The Oil Marketing Companies (OMC) such as Bharat Petroleum Corp, Hindustan Petroleum Corp and Indian Oil Corp have incurred losses of Rs 1,61,000 crores in 2012-13 due to subsidised sale of diesel.

45 paise/L diesel hike to cut BPCL, ONGC losses

The government had said last month it would allow fuel retailers to raise the price of subsidised diesel by 0.40 rupees-0.50 rupees a litre every month and asked bulk buyers to pay market rates. Major oil marketing companies have taken the decision to hike fuel prices, which should be encouraging for the market.

See no issues with diesel price hikes every month: BPCL

Diesel is all set to get dearer soon. Oil companies are likely to announce another round of diesel price hike in a day or two. The price hike would provide some respite to oil retailers who are currently incurring a loss of around Rs 10 per litre on sale of diesel.

Govt should balance act post diesel price hike: Ex oil secy

After allowing oil companies to raise diesel price, the government will have to do a balancing act of generating revenue and protecting common man's interest, said RS Pandey, former oil secretary.

Diesel sales deregulation to save govt Rs 2,300cr: BPCL

BPCL, CMD, RK Singh explained in an interview on CNBC-TV18, that the proposal to deregulate bulk diesel sales will save the government Rs 2,300 crore

Diesel price-hike good; aid LPG cap hike with price: BPCL

RK Singh, CMD, BPCL explains on CNBC-TV18 that the staggered hike in diesel prices bodes well for the oil and gas industry. He adds that if the government plans to increase the cap on LPG cylinders it be supported by a corresponding increase in the price of LPG.

Opening of FDI gates will stymie Oppn, boost FII: Ficci

Ficci secretary-general Rajiv Kumar explains to CNBC-TV18 that the decision to allow FDI into multi-brand retail will confuse the Opposition and boost the domestic and overseas investment sentiment.

Oil PSUs under-recovery to lessen by Rs 20,000cr: BPCL

RK Singh, chairman and managing director of BPCL pointed out that post diesel price hike, under recoveries of public sector oil companies will now reduce by Rs 20,000 crore.

Market driven price for LPG will be Rs 747 in Delhi: IOC

PK Goyal, director - finance, IOC, says that the under recovery on diesel effectively will only be reduced by Rs 3.50 a litre.

A Rs 3-hike in diesel won't be of much help: BPCL

Responding to a report that diesel prices may be increased by Rs 3-4 per litre shortly, state-owned Bharat Petroleum‘s chairman and managing director RK Singh told CNBC-TV18 that the hike would not be of much help to oil marketing companies.

Engineers India upbeat on heavy order-book

Ashok Kumar Purwaha, chairman, Engineers India Limited explains to CNBC-TV18 the company will post reasonable growth after recording continued growth in turnover of 50% with PBT and PAT levels at over-33%.

Oil prices volatile; stability vital before more cuts: BPCL

RK Singh, chairman, BPCL says in rupee terms, oil prices are still high. "We have cut prices only to the extent which is sustainable," he says.

BPCL seeks RBI nod to source 100% $ requirement from 1 PSB

The chairman and managing director of BPCL RK Singh tells CNBC-TV18 that they have sought permission from the Reserve Bank of India to source all their dollar requirement from one public sector bank.

Need stability in crude price before moving on petrol: BPCL

In an interview to CNBC-TV18, chairman and managing director of BPCL RK Singh says that they are looking for a sustained stability in crude prices before moving on petrol.

Prod in Mozambique could start only by 2017-2018: Taneja

Narendra Taneja, South Asia Bureau Chief of Upstream tells CNBC-TV18 said that although, the Mozambique offshore is supposed to be floating on gas, it is a comparatively new kid on the block with no big history of offshore oil and gas exploration.

BPCL may cut petrol price by Rs 1.50-2/lt today, says CMD

RK Singh, chairman and managing director of BPCL says, there is a possibility of reduction in the petrol prices. “In the last fortnight, it has come down; both the product and petrol prices have come down. Therefore, there is a possibility of reduction to the extent of about Rs 1.50 or so,” he adds.

Govt should seek Parliament approval for subsidies: Expert

According to the former director of finance for BPCL SK Joshi, the best way for the government to manage its subsidies and the price of petrol is by giving over control to Parliament.

Petrol price hike covers only current losses, says BPCL

Speaking to CNBC-TV18, RK Singh, CMD of BPCL says the hike will be enough to recover only current losses not the ones made in the past. "We hope the company will be allowed to adjust price every fortnight," he says.

It's time for govt to hike fuel prices, says BPCL CMD

Bharat Petroleum is looking to hike petrol prices soon, the company's chairman and managing director R.K Singh told CNBC-TV18.

Have no intention to sell Rovuma stake: BPCL

Last week, Shell bid more than half a billion dollars for Cove Energy. Bharat Petroleum owns minority stake in the Rovuma license. RK Singh, chairman and managing director of BPCL says, the company has no intention to sell it off.

No plans to sell Mozambique asset now: Videocon

Royal Dutch Shell Plc has made an agreed 992.4 million pounds bid for Mozambique-focused Cove Energy. Venugopal Dhoot, chairman and managing director of Videocon says, the company doesn’t have any plan to sell this Mozambique asset at such a low price.

OMCs aiding airlines in ATF import unreasonable: BPCL

Although it might spell some good news for the airline industry, it is definitely adding pressure to the OMCs as the EGoM approved importing of ATF.

BPCL in no hurry to raise petrol price, says CMD

High interest cost, a weak rupee and under-recoveries on sale of petroleum products has become a big cause of concern for state run oil retailer Bharat Petroleum Corporation (BPCL)

Expect petrol price revision on fortnightly basis: BPCL

S Varadarajan, director-finance of BPCL denies any political pressure in the petrol price cuts. Speaking to CNBC-TV18, he says that from hereon, petrol prices can be expected to be revised regularly on a fortnightly-basis.

Q2 under recovery at Rs 5200cr says BPCL

There has been apprehension about oil companies due to concerns related to subsidy sharing ratio. S Varadarajan, director finance, BPCL in an interview to CNBC-TV18 informed that BPCL’s under recovery for Q2 would be around Rs 5,200 crore.