Page 9 - Oil Marketing Companies

Refiners likely to add only a fourth of targeted petrol pumps in India

This move, which came just before the polls, was pitched as a step to create over one million jobs.

Despite fuel price cuts due to Covid-19, OMCs improve net marketing margins

The net marketing margin of OMCs on sale of petrol and diesel has increased to Rs 4 per litre by mid-September from Rs 2.23 per litre earlier as there has been correction in global auto fuel prices

Govt extends bidding deadline for BPCL by two months till Sept 30

The EoI submission deadline was May 2, but on March 31 it was extended up to June 13. On May 26, it was extended to July 31 and now it has been extended till September 30.

60% of Bharat Petroleum staff eligible for voluntary retirement scheme

Firm offers VRS ahead of privatisation

Govt plans to sell Bharat Petroleum Corp stake in time-bound manner

There were speculations that the deadline for submitting the expression of interest (EOI) might be extended further from the current date of July 31

Top Headlines: PM Modi woos US investors, relief for Voda Idea and more

Here are the top business headlines on Thursday morning

Oil marketing companies invite start-ups to deliver diesel at doorstep

The OMCs - Indian Oil, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation - have invited expressions of interest (EoIs) from start-ups that wish to be enrolled as FuelEnts.

Fitch affirms IOC at 'BBB-', outlook negative on refining volume, margins

The rating assigned to IOC is equal to its largest shareholder, the state of India, Fitch said in a statement.

Diesel prices hiked by 12 paise despite low demand, petrol unchanged

Diesel was priced at Rs 81.64 per litre on Monday in Delhi, higher than the previous level of Rs 81.52 a litre

India's fuel sales in June at 88% of pre-Covid levels, says govt

At 11.8 million tonnes of consumption, fuel demand in June was 88 per cent of 13.4 million tonnes consumption in June 2019.

J&K govt dispels speculations, says LPG stock order issued due to monsoon

The order issued by the department of Food and Civil Supplies in Kashmir asking oil marketing companies to stock up LPG cylinders for two months in the valley had sparked speculations on social media

Govt order asks OMCs to stock up LPG supply in Kashmir, sparks speculations

Describing the order as a 'matter most urgent', the director asked the oil marketing companies to make adequate stocks of LPG

Diesel crosses Rs 80-mark in Delhi for first time; petrol up by 16 paise

Diesel price continued to be higher in the city for the second consecutive day

IndianOil reports Rs 17,318 cr loss in Q4FY20 on inventory, demand issues

The company said due to Covid-19 and changes in the oil market scenario there was a significant fall in oil prices which led to a write down of Rs 6,855 crore in valuation of inventories below cost

Govt changes policy to distribute free cooking gas cylinders: Details here

Earlier, beneficiaries under the Pradhan Mantri Ujjwala Yojana (PMUY) were entitled to three free liquefied petroleum gas (LPG) cylinders effective April 1 to June 30 this year.

In 13 hikes, petrol price raised by Rs 7.11 per litre and diesel by Rs 7.67

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT

The fuel cash cow

Govt must ensure greater transparency in fuel pricing

In five straight hikes, petrol and diesel costlier nearly by Rs 3 per litre

In the national capital, the retail price of both petrol and diesel had increased by 60 paise per litre to Rs 74 and Rs 72.22 per litre respectively on Thursday

OMCs: Demand recovery, inventory gains, marketing margins to drive earnings

Over the last three-four days, OMCs have increased the per litre price of gasoline and diesel by a total of Rs 2.14 and Rs 2.23, respectively

In four hikes, petrol price increased Rs 2.14 per litre, diesel by Rs 2.23

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.