Downstream Companies

Jump to

Should OMCs expect timely subsidy from govt in 2013

Oil marketing companies (OMCs) continue to take a hit on sale of petroleum products due to delay in government subsidy.
Oil India readies warchest for M&A; to be exhausted in FY13

Sources at Oil India tell CNBC-TV18 that the company is preparing a warchest of Rs 6000-7000 crore for the purpose of mergers and acquisitions, both foreign and domestic.
IOC to bear subsidy burden of Rs 3,800 cr this year

PK Goyal, director of finance at IOC, said that as per the official letter received by the Ministry of Petroleum, IOC’s share in the additional subsidy for upstream companies is only Rs. 2,300 crore but the company will still be having a subsidy burden of Rs 3,800 crore for this year.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347

Downstream Companies

Should OMCs expect timely subsidy from govt in 2013

Oil India readies warchest for M&A; to be exhausted in FY13

IOC to bear subsidy burden of Rs 3,800 cr this year