BPCL HPCL

After two tight quarters of profit-margin shrinkage due to global volatility, Indian OMCs are expected to see reduction in operational losses in the October-December quarter (Q3FY23).

Analysts believe that OMCs would see further decline in GRMs in Q2FY23, as cracks correct on a sequential basis and lower oil prices would drive sizable inventory losses

The plan to offload the Centre's 52.98 percent stake in the oil major could not go forward as there was not sufficient number of bids

The price of commercial LPG used in hotels and restaurants on Thursday was slashed by Rs 91.5 per cylinder on softening international prices, but oil companies have made no changes in rates of domestic cooking gas and rather began imposing limits on refills a user can order in a fortnight. The price of a 19-kg commercial LPG cylinder was cut to Rs 1,885 per cylinder in the national capital from Rs 1,976.50, according to a price notification from state-owned fuel retailers. This is in line with softening international prices. However, rates of LPG used in household kitchens for cooking purposes remained unchanged at Rs 1,053 per 14.2-kg cylinder. This because the rates of domestic cooking gas were way lower than cost and now with a drop in international prices they are at breakeven, industry sources said. Commercial LPG rates on the other hand have largely been aligned with cost and so they have moved in tandem with rise and fall in international rates. And this difference between

The government on Thursday raised the windfall tax on exports of diesel to Rs 7 per litre and reintroduced the tax on jet fuel exports of Rs 2 per litre.

The three fuel retailers kept petrol and diesel prices unchanged for a record 137-days between November 2021 and March 2022 despite a nearly USD 27 per barrel rise in crude oil prices

The two major OMCs were exhibiting a mixed trend on the charts, with HPCL reflecting positivity, while BPCL struggling to hold ground.

This will now be put up for approval by 'Alternative Mechanism' which is essentially a very small grouping of key Cabinet ministers, sources privy to the development said

While BPCL saw net sales at Rs 44,146 crore, a decline of 14 per cent over the year, HPCL's net sales at Rs 48322 crore too were lower than Rs 48,639 crore a year ago