Omcs

Cashback of 0.75% to be discontinued on all credit card payments at petrol pumps from today

An industry official said the oil companies have decided to discontinue the discount on all credit card payments from 1 October.

Saudi Aramco drone attacks: Oil marketing, aviation stocks tumble amid crude oil prices surge by 20%

Shares of oil marketing firms led by Bharat Petroleum Corporation Ltd (BPCL) on Monday cracked up to 7 percent following huge spike in crude prices

Govt plans to add over 78,000 petrol pumps is uneconomical, will only cut into each other's sale: Crisil report

The government plan to more than double the number of petrol pumps in the country does not make economic sense as more number of outlets would only cut into each other's sale, leading to some unprofitable, Crisil Research said in a report on Thursday

Freeing petrol pump licensing to help grow competition in fuel retailing: ICRA

A government-appointed expert committee recommending scrapping of the Rs 2,000 crore investment norm for a licence to set up petrol pumps will help enhance competition in the growing domestic market for auto fuels, ICRA said on Tuesday

OMCs under pressure: Rising under-recoveries, thinner spreads to shave operating profit margins by 1.7% this fiscal

In fiscal 2019, the profitability of OMCs was hit as their average gross refining margin (GRM) declined by a third to $5.3 per barrel from $7.9 in fiscal 2017-18.

Petrol, diesel rates to go up in Karnataka as govt hikes sales tax; falling crude rates impacts state's revenue collection

Prior to the revision, the tax rates on petrol and diesel were 28.75 percent and 17.73 percent, respectively.

Around 5,000 compressed bio gas plants with annual production of 15 mn tonnes to be set up by 2023: Dharmendra Pradhan

Compressed bio gas can be produced from various types of feed stocks such as agriculture residues, press mud and spent wash of distilleries, sewage water, municipal solid waste (MSW), cattle dung and bio degradable fractions of industrial waste.

New 55,649 petrol pumps bonanza: Angry fuel dealers to move court to challenge the government's decision

All India Petrol Dealers Association (AIPDA) President Ajay Bansal said the government's move of 25 November appeared contrary to its own policy and the dealers would question its legal validity

Oil PSUs to allot 65,000 petrol pumps: All you need to know if you are planning to apply for petrol pump dealership

RBI move on ECB is good; will ease pressure on cost of borrowing, encourage firms to borrow more from market

The idea is to have it more predictable so that companies can play around with their choice of borrowing.