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Boiling crude, OMC share burden may rise to 20%: Srcs
2008-05-15 15:46:13 Source : News Bulletins/CNBC-TV18
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By Sajeet Manghat, CNBC-TV18
Upstream companies like ONGC and GAIL might be hit, if they have to bear an additional 7% subsidy burden. Both the stocks are down today. India’s crude basket is at USD 120.02 per barrel.
FY08 oil subsidy burden is at Rs 77,000 crore.
- Oil bonds share @ 50%: Rs 38500 cr
- Upstream share @33%: Rs 25410 cr
- OMC share @ 17-20%: Rs 13,090-15,400 cr
Sources said OMC share can rise up to 20% of oil subsidy for FY08. Upstream is unlikely to bear additional oil subsidy burden; the burden is limited to 33%. The government may ask OMCs to use refining gains to compensate marketing losses.
CNBC-TV18 Disclaimer
This information is source-based and has not been provided to the stock-exchanges.
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- Jul 09, 15:46
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