Pk Goyal

Oil minister Veerappa Moily on Friday had said that the cap would be raised. This followed Congress leader Rahul Gandhi‘s speech at the AICC session in which he proposed that the government should raise the cap.

Rise in crude, rupee fall will lead to Rs 12800cr loss: IOC

Hit by a double whammy of rising crude prices and depreciating rupee, PK Goyal, director-finance, IOC, says the oil marketing company will face an under recovery of Rs 12800 cr for per unit rise in crude pirce and per unit fall in rupee level.

Seek one-time hike in diesel price: IOC

Rupee has depreciated roughly 12 percent during the current year. On every rupee depreciation, under-recoveries for the sector jumps by roughly Rs 8,000 crore

IOC to raise $500m via syndicated loan by end-Aug

State refiner Indian Oil Corp will raise USD 500 million through a syndicated loan by the end of August, a senior company official said on Tuesday. The proceeds will be used for working capital requirements.

IOC divestment govt's call, but this not right time: Goyal

PK Goyal director finance of Indian oil corporation (IOC) told CNBC-TV18 that even though it is the government‘s call, hbut this is not the right time for divestment.

Petrol usage growth falls to 4.5% from 8-9% year ago: IOC

Consumption of Petrol in the country has grown at 4.5 percent in current year as compared to 8-9 percent growth due to rising price of the fuel, says PK Goyal, Director Finance, IOC

Diesel hike to cut under-recovery by Rs 300cr/mth: IOC

PK Goyal, Director Finance, IOC believes if the the under-recovery trend for diesel continues then for FY14 it will be sees at Rs 59,000 crore.

Will hike diesel prices at June-end: IOC

IOC hiked the diesel price by 50 paise on June 1 and is likely to go for another hike only next month after government's decision.

EPP would impact GRMs by $2.80/bbl: IOC

In order to bring down the deficit by nearly Rs 15,000 crore, the finance ministry yesterday decided to change the pricing policy for petrol and diesel from "trade parity" to "export parity". The move is likely to reduce the selling price of fuels and impact the profitability of the already ailing PSU oil marketing companies.

Quantum not fixed, but expect another hike in 15 days: IOC

Speaking about the authorization to hike prices, PK Goyal, chairman, IOC said the quantum of hike has not been directed by the government.

IOC declares cut in petrol prices on stronger Re

IOC director of finance PK Goyal explains to CNBC-TV18 the various aspects of the PSU's decision to cut petrol prices by nearly 56 paise a litre.

IOC asks govt to compensate OMCs on quarterly basis

PK Goyal, director finance, Indian Oil Corporation (IOC) says that the oil major has asked the government to compensate oil-marketing companies on a quarterly basis. "We are currently incurring revenue loss of Rs 1.37 per litre of petrol sales," Goel told CNBC-TV18 in an interview.

Will review petrol prices on June 15: IOC

Amidst protests and bandhs against the recent hike, the government rolled back petrol prices by Rs 2 on Saturday. However, this may not be the end of woes. PK Goyal, Director-Finance of IOC says that oil companies will keep adjusting rates and will review petrol price again on June 15.

Global price rise not Re fall led to petrol price hike: IOC

PK Goyal, Director Finance of IOC tells CNBC-TV18 that the increase in petrol prices had little to do with rupee depreciation.

Under recoveries increase, but no hike in petrol price: IOC

Reports suggesting another petrol price hike by oil marketing companies came in today, however, PK Goyal, director-finance of Indian Oil Corporation denies these reports.

Paying for Iran oil through Turkey bank, says IOC

India's top state-run refiner, Indian Oil Corp Ltd, said on Wednesday it had begun paying its debt to Iran for oil imports and would clear an outstanding of 380 million euros this month using an arrangement with a state-controlled bank in Turkey.

IOC raises $500m through overseas bonds

State-owned Indian Oil Corporation (IOC) has successfully raised USD 500 million through an overseas bonds issue to fund its capital needs.

How are oil firms reading the fuel price hike?

Bringing some respite to the bleeding oil marketing companies, the Empowered Group of Ministers on fuel, which met today, announced a Rs 3 per litre hike in prices of diesel. It has also increased the rates of kerosene by Rs 2 a litre and LPG by Rs 50 per cylinder. How are

Oil marketing co's under-recoveries at Rs 460cr a day: IOC

No longer able to withstand high crude prices, Chairman RS Butola, in an exclusive on CNBC-TV18 said that while prices were expected to fall, they haven't, which has led them to increase prices.

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.

Industry's total under-recovery in FY11 is Rs 78000cr: IOC

In an interview with CNBC-TV18, PK Goyal, Director-Finance, IOC said that if the subsidy share on upstream companies is increased then it would be a positive news for the downstream companies.