Search For "omc"
IOC withdraws proposed Rs 22,000 cr rights issue amid lack of government p
Updated : 1 year, 5 months ago IST
The decision was made during the company's Board meeting held on Monday, September 30th, following the government's decision not to allocate funds for capital support to oil marketing companies (OMCs) in the Union Budget for 2024-25.
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Oil marketing companies making profit of Rs 15/lt on Petrol, Rs 12/lt on D
Updated : 1 year, 5 months ago IST
With crude prices going down, oil marketing companies (OMCs) are making huge profits by selling petrol and diesel.
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India to boost crude oil refining capacity by 35-40 MT by Fiscal 2030: Cri
Updated : 1 year, 5 months ago IST
India's oil marketing companies (OMCs) are expected to increase the country's crude oil refining capacity by 35-40 million tonnes (MT) by the end of fiscal 2030, the Crisil Ratings said.
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MoPNG initiates transition from steel to new age fiber-based LPG cylinders
Updated : 1 year, 7 months ago IST
As of July 1, there are 32.68 crore active domestic LPG consumers being served by public sector Oil Marketing Companies (OMCs). To ensure a steady supply of refills and to accommodate new LPG connections, OMCs have over 50 crore cylinders in circulation, most of which are steel cylinders.
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TruAlt Bioenergy Secures Major Order Worth Over Rs 390 Crore for 1G Bioeth
Updated : 1 year, 8 months ago IST
Bangalore (Karnataka) [India], July 16: TruAlt Bioenergy, one of India's largest biofuel and bioenergy companies has secured a significant order worth over Rs 390 crore from leading Oil Marketing Companies (OMCs) including Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation
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Profit of oil companies will decrease in FY25 as refining margin drops
Updated : 1 year, 9 months ago IST
The Gross Refining Margin (GRM) of Indian oil companies in FY23 was at USD 16-18/ Barrel (bbl), in FY24 the GRM of Indian Refiners moderated to an average of USD 10 - 12/bbl. According to a report by CareEdge ratings, the GRM of oil companies will reduce further to USD 6-8 in FY25
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India again slashes windfall tax on petroleum crude
Updated : 1 year, 10 months ago IST
India started the windfall tax on crude oil producers and on exports of gasoline, diesel and the aviation fuel in July 2022, reportedly to regulate private refiners who wanted to sell fuel overseas instead of locally, to gain from firm refining margins.
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Oil marketing companies' FY24 combined profit rose over 25 times YoY
Updated : 1 year, 10 months ago IST
According to the Ministry of Petroleum and Natural Gas, the combined profit of OMCs for FY 2023-24 stood at Rs 86,000 crore, over 25 times higher than the extraordinarily difficult previous fiscal year.
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India slashes windfall tax on petroleum crude
Updated : 1 year, 10 months ago IST
The central government has reduced windfall tax on crude petroleum, according to a government notification. The special additional excise duty (SAED) on crude petroleum has been slashed from Rs 9,600 per tonne to Rs 8,400 per tonne.
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In respite for people amid LS polls, prices of commercial LPG cylinders sl
Updated : 1 year, 10 months ago IST
Bringing a measure of respite to the people, especially the middle and lower-income sections, amid the polling for the 18th Lok Sabha, oil marketing companies have slashed the prices of commercial LPG gas cylinders by Rs 19 per unit with immediate effect.
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TVS Racing Announces Sponsorship for India's F1 Contender - Kush Maini
Updated : 1 year, 11 months ago IST
Bengaluru (Karnataka) [India], March 30: TVS Motor Company (TVSM) - a leading global automaker that operates in the two and three-wheeler segments, today made a significant move signalling its commitment to the broader motorsports landscape. TVS Racing - India's first factory racing team and
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TVS Racing Set for ARRC Season 2024
Updated : 2 years ago IST
Bangalore (Karnataka) [India], March 9: TVS Asia One Make Championship (OMC) under TVS Racing will mark its presence for the third consecutive year at the upcoming Idemitsu FIM Asia Road Racing Championship (ARRC). Once again, the one-make series will see the inclusion of a multi-region ride
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