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Fuel price cut next month: Deora (Bad News for HP, BP, IOC, RIL)
Posted by :
My MultibaggersTracked by: 0 Boarder
Guruvayur (Ker), Dec 30 (PTI) The Centre would effect a further reduction in petroleum prices next month, Union Minister for Petroleum and Natural Gas Murli Deora said here today.
A decision on reduction of prices of petroleum products would be taken before February next, Deora, who visited the famous Sree Krishna temple here, said.
Proposal on supply of cooking gas through pipelines was also under consideration in view of the shortage of LPG cylinders, he added. (Source: PTI)...
Cryude may fall post dec 02 because of huge inventory pile up and fall in demand
Posted by :
dipu_gmTracked by: 0 Boarder
Crude rose last week because of war like situation between GAZA and Israel. When war hysteria dies we will see crude on its downward journey.
See the bloomberg survey below
Bloomberg
By Mark Shenk
Dec. 26 (Bloomberg) -- Crude oil may fall next week on speculation that U.S. fuel stockpiles will increase because of faltering demand.
Thirteen of 28 analysts surveyed by Bloomberg News, or 46 percent, said futures will decline through Jan. 2. Ten respondents, or 36 percent, forecast oil will increase and five said there will be little change in prices. Last week, analysts were evenly split over whether oil would rise or drop.
U.S. gasoline inventories rose 3.34 million barrels to 207.3 million barrels last week, the Energy Department said in a report on Dec. 24. Stockpiles of distillate fuel, a category that includes heating oil and diesel, climbed 1.81 million barrels to 135.3 million barrels.
“Crude oil is set to continue on its downward spiral through the end of the year,” said John Kilduff, senior vice president of risk management at MF Global Inc. in New York. “The build in gasoline supplies last week will put further pressure on the market.”
U.S. fuel consumption during the four weeks ended Dec. 19 averaged 19.8 million barrels a day, down 4.2 percent from a year earlier, the Energy Department report showed.
Crude oil for February delivery declined $4.65, or 11 percent, to $37.71 a barrel this week on the New York Mercantile Exchange. Nymex was shut yesterday because of Christmas. Prices have dropped 74 percent from the record $147.27 a barrel reached on July 11.
The oil survey has correctly predicted the direction of futures 49 percent of the time since its start in April 2004.
Bloomberg’s survey of oil analysts and traders, conducted
each Thursday, asks for an assessment of whether crude oil
futures are likely to rise, fall or remain neutral in the coming
week. This week the survey was conducted a day earlier than usual
because of the Christmas holiday. The results were:
RISE NEUTRAL FALL
10 5 13
...
Sell for target of 230
Posted by : GuestTracked by: 0 Boarder
If you bought earlier at 240 -250 then you can book profits as we are close to your 300 target. If you buy now then you have a hot potato which you must sell to the next bakra as soon as you can....
In reply to:
Sell for target of 230
Posted by : dipu_gm
Dear guest,
Price redction will be only after February!! My target is 300 considering crude to be 35$/bl
Thnx
Deepak 
Sell for target of 230
Posted by : dipu_gmTracked by: 0 Boarder
Dear guest,
Price redction will be only after February!! My target is 300 considering crude to be 35$/bl
Thnx
Deepak...
In reply to:
Sell for target of 230
Posted by : Guest
HPCL cant make big profits as the govt adjusts the oil price as per crude rates.Next petrol price reduction coming soon. Some ten days ago hpcl fell to 215 after petrol price decrease.Also there are lakh crores of accumulated deficit. For trading buy at 210 sell at 235.
Govt issues Bonds to HPCL
Posted by : GuestTracked by: 0 Boarder
The bonds are to cover part losses of lakhs of crores. Not to boost company profits....
In reply to:
Govt issues Bonds to HPCL
Posted by : dipu_gm
Cheers !! this will take HPCL above 300 buy all OMCs on dips .
NEW DELHI: The government issued bonds worth Rs 22,000 crore to compensate the cash strapped oil marketing companies. The government gave the
refiners the 6.35 % bons maturing in 2024 to OMCs as compensation towards estimated under-recoveries on account of sale of sensitive petroleum products during the current fiscal.
IOC has been issued bonds worth Rs 11,975.51 crore, HPCL Rs 4,693.73 crore and BPCL worth Rs 5,330.76 crore. An official statement issued by the finance ministry said, the investment in the special bonds by the banks and insurance companies will not be reckoned as an eligible investment in government securities for their statutory requirements.
Government Bonds for HPCL to reduce losses
Posted by : GuestTracked by: 0 Boarder
Bonds are issued to HPCL to cover huge under recoveries - not to increase its profit. Market pushed up scrip because of Bonds release. It may fall to sharply after this...
Govt issues Bonds to HPCL
Posted by : dipu_gmTracked by: 0 Boarder
Cheers !! this will take HPCL above 300 buy all OMCs on dips .
NEW DELHI: The government issued bonds worth Rs 22,000 crore to compensate the cash strapped oil marketing companies. The government gave the
refiners the 6.35 % bons maturing in 2024 to OMCs as compensation towards estimated under-recoveries on account of sale of sensitive petroleum products during the current fiscal.
IOC has been issued bonds worth Rs 11,975.51 crore, HPCL Rs 4,693.73 crore and BPCL worth Rs 5,330.76 crore. An official statement issued by the finance ministry said, the investment in the special bonds by the banks and insurance companies will not be reckoned as an eligible investment in government securities for their statutory requirements.
...
Sell for target of 230
Posted by : GuestTracked by: 0 Boarder
HPCL cant make big profits as the govt adjusts the oil price as per crude rates.Next petrol price reduction coming soon. Some ten days ago hpcl fell to 215 after petrol price decrease.Also there are lakh crores of accumulated deficit. For trading buy at 210 sell at 235....
NSE Announcements on HPCL
Posted by : MMB MessengerTracked by: 0 Boarder
Hindustan Petroleum Corporation Ltd. has informed the Exchange that: "Shri T. L. Sankar & Shri I M Pandey have ceased to be Directors in HPCL Board effective December 01, 2008 (PM) and December 08, 2008 (PM) respectively, consequent upon completion of their term as Directors in HPCL Board."...
BSE Announcements on HPCL
Posted by : MMB MessengerTracked by: 0 Boarder
Hindustan Petroleum Corporation Ltd (HPCL) has informed BSE that Shri T L Sankar & Shri I M Pandey have ceased to be Directors in HPCL Board effective December 01, 2008 (PM) and December 08, 2008 (PM) respectively, consequent upon completion of their term as Directors in HPCL Board....
buy on declines
Posted by : marketbearTracked by: 0 Boarder
HPCL is buy at every decline as company will start making profits and then stock will be probably re-rated....
Petroleum Min to seek Cabinet node on reviewing fuel rates
Posted by : marketbearTracked by: 0 Boarder
stock will be rerated very soon. Buying at every declines should be made...
In reply to:
Govt issues Bonds to HPCL
Posted by : dipu_gm
Cheers !! this will take HPCL above 300 buy all OMCs on dips .
NEW DELHI: The government issued bonds worth Rs 22,000 crore to compensate the cash strapped oil marketing companies. The government gave the
refiners the 6.35 % bons maturing in 2024 to OMCs as compensation towards estimated under-recoveries on account of sale of sensitive petroleum products during the current fiscal.
IOC has been issued bonds worth Rs 11,975.51 crore, HPCL Rs 4,693.73 crore and BPCL worth Rs 5,330.76 crore. An official statement issued by the finance ministry said, the investment in the special bonds by the banks and insurance companies will not be reckoned as an eligible investment in government securities for their statutory requirements.
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