How crude price crash could turn the tide for India’s state-owned oil giants Profitability at state-run oil marketing companies (OMCs) is expected to improve as declining crude oil prices boost fuel marketing margins, although rising debt levels and uncertainty over future fuel taxes could weigh on the sector’s longer-term earnings outlook, according to a JP…
The Encroachment Task Force (ETF) of the PMC on Friday carried out a major anti-encroachment drive at Kareli, Prayagraj: Acting on a request from the Indian Oil Corporation (IOC) for clearance of a 60ft-wide gas pipeline stretch, the Encroachment Task Force (ETF) of the Prayagraj Municipal Corporation (PMC) on Friday carried out a major anti-encroachment…
According to OMC officials, a significant factor behind the surge in diesel sales at public sector retail outlets has been a shift in procurement patterns from bulk consumers to authorised fuel stations Ahmedabad: Despite the call for austerity measures by the Union govt, Gujarat recorded a sharp 32.4% rise in diesel sales and 15.3% rise…
Show Quick Read Key points generated by AI, verified by newsroom India to boost LPG storage to cover 30 days’ demand. West Asia conflict disrupted India’s 90% LPG supplies. Fuel sales surge driven by agriculture and price differences. New Delhi, May 29 (PTI) The government has asked state-run fuel retailers to expand liquefied petroleum gas…
In recent days, petrol and diesel prices have gone up by around Rs 7.5 per litre, increasing daily costs for consumers. This has once again sparked a familiar debate, are oil marketing companies (OMCs) making windfall gains amid the Middle East crisis?At the centre of this discussion is a headline number, a combined profit of…
Union minister of state for petroleum and natural gas and tourism Suresh Gopi in Coimbatore on Tuesday. Coimbatore: Steps are being taken to keep fuel prices under control and to prevent sharp hikes, Union minister of state for petroleum and natural gas and tourism Suresh Gopi said on Tuesday.Speaking to reporters at the airport here,…
Times News NetworkKanpur: Police on Sunday busted a gang involved in stealing oil from Indian Oil tankers and arrested four accused, recovering an Indian Oil tanker filled with approximately 15,000 litres of oil, 35 litres of stolen diesel and Rs 36,150 in cash, police said.The action followed complaints of oil shortage and theft from Indian…
State-run oil marketing companies (OMCs), including Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL), on Thursday said fuel and LPG supplies across the country remain uninterrupted amid the ongoing Middle East crisis, assuring consumers that there is adequate stock and no shortage in the system, ANI reported.The…
Ahmedabad: Petrol and diesel rates were raised once again on Monday, with prices going up by nearly 90 paise per litre across Gujarat, deepening inflation worries among consumers and transporters already burdened by rising operating expenses.According to petroleum dealers, petrol prices in Ahmedabad went up by 87 paise per litre, from Rs 97.51 to Rs…
A day after buying rush gripped fuel stations following the hike in fuel prices, Saturday witnessed a comparatively calm scene at petrol pumps across the city. Most stations reported normal sales with almost no rush from motorists. At a petrol pump near Tathawade, a refuelling attendant sits idle, waiting for customers as vehicles trickled in…
