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Bharat Petroleum Corporation
OIL BONDS TO COME TO BPCL early
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Oil ministry pushes for early release of petro bonds
Thu, Aug 21 12:50 AM
The petroleum ministry is pushing for issuing a portion of bonds in advance to oil marketing companies and enable them to partially offset losses in the wake of high global crude oil prices. It has also sought the finance ministry's intervention to enhance the credit limits of oil marketing companies so the latter can meet it working capital requirement.
Under-recoveries of the oil companies -- the notional loss arising from sale of auto fuel and cooking gas at subsidised prices -- are projected to cross Rs 200,000 crore in the current fiscal year. The petroleum ministry wrote to the finance ministry last month, asking the latter to issue the bonds to the state-owned oil marketing companies in the first supplementary budget itself.
An official said that petroleum ministry has sought issuance of bonds of the first three quarters of the current year during based on the actual under-recoveries of the first quarter. The ministry is moving a revised supplementary proposal separately for this, the official said.
The first supplementary budget is expected to be moved in September. In Mumbai, oil secretary R.S. Pandey said the government "cannot see public sector oil companies going into red.
" In June the government announced a mix of bonds, duty cuts and price hike to prop the crippling finances of oil marketing companies. Earlier this month, the Reserve Bank of India allowed Indian Oil Corporation to use its proposed 15 million tonne Paradip refinery's Rs 20,000 crore credit line for meeting its working capital requirement.
Indian Oil was on the verge of exhausting its borrowing limit of Rs 45,000 crore. The latest move by the central bank will give some headroom to the company to raise more money from financial institutions.
The other two oil marketing companies Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited have also sought raising their borrowing limits by Rs 2,500 crore and Rs 3,000 crore respectively.
v.krishnamoorthy...
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what is the future prospects of BPCL ?...
How long Bpcl can survive with losses?!
Posted by : GuestTracked by: 0 Boarder
swami, you are great , oil price is..., left is out.., after congress bjp ...., next yaer bp hp ioc di...., hahahahaha
keep it up no body can escape , ...
In reply to:
How long Bpcl can survive with losses?!
Posted by : psgs
i know it will continue to do well. definitely India will be doing lot more better after 5 years. even after Moody's downgrades india after next 5 years, we will still do well after next 10 years. i know that.
what is so special about it. we are doing far better than what we were doing 8 to 10 years ago. what is so unique about this observation.
but the fact of the matter is. change of govt. would certainly change the quality of bull run that we could see in our markets. with this dirty UPA govt. we can't achieve anything. thats the exact reason why the sensex is not going up. its in a range. just watch. it could once again touch 16k and fall down to 14k. even if it crosses 16k, there will be no risk takers at that level since the elections will be near then. so, there is only one option. the markets have to fall down to 14k after touching 15,16,17,18k whatever level it could touch by dec 2008. but one thing is for sure. Moody's downgrading india rating will create panic in the international investor community and sends a bad signal to all the FII's, and thats a bad thing to happen for emerging economy like ours.
swamy.
How long Bpcl can survive with losses?!
Posted by : psgsTracked by: 0 Boarder
i know it will continue to do well. definitely India will be doing lot more better after 5 years. even after Moody's downgrades india after next 5 years, we will still do well after next 10 years. i know that.
what is so special about it. we are doing far better than what we were doing 8 to 10 years ago. what is so unique about this observation.
but the fact of the matter is. change of govt. would certainly change the quality of bull run that we could see in our markets. with this dirty UPA govt. we can't achieve anything. thats the exact reason why the sensex is not going up. its in a range. just watch. it could once again touch 16k and fall down to 14k. even if it crosses 16k, there will be no risk takers at that level since the elections will be near then. so, there is only one option. the markets have to fall down to 14k after touching 15,16,17,18k whatever level it could touch by dec 2008. but one thing is for sure. Moody's downgrading india rating will create panic in the international investor community and sends a bad signal to all the FII's, and thats a bad thing to happen for emerging economy like ours.
swamy.
...
In reply to:
How long Bpcl can survive with losses?!
Posted by :
MOKSHAG
psgs,I have been observing Moody's rating on India for the past several years and as and when they have down graded rating on india,it has done well in all the areas
May be its a politial gimmick or game but even though this govt is working on wafer thin majority,their financial reforms may go faster
So INDIA story is intact and down the line if you see,we have faced more stringent RBI norms and done well
May be it takes little more time than expecteed
How long Bpcl can survive with losses?!
Posted by : MOKSHAGTracked by: 0 Boarder
psgs,I have been observing Moody's rating on India for the past several years and as and when they have down graded rating on india,it has done well in all the areas
May be its a politial gimmick or game but even though this govt is working on wafer thin majority,their financial reforms may go faster
So INDIA story is intact and down the line if you see,we have faced more stringent RBI norms and done well
May be it takes little more time than expecteed...
In reply to:
How long Bpcl can survive with losses?!
Posted by : psgs
hi, i know Moody's is getting lot of pressure to downgrade India. GDP is likely to slow down to 6-7% this fiscal. deficit looks pathetic. interest rate market looks scary. inflation is spoiling the stock market party. this govt. should first exit. and then we can see some meaningful market movement. till then its a dead market i feel.
swamy.
How long Bpcl can survive with losses?!
Posted by : psgsTracked by: 0 Boarder
hi, i know Moody's is getting lot of pressure to downgrade India. GDP is likely to slow down to 6-7% this fiscal. deficit looks pathetic. interest rate market looks scary. inflation is spoiling the stock market party. this govt. should first exit. and then we can see some meaningful market movement. till then its a dead market i feel.
swamy.
...
In reply to:
How long Bpcl can survive with losses?!
Posted by : marketman
Yes swamy,the rating agency Moody's also expressed its concern about crude economics of UPA govt.... thanks for sharing valuable views on mmb....
How long Bpcl can survive with losses?!
Posted by : marketmanTracked by: 0 Boarder
Yes swamy,the rating agency Moody's also expressed its concern about crude economics of UPA govt.... thanks for sharing valuable views on mmb.......
In reply to:
How long Bpcl can survive with losses?!
Posted by : psgs
hi marketman,
its high time govt. thinks about pure business and economics rather than using psu's to debit subsidies. inspite of 1,066 crores of loss posted by them during june 2008 quarter, their balance sheet looks very strong. thats why govt. of india is so arrogant. they just want to ignore the loss and move forward. but u are right. for how long can this happen?
they need to take note of this and give serious attention to the matter.
may be BJP govt. will be better for all the PSU's.
swamy.
How long Bpcl can survive with losses?!
Posted by : psgsTracked by: 0 Boarder
hi marketman,
its high time govt. thinks about pure business and economics rather than using psu's to debit subsidies. inspite of 1,066 crores of loss posted by them during june 2008 quarter, their balance sheet looks very strong. thats why govt. of india is so arrogant. they just want to ignore the loss and move forward. but u are right. for how long can this happen?
they need to take note of this and give serious attention to the matter.
may be BJP govt. will be better for all the PSU's.
swamy.
...
In reply to:
How long Bpcl can survive with losses?!
Posted by : marketman
The company showed the net loss of 1066 crores during Q1,there may be another above 1000 crore loss in Q2....
How the company can survive with these huge losses?
Govt should remove all the taxes and duties immediately on petro products and then will have to think about increasing prices..... otherwise these types of companies will have to shut their operations and people in india may have to face fuel shortage....
How long Bpcl can survive with losses?!
Posted by : marketmanTracked by: 0 Boarder
The company showed the net loss of 1066 crores during Q1,there may be another above 1000 crore loss in Q2....
How the company can survive with these huge losses?
Govt should remove all the taxes and duties immediately on petro products and then will have to think about increasing prices..... otherwise these types of companies will have to shut their operations and people in india may have to face fuel shortage.......
BPCL
Posted by :
zoombusinessTracked by: 0 Boarder
Bharat petroleum was being battered down to a great extent towards 200 levels... This navratana company has recovered from that to a great extent and looks like on a roll ....towards 400 levels..............S and M...
BSE Announcements on BPCL
Posted by : MMB MessengerTracked by: 0 Boarder
Bharat Petroleum Corporation Ltd (BPCL) has announced the following Unaudited results for the quarter ended June 30, 2008:
The Company has posted a net loss after tax of Rs 10667 million for the quarter ended June 30, 2008 as compared to net profit of Rs 1927 million for the quarter ended June 30, 2007. Total Income has increased from Rs 243195 million for the quarter ended June 30, 2007 to Rs 392977 million for the quarter ended June 30, 2008.
The Consolidated results are as follows:
The consolidated results for the Quarter ended June 30, 2008
The Group has posted a net loss of Rs 10286 million for the quarter ended June 30, 2008 as compared to net profit of Rs 2385 million for the quarter ended June 30, 2007. Total Income has increased from Rs 245449 million for the quarter ended June 30, 2007 to Rs 395686 million for the quarter ended June 30, 2008....
NSE Announcements on BPCL
Posted by : MMB MessengerTracked by: 0 Boarder
Bharat Petroleum Corpn. Ltd has informed the Exchange regarding the consolidated Results for the quarter ended on 30-JUN-2008 as follows: Net Sales of Rs. 3928720 lacs for quarter ending on 30-JUN-2008 against Rs. 2408750 lacs for the quarter ending on 30-JUN-2007. Net Profit / (Loss) of Rs. (102860) lacs for the quarter ending on 30-JUN-2008 against Rs. 23850 lacs for the quarter ending on 30-JUN-2007....
NSE Announcements on BPCL
Posted by : MMB MessengerTracked by: 0 Boarder
Bharat Petroleum Corpn. Ltd has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2008 as follows: Net Sales of Rs. 3902200 lacs for quarter ending on 30-JUN-2008 against Rs. 2386940 lacs for the quarter ending on 30-JUN-2007. Net Profit / (Loss) of Rs. (106670) lacs for the quarter ending on 30-JUN-2008 against Rs. 19270 lacs for the quarter ending on 30-JUN-2007....
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