Oil Marketing Companies

The Finance Ministry is finalizing the contours of the deal, and a Cabinet approval for the compensation could be sought soon, it is learnt.

Trump's executive order and tariff threat sent crude lower, OMC shares higher

Trump's declaration of a national energy emergency, in an effort to boost oil and gas production triggered a sharp fall in crude oil prices, with Brent falling below $80 per barrel and West Texas Intermediate near $77.

Ethanol sourcing from sugar mills to be less this season, Centre also mulls lower-than-expected price hike: CNBC Awaaz

Leading sugar mills are staring at a dual setback, as Centre is prioritising ethanol procurement from cooperative mills over private companies, and is considering a less-than-expected price hike.

With healthy marketing margins, OMCs can cut auto fuel prices by Rs 2-3/litre: ICRA

The agency's estimates show that OMC's margins are much higher than what they are internationally in September 2024. Meanwhile, retail prices have remained unchanged since March 2024.

OMCs to decide on fuel price cut if crude stays low for long: Petroleum Secy

Oil Ministry has been in talks with the Finance Ministry regarding the windfall tax, and the Department of Revenue will take a final decision in this regard. Both ministries will continue to engage in this matter, Petroleum Secy has said.

HPCL, BPCL shares hit 52-week high as Brent crude prices cool down

Brent crude prices have dropped nearly 7 percent in five sessions, driven by weak demand from China and expectations of increased OPEC+ production in October to offset Libya's output decline.

OMCs bet billions on petchem amid rising risk, market shifts

These investments come amid weak global demand for traditional fuels. While the petrochemical sector offers growth potential, state-run companies have underperformed in this area, adding a layer of risk.

Oil stocks feel the pinch after government raises windfall tax on crude; ONGC, Oil India, Indian Oil fall up to 2.5%

The latest hike in windfall tax marks the fifth such increase since February. The move by the Indian government comes as global oil prices continue to rise amid concerns over potential disruptions in supply due to escalating geopolitical tensions.

Diverting maize for ethanol production will increase poultry feed prices, crimp margins

The poultry industry anticipates that 10-20 percent of maize could be used for ethanol production, which would increase the demand-supply gap further, causing a spike in maize prices.

OMCs' improved marketing margins may see downward revision of fuel prices: ICRA

According to ICRA estimates, OMCs’ net realisation was higher by Rs 11/litre for petrol and Rs 6/litre for diesel vis-à-vis international product prices in January 2024

New Year cheers: Commercial LPG cylinder prices slashed; check latest rates in Delhi, Mumbai, other cities

As per the IOCL website, the cost of commercial LPG—used in establishments like hotels and restaurants—will now be Rs 1,755.50 per 19-kg cylinder in the national capital Delhi, down by Rs 1.50 from the previous price of Rs 1,757.

Can oil marketing stocks run up further?

Oil marketing companies could soon face a double whammy with rising oil prices and falling finished goods prices 

Oil marketing companies’ margin slump to hit Q2 net profit; strong show expected from RIL

Strong refining margins and inventory gains, however, could partly offset the slump in marketing margins of downstream oil companies, say analysts. About RIL, they said the company has showcased noteworthy resilience and growth during Q2FY24

State-run refiners post combined profit of Rs 32,147 crore as marketing margins improve

In the first quarter of the previous financial year, they posted losses due to record-high crude oil prices amid geopolitical tensions

OMCs face Rs 5,000 crore in under-recovery in Q4FY23: Nomura

While the bottomline seems to be improving, the brokerage’s analysts do not believe that the buoyancy will last in the near term

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

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

No plans of more financial support to OMCs, says Union petroleum minister

At present, the OMCs continue to incur losses from the sale of diesel, which will reduce as crude oil prices are now stabilising opines Union Minister of Petroleum and Natural Gas Hardeep Singh Pu​ri​.

Cabinet approves Rs 22,000 crore grant for state-run OMCs to compensate LPG losses

"It will help the PSU OMCs to continue their commitment to the Atmanirbhar Bharat Abhiyaan, ensuring unhindered domestic LPG supplies," the Centre said.

BPCL divestment is not on the table right now: Hardeep Singh Puri

"BPCL is doing well now, divestment is not on the table right now," the minister said.

Benefits of ATF price reduction due to new pricing mechanism will be passed on to customers: Airline officials

Most airlines in India are in talks with oil marketing companies including Bharat Petroleum Corporation, Hindustan Petroleum Corporation, and Indian Oil Corporation and will sign supply agreements with OMCs by October.

Fuel exporters see their stocks on the edge after Centre raises windfall tax

The government has raised the windfall profit tax on the export of diesel to Rs 13.5 a litre and the levy on ATF has been increased to Rs 9 a litre

Spike in technical landings from Sri Lanka flights boosts ATF sales of Indian OMCs

This additional demand for ATF at a time when they are selling at record high prices will boost revenue of the OMCs at a time when they are booking losses on the retail sale of fuel.

Govt includes fuel retail outlets in remote areas under Universal Service Obligation to ensure uninterrupted supply

The Universal Service Obligation will make it obligatory for OMCs to provide supply to retail pumps across the country for the benefit of the end-customers.

OMCs up ethanol procurement price as part of 6-months relief package

There is no change in the basic price of ethanol from the different feedstock and the vendors have to maintain the prevailing rates in the invoices.

Petrol dealers' association asks members to defer protests after meeting petroleum ministry officials

AIPDA, which represents 22 state fuel dealers associations in India, met petroleum ministry officials, who assured them that their demand will be fast-tracked and that the centre will set up a meeting between fuel dealers and oil marketing companies.