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The Bharat Petroleum Corporation Ltd (BPCL) stock has had a subdued 2017 so far while their earnings in Q1 had no fireworks either. CNBC-TV18's Yash Jain caught up with D Rajkumar, CMD of BPCL and asked him what the reasons behind the disappointments in the first quarter were.
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Confidence Petroleum's subsidiary commissioned new unit to manufacture liquefied petroleum gas (LPG) cylinders. The company manufactures LPG and auto LPG cylinders as well as markets commercial LPG. In an interview to CNBC-TV18, Nitin Khara, MD of the company spoke about latest happenings in the company as well as sector.
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Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL) have signed a joint venture (JV) agreement for west coast refinery & petrochemicals. CNBC-TV18's Anshu Sharma caught up with Sanjiv Singh, CMD of IOC and asked him about the details of this partnership and way going forward.
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In an interview to CNBC-TV18, P Balasubramanian, Director-Finance at Bharat Petroleum Corporation Ltd (BPCL) spoke about the latest happenings in his company and sector.
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Since procurement and sales are pre-decided by long-term contracts, movements in spot LNG prices do not impact them, said RK Garg, Director of Finance, Petronet LNG.
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LNG consumption, which is 40-45 million cubic meter per day, is expected to rise by
10 million cubic meter a day in current fiscal, says Prabhat Singh, MD & CEO of Petronet LNG.
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ONGC Videsh has acquired 15 percent stake in Vankorneft and is in the process of acquiring another 23.9 percent by consortium led by Oil India, IOC and BPRL, says the company's MD & CEO Narendra K Verma.
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Dhirendra Tiwari, Head of Research at Antique Stock Broking tells CNBC-TV18 he is unfazed by concerns of Brexit hurting the growth of Indian IT companies such as Infosys which have a presence in the UK.
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Blended gross refining margin (GRM) may be USD 5-6 a barrel in the April-June quarter and USD 4-6 a barrel for FY17, says BPCL's Director Finance P Balasubramanian.
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P Balasubramanian, Director-Finance, BPCL says impact of a rise in oil prices will be very small on the margin.
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S Varadarajan, Chairman & MD, BPCL says the company's gross refining margins (GRMs) will be fairly steady and the company will increase its Bina refinery's capacity to 7.8 million tonne in the near-future and targets 15 MT refining capacity for each of its units.
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Videocon consortium announces petroleum discovery in Brazil
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Oil marketing companies have come into favour ever since the government signaled its intension to switch to market-linked soon, helped by a softening of global crude oil prices.
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Credit rating agency Moody's in a recent note has said that it expects credit profile of OMCs to improve over the next 12 months on the back of falling crude prices and subsidy burden.
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There‘s expectation that the burden of fuel subsidy may reduce after the new government comes into power. The move is likely to improve the core profitability of oil marketing companies.
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State oil companies review petrol prices every fortnight and adjust them, if need be, to align with trends in the international oil prices and the rupee-dollar exchange rate.
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Speaking to CNBC-TV18, S Varadrajan, chairman and managing director, BPCL says the company is likely to post margins in the range of USD 4.5 and 5.5 per barrel.
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According to Prabir Ghosh, this is the first year when the company has received orders in oil and gas sector reflecting positive development in the overall strategy of the company.
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Bharat Petroleum Corporation Limited (BPCL) is optimistic of more oil quantity of oil reserves from its Brazil's find. RK Singh, its CMD says that the quantum will only be known after the appraisal gets over in 2015.
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In an interview to CNBC-TV18, RS Sharma, Former Chairman of ONGC spoke about the current environment in the oil and gas space
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Based on 57/USD as the exchange rate, the under recovery on diesel stands at Rs 6.30, he added.
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If the new pricing method, called the export parity pricing formula is introduced, oil companies will not be re-imbursed for incremental costs like logistics and freight charges.
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RK Singh, CMD, BPCL says, in an interview to CNBC-TV18, that the current diesel-price hike will cut underrecovery on diesel by Rs 3.
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Kirit Parikh, former Planning Commission member and oil-and-gas expert, says in an interview to CNBC-TV18, that consumers have accepted revisions in petrol prices and less frequent price revisions would lead to OMCS charging more.
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The oil marketing companies could easily afford to bring down the price of petrol by at least Rs 2-2.50 per litre, says Narendra Taneja, energy expert.
