Oil Marketing Companies

The company has prescribed a buyback ratio of 2 shares for 25 equity shares for reserved category whereas 2 shares for 179 equity shares for general category.

Distressing times await metals and OMCs

The govt has levied duties on steel exports to curb inflation. But it came as a setback for the metal and oil marketing companies. Find out the impact of this policy decisions and the sector outlook

Fitch cited that robust core refining margins as well as windfall inventory gains should allow OMCs to mitigate potential marketing losses in the near term

This subsidy is not available for imports done at other ports and so there is a clamour to get the ships only at these ports, four industry sources with direct knowledge of the matter said

Freight rates on grand trunk routes have shot up 3-4 per cent month-on-month in the past few days, according to the Indian Foundation of Transport Research & Training (IFTRT)

The OMCs, on their part, according to earlier reports, said that there is no preference in awarding contracts for supply of ethanol

Up 80 paise a litre; domestic gas cylinder now dearer by Rs 50

CLOSING BELL: Tech M, Tata Motors, BPCL, ITC, JSW Steel, PowerGrid, Bajaj Auto, Infosys, TCS, Bajaj Finserv, Bharti Airtel, Wipro and IndusInd Bank were the other gainers

Dual diesel rates will be distortionary

Britain said it will phase out the import of Russian oil and oil products by 2022

According to officials, India has managed to blend almost 9.34 per cent ethanol with petrol in the first quarter of the 2021-22 supply year, which started in December

The RTI reply revealed that in 2018-19, three state-run OMCs paid Rs 37,585 crore as subsidy, which came down to only Rs 2,706 crore in FY22 till December, Kolarkar told PTI

Even if OMCs are not made to share any under-recovery, the continued pricing intervention would make it utterly difficult to divest government's stake in BPCL, Motilal Oswal said in its report

Blending crossed 8.93% on Feb 16; trade sources say to achieve the 10% mark, 4.37 bn litres of ethanol are required of which 4.20 bn litres have already been offered via tenders and finalised by OMC

'We expect the regional refining benchmark to average around $3-4/bbl over the next 12-18 months, balancing our expectations of demand recovery alongside incoming capacity additions,' says Moody's

Here are the top headlines on Wednesday

It will provide some relief to restaurants, eateries, tea stalls and others which constitute the largest user segment of the 19 kg cylinders

Adani Ports, Indian Hotels and Tech Mahindra are some of the prominent companies to announce results today.

Minimum wage mandate most contentious for retailers

Oil marketing companies on Thursday kept the prices of diesel and petrol unchanged across major Indian cities.