Page 6 - Oil Marketing Companies

Soft crude oil prices to lower working capital requirement of OMCs

According to CARE Ratings, the impact of a fall in crude oil price owing to the coronavirus (Covid-19) pandemic on the domestic downstream sector would not be as severe as it is on the upstream sector

Speed up delivery of free cylinders to PMUY beneficiaries: Pradhan

Under the Pradhan Mantri Garib Kalyan package, over 80 million PMUY beneficiaries are eligible to get three free cylinders over the next three months

Oil firms float finished fuel products on Arabian Sea as demand slumps

They're running out of storage space on land and their refineries are running only at 50% of capacity; US Oil futures touch an unprecedented negative pricing

OMCs on stronger wicket, oil producers stare at losses as crude plunges

Refiners like Reliance Industries may also see inventory losses adding pressure on already weak refining margins

Bharat Petroleum divestment process begins amid coronavirus lockdown

Assam gives NOC for sale of 61.65% stake in Numaligarh Refinery, a BPCL subsidiary

Petrol, diesel demand slumps 66%; ATF down 90% as lockdown hurts business

The country's petroleum product consumption fell 17.79 per cent to 16.08 million tonnes in March as diesel, petrol and ATF demand fell

Covid-19 lockdown: Fuel demand likely to slip 40% in April, says report

India is the world's third-largest energy consumer but the Covid-19 lockdown has shut businesses, suspended flights, stopped trains and brought almost the entire vehicular movement to a halt

Volatility in oil prices, uncertain petroleum demand impacting Indian OMCs

An output cut, at best, will put a floor to the falling crude prices, but it may not stabilise demand-supply dynamics.

Silver lining for OMCs: Low crude oil prices signal structural gains

HPCL may benefit more from improvement in marketing margins

Using flexibility in fuel pricing

The government control on pricing continues via tax tweaks

Low petrol prices, phased rise in LPG rate to bring down subsidy

Analysts say the subsidy burden on both LPG and kerosene is likely to be around Rs 35,000 crore

End of exclusivity period will ensure fair play in gas pipeline business

The PNGRB is now taking careful ste­ps to draft regulations on how to end the exclusivity and the subsequent issues of tariff and sharing of the existing infrastructure

Oil firms float fresh tender to procure 2.53 billion litres of ethanol

The new tender was floated because the first one for procurement of 5.11 billion litres of ethanol, issued in August last year, was vastly under-bid

10-year bond yields at decade-plus low; rupee falls as oil prices crash

The Sensex fell nearly 2,000 points, as foreign investors liquidated their investments for safe haven assets such as US bonds. As prices of bonds rise, yields fall.

Oil price crash: Domestic petrol, diesel prices may fall in the near future

Auto fuel prices may see a cut of another Rs 9-13 per litre over a fortnight if crude oil remains at same level

Oil price crash could help India's economy but will hurt country's OMCs

If the prices of oil threaten to remain at such low levels, both government-run ONGC and Oil India as well as private sector RIL-BP or Vedanta could find it extremely unprofitable to dig more fields

From loans to refills at doorsteps, Ujjwala scheme may get a facelift

This is among a slew of measures to be introduced by oil marketing companies to boost the number of refills under the Pradhan Mantri Ujjwala Yojana (PMUY)

Airlines seek relief package from govt after coronavirus outbreak hits biz

Airlines sought a limited period concession of the standing rule of slot allocation, which mandates that firms must operate at least 80 per cent of their allocated slots

Coronavirus outbreak: Subdued crude oil prices to help HPCL, other OMCs

IOC and BPCL to also gain from lower working capital requirement and firm marketing margins, but weak GRMs may limit the upside

Oil marketing companies to take on RIL with e-discounts, cashbacks

Indian Oil is offering a cashback of 10%, or up to Rs 50, for every transaction