Oil Marketing Companies Archives

India hikes diesel prices: what is the UPA gameplan?

September 14, 2012August 20, 2014Editor

Is the government on a suicide mission? Its move to hike diesel prices by 12% is a very steep hike in a sensitive fuel item, one which directly affects farmers, and has a cascading effect on a number of goods and services such as public transport, and food items.

Oil PSUs get Rs 21,942 crore bonds

February 5, 2009August 20, 2014Editor

The government yesterday issued bonds worth Rs 21,942 crore to the oil marketing companies to compensate for the losses incurred by them. IOC got about 54% of the total bonds while BPCL was issued nearly a fourth and HPCL the rest. These bonds have a coupon of 6.9% and mature in 2026. Since the oil marketing companies have little leeway in fixing prices of petroleum products resulting in losses, especially on the sale of kerosene and LPG.

IOC, BPCL and HPCL get oil bonds worth Rs 22,000 crore

December 26, 2008August 20, 2014Editor

The government gave oil marketing companies something to cheer before they prepare the third quarter’s results. They have got bonds to compensate them for the losses incurred on selling retail petroleum products like PDS kerosene and LPG. Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation have been issued bonds worth Rs 22,000 crore, with the companies getting 54.4%, 24.2% and 21.3% respectively.