Oil Marketing Companies (omcs)

Oil marketing stocks IOC, BPCL, and HPCL fell up to 5% as Goldman Sachs issued a bearish outlook following weak Q2 results, driven by underwhelming refining and marketing performance.

OMC shares lower, ONGC spurts over 2% as Brent tests $78 on risk to Iranian oil facilities

Investors are worried about an Israeli strike on Iranian oil refining assets, which may evoke a retaliation and thus escalate the ongoing conflict.

Indian Oil, BPCL, HPCL stocks get price target upgrades from Morgan Stanley; global, domestic tailwinds eyed

Morgan Stanley has raised target prices on India's PSU oil marketing stocks, citing global and domestic tailwinds like an oversupplied oil market and strong fuel demand. The brokerage sees HPCL as its top pick, expecting a 22% upside.

Oil marketing companies’ shares have turned volatile, what should traders do?

A steep run-up in OMC shares meant a reversal was on the cards. Now that cracks have emerged, what should a trader do to capitalise on the situation?

Centre, and not OMCs, to bear the impact of LPG price cut, says Puri

Puri also highlighted the sturdy performance of the OMCs in the first quarter of fiscal 2023, and anticipates it to continue into the second quarter as well, which, in turn, is insulating the economy and consumers from macroeconomic shocks

Fuel prices on June 26: Check fuel rates in Mumbai, Chennai, other cities

Crude prices have declined in the last few months amid inflation and recession worries, and have hovered around $75 a barrel. Crude prices touched an all-time high of $140 per barrel in March 2022.

BPCL raises Rs 935 crore via issuance of NCDs

The NCDs have been allotted on a private placement basis to identified investors at an interest rate of 7.58 percent per annum

Record high oil-demand: Which stock will gain, which will lose, according to Nomura

OMCs’ margins will be weighed down, according to the brokerage.

Oil Minister clears air on Rs 35,000 crore energy transition budget allocation

The minister clarified that the Rs 35,000 crore outlay comprises Rs 30,000 crore as capital support to OMCs and Rs 5,000 crore to augment India’s strategic petroleum reserves.

OMCs took big hits, discussions on for further compensation to parry FY23 losses: Minister Hardeep Puri

The petroleum minister's statement comes a day after CNBC TV-18 reported, citing sources, that oil companies are expecting a Rs 50,000 crore compensation from the government for the losses incurred due to the freeze in retail petrol and diesel prices.

Worst may be over for OMCs due to debt increase in Q2, depreciating rupee: Fitch

Last month, the Union Cabinet approved Rs 22,000 crore one-time grant to three PSU oil companies - Indian Oil, Bharat Petroleum, and Hindustan Petroleum Corporation Limited - for LPG losses.

Cabinet meeting highlights: Grant for OMCs, PM-DevINE scheme, bonus for railways staff and other decisions

During the June 2020-June 2022 period, the international prices of LPG increased by around 300 percent but the domestic prices were raised by only 72 percent

Crude slips below $85 a barrel but OMCs may not cut fuel prices. Here’s why

Oil marketing companies have incurred huge losses on petrol and diesel retail sales this year and may take more time to recover the past losses

Centre mulls additional LPG subsidy of up to Rs 30,000 crore: Sources

The additional subsidy amount will be "over and above" the budget earmarked for the Centre's landmark Ujjwala scheme, sources told CNBC TV-18.

Indian OMCs will run all retail fuel stations on solar power by 2024: Oil and Gas Secretary

So far, the OMCs have deployed solar panels to run 29,266 retail outlets, of which 3,000 outlets were added in FY22.

State-run companies set green energy ambitions with net-zero target in mind

Apart from use of solar and wind energy, all three state oil refiners plan to produce green hydrogen, while NTPC is getting into nuclear power.

Govt discusses proposal to shift to monthly, bi-monthly or weekly fuel price revision: Sources

Currently, the retail price of petrol and diesel is reviewed daily by the oil marketing companies after factoring-in the 15-day average of international crude oil rates.

Can crude oil hit $100 a barrel anytime soon?

The limited growth in OPEC+ output, the US oil industry’s limited capacity for expansion, and demand revival, aided by economic recovery and vaccination, are likely to keep oil prices elevated

Unlock 1.0 | Why are fuel prices rapidly increasing?

Oil retailers have cumulatively increased petrol and diesel rates prices by Rs 5.47 and Rs 5.8, respectively, in the past 10 days.

Starting October 1, no discounts on credit card payments at petrol pumps

Earlier, credit card users were able to avail a 0.75 percent discount while buying fuel at petrol pumps.

Jet fuel supply to Air India cut off at 6 airports for non-payment of dues

The six airports include Ranchi, Vishakhapatnam, Kochi, Mohali Patna and Pune.

Indulge in staggered buying now and make money over 12-18 months: Sridhar Sivaram

Sridhar Sivaram said he is not a big fan of NBFCs and particularly housing finance companies (HFC).

Expect to end FY17 with GRM of USD 6/bbl: HPCL

MK Surana, CMD of Hindustan Petroleum Corporation Ltd expects to end FY17 with GRMs of around USD 6 per barrel.

Govt gives tax sops on molasses to boost ethanol production

Currently, there is a fixed excise duty of Rs 750 per tonne on molasses, a by-product of sugarcane used for manufacturing ethanol, alcohol and other products.