to multi-year lows on Friday before recovering marginally.

07 Oct 2018 11:45 AM

Hindustan Petroleum also fell to its 52-week low of Rs 165.45, down 25 per cent over its last closing price.

Stocks of oil marketing companies plunge to 52 week lows on fuel price cut

Govt's decision to curtail marketing margins on auto fuels by Rs1/litre brings to fore the earnings uncertainty for oil PSUs.

05 Oct 2018 12:02 PM

With the rupee continuing to touch new lows, the Reserve Bank on Wednesday allowed forex borrowings for working capital by oil marketing companies--the largest consumers of foreign currency--under the automatic route with immediate effect.

RBI allows oil marketing firms to raise USD 10 billion from overseas

OMCs will now be able to raise external commercial borrowing for working capital purposes.

03 Oct 2018 7:44 PM

Oil Minister Dharmendra Pradhan on Monday said as many as 5,000 plants for extracting biogas from agricultural residue, cattle dung and municipal solid waste are envisaged to be set up in the country in next five years at a massive Rs 1.75 lakh crore investment.

5,000 bio-gas plants at Rs 1.75 lakh cr investment in offing: Pradhan

Pradhan announced that state-owned fuel marketing companies will purchase all the bio-gas from these plants.

01 Oct 2018 2:30 PM

Reducing taxes is the best solution to check the spurt in fuel prices which would also tremendously help India on the exports front, industry body Assocham said on Friday.

Reduce oil duties to check fuel price rise, says Assocham

Over Rs 19 per litre is added to the cost on account of excise duty levied by the Centre.

08 Jun 2018 12:17 PM

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Mohan Guruswamy

oil marketing companies