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OIL MARKETING COMPANIES NEWS
Call on petrol, diesel price cut needs to be thought through ‘very coolly’ by OMCs, says Puri
March 10, 2024 8:28 am
Indicating that the OMCs are not fully out of the woods yet in terms of profitability on fuel sales, Petroleum Minister Hardeep Singh Puri said that they are still incurring under-recoveries on diesel sales, but did not quantify it.
How AI overtook oil in the global market
March 02, 2024 10:24 am
With Nvidia’s rise, are GPUs the new oil of our time?
Oil refiners look for more term contracts amid uncertain market
July 18, 2023 10:22 pm
In April, India’s largest refiner IOC signed a major term contract with Russian oil major Rosneft. Although IOC did not disclose the supply volume under the contract, a Reuters report said that it was close to 1.5 million tonnes a month.
OMCs set to buy discounted oil from Russia; no sanctions, says US
March 17, 2022 12:41 am
Despite a fall in oil prices over the past week, price of Brent crude has risen around 29 per cent since the beginning of the year, amid concerns about stable supply of oil and gas.
Sugar industry protests OMC 'injustice' to them
December 10, 2021 8:19 am
One of the main objections that the industry has raised is the preferential treatment given by the OMCs for ethanol produced from maize as a feedstock over sugarcane.
Global-local divide in fuel: OMCs making up for ‘under recoveries’
August 21, 2021 7:51 am
Industry sources told The Indian Express that Oil Marketing Companies (OMCs) might be withholding part of the benefit from the fall in international prices to compensate for under recoveries during earlier periods.
OMCs reluctant to sign EOI with ethanol manufacturers
August 20, 2021 10:11 am
Ethanol - the fuel additive - is promoted by the Central government as a solution to excess sugar produced and in reducing fuel imports.
Diesel sales record uptick for first time since Oct 2020
April 02, 2021 5:28 am
Sales of the two fuels had crashed in March 2020 as the government imposed travel restrictions to control the spread of Covid-19.
Oil companies to pay for ethanol boost to sugar industry
December 12, 2014 12:08 pm
The new mechanism basically removes uncertainty with regard to both pricing and supply.
Decontrol further
October 20, 2014 12:13 am
Deregulation of diesel prices isn’t enough. Now open up to all players, address LPG subsidy
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