Oil Marketing Companies News - Latest Updates & Headlines
6 oil marketing companies invest Rs 290 crore to support 303 startups: Hardeep Puri
New Delhi, April 29: Six oil marketing companies (OMC) in India have invested Rs 290 crore from their Rs 550-crore startup fund -- nurturing 303 startups so far -- Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Tuesday.
Oil companies' losses on LPG will reduce to Rs 160/cyl with Rs 50 hike in prices from this month: Report
New Delhi, April 9: Oil marketing companies (OMCs) are likely to reduce losses on selling domestic LPG cylinders over the next few months due to the recent LPG price hike and falling international fuel prices, according to a report by Antique Stock Broking.
LPG price increase will enable oil companies to offset their under-recoveries: Hardeep Puri
New Delhi, April 8: Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, reiterated that the government remains committed to providing affordable LPG cylinders to consumers, despite a significant rise in international LPG prices.
Oil PSUs to absorb excise duty hike on petrol, diesel, no impact on consumers: Hardeep Puri
New Delhi, April 7: The government-owned oil marketing companies will absorb the increase in excise duty on petrol and diesel, announced by the Finance Ministry, as their input costs have come down due to the decline in crude oil prices in the global market, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said on Monday.
Commercial LPG cylinder prices cut by Rs 41 in relief for businesses
New Delhi, April 1: In a big relief for industries and businesses that rely heavily on cooking fuel, oil marketing companies on Tuesday announced a price cut of Rs 41 on commercial LPG gas cylinders (19 kilograms).
Oil marketing companies reduce prices of commercial LPG cylinders by Rs 41
New Delhi, April 1: Oil marketing companies have announced a reduction in the prices of 19 kg commercial LPG gas cylinders by Rs 41, effective from Tuesday.
Global oil prices likely to stay in $75 to $80 per barrel range over next 6 months: CareEdge
New Delhi, Feb 6: Crude oil prices are expected to remain range bound at an average of $75-$80 a barrel over the next 6 months, essentially on the back of higher overall global crude oil production aided by increase in crude oil production by the US while demand growth is expected to remain relatively subdued in the backdrop of a slowdown in major global economies, according to a CareEdge Ratings report released on Thursday.
OMCs face near-term pressure amid absence of budgetary support for under-recovery on LPG
New Delhi, February 4: Oil Marketing Companies (OMCs) are likely to face near-term challenges due to multiple factors, including no budgetary support for LPG under-recovery, weak Singapore Benchmark Gross Refining Margins (GRM), and declining integrated margins on auto fuel, according to a report by Dolat Capital.
Commercial LPG cylinder prices slashed by Rs 7 ahead of Union Budget
New Delhi, Feb 1: In a move set to impact the hospitality and commercial sectors, oil marketing companies have reduced the price of 19 kg commercial LPG cylinders by Rs 7, effective immediately.
Commercial LPG cylinders price reduced by Rs 7 on Saturday
New Delhi, February 1: Oil marketing companies have reduced the prices of commercial LPG gas cylinders on Saturday.
Cabinet raises price of molasses-made ethanol for current season
New Delhi, January 29: Union Cabinet, chaired by Prime Minister Narendra Modi, has raised the price of molasses-made ethanol for the current marketing season. Molasses are widely used in ethanol blending in petrol.
Agrochemical, PSU banks, OMCs, consumer durable, and retail to show strong operating profits in Q3FY25: Report
New Delhi, January 7: The Nifty 50 companies, excluding financial, telecom, cement, and commodity sectors, are expected to show subdued growth in their financial performance for the third quarter of FY25, according to a report by Antique Stock.