The Indian benchmark indices have extended the morning gains with Nifty jumping 134 points, trading at 11,791 while the Sensex added 442 points and is trading at 39,253 mark.
After paying hefty returns to shareholders in the form of dividends and share buyback, state-owned oil marketing companies’ including Indian Oil Corporation, Bharat Petroleum Corporation and Oil India may see heightened pressure on and face the risk of government intervention in fuel prices during the elections.
Your fuel bill is set to rise as the oil marketing companies (OMCs) are expected to recoup the losses in the medium term, a rating agency said. While the crude oil has been on the rally this week, the OMCs increased the fuel prices only
Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the United States to make up for any loss of Iranian oil if the U.S. enforces sanctions more harshly from next month, sources and company officials said.
The Election Commission (EC) has asked the three oil marketing companies (OMCs) — Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation — to stop allotment of petrol pumps for now.
Oil & marketing companies (OMCs) were in focus on March 29 after HSBC maintained a buy rating but raised respective target prices on each one of them.
Shares of three state-run oil marketing companies rose by 0.74% to 1.47% at 10:51 IST on BSE after crude oil futures declined in the international commodity market.
The three public-sector oil marketing companies — Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) — have approached the petroleum ministry to seek exemption from the election commission for going ahead with the allotment of at least 31,800 petrol pumps,
Assam, the state where oil was discovered and produced for the first time in the country more that a century ago, will have the first Oil Museum in the country.
India’s Bharat Petroleum Corp Ltd has bought a gasoline cargo for first-half March arrival, two trade sources said on Monday. BPCL bought late last week 35,000 tonnes of 91.5-octane gasoline at a low single-digit premium to Singapore quotes on a cost-and-freight (C&F) basis, said the sources.