Page 12 - Oil Marketing Companies

Fuel supply to Air India stopped at six airports due to non-payment

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

Used cooking oil may fuel cars as OMCs look to procure biodiesel

Several food chains - including McDonald's, KFC, Burger King, and Haldiram - have started supplying to bio fuel firms

Govt plan of opening over 78,000 petrol pumps is uneconomical, says Crisil

In November last year, PSU oil marketing companies advertised to open 78,493 more petrol pumps in the country. This on top of 64,624 fuel retail outlets currently operating in the country

Tax dept, OMCs locked in dispute over excise duty, oil firms served notice

The matter will be taken up by the concerned adjudicating authority, according to officials in the know

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