Page 5 - Omcs

Fuel supply to Air India stopped at six airports due to non-payment

The airports where the fuel supply was stopped by the state-owned OMCs at around 4 pm are Cochin, Visakhapatnam, Mohali, Ranchi, Pune and Mohali

Muted earnings growth ahead for OMCs as refining margins under pressure

Soft refining margins, higher working capital, subsidy sharing and capex are key risks

Combined debt of state-run OMCs hits five-year high of Rs 1.62 trillion

The debt for all three OMCs bloated by Rs 5,000 crore to 10,000 crore each in the March quarter

400,000 bid for fuel pumps; investment of Rs 90,000 crore expected

Singh added the winners of the current round of bidding will be finalised by March 3

From inventory losses to higher interest costs, analysts cautious on OMCs

The recent weakness in refining margins is also concerning and may pose a downside risk to our FY2020 estimates for OMCs

OMCs look to tap 120 million customers via WhatsApp for LPG services

Oil companies plan to use chatbots, automated messaging services providers, companies to connect with customers on a large scale

Street still cautious on IOC, HPCL and BPCL amid lower crude oil prices

While lower crude oil prices are good for margins, lesser profitability on refining, policy uncertainty add to concerns

Will not ask OMCs to further subsidise petrol, diesel prices, says FinMin

'The Re 1 absorption by OMCs in their pricing was a one-time thing,'the official said

Dividend cut from OMCs, reduction in subsidies unlikely: DEA secy

As far as disinvestment is concerned, he has set an ambitious target of Rs 800 billion for the current financial year

Earnings pressure may intensify for OMCs; HPCL, BPCL, IOCL stocks fall

Despite sharp profit revisions, a weak rupee, higher crude oil prices and the government's stance could lead to further downsides

More financial pain in the offing for OMCs, upstream companies: CRISIL

Rs 35 billion profit hit in Q3 for OMCs, higher under-recovery burden seen to hit upstream too

Weaker rupee clouds the outlook for oil marketing companies

While marketing margin concerns remain, currency depreciation worsens the working capital, interest and forex situation

Lost money investing in OMCs? You can make some by betting on oil producers

OMC shares tanked over rising crude as there is little scope to hike fuel prices in an election scenario; Producers like ONGC and Vedanta, however, are likely to gain

Oil marketing companies slip 2% to 4%, HPCL, BPCL hit 52-week lows

HPCL, BPCL, Indian Oil and MRPL were down 2% to 4% on the BSE.

OMCs extend losses as crude oil soars on escalating Syria tensions

HPCL, BPCL and IOC were down over 2.5% each on the BSE

Sentiment takes a U-turn for OMCs

Until last month, everything seemed to be going well for oil marketing companies (OMC) such as Hindustan Petroleum, (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC). But, in the last one month, their share prices have fallen 8-11 per cent. And if analysts are to be believed, the near-term headwinds in the form of volatility in crude oil prices will continue to weigh on their stock prices.The OMC stocks had scaled to their 52-week highs about a month ago, following the spike in Singapore-benchmark gross refining margins (GRM). OMCs, which have huge refining capacities benefit when GRMs rise. The difference between the total value of petroleum products produced by processing a barrel of crude oil and the price of the raw material (oil plus costs) is called GRM. Post disruption caused by hurricane Harvey in the US, benchmark GRMs had risen to $11 a barrel at start of September from $7.4 levels. These have retreated to $7.7 levels recently. While they are still higher than the June ...

OMCs flying high on higher refining margins

The benchmark Singapore GRMs (gross refining margins) in the September quarter so far have seen strong gains. After staying flat sequentially at $6.4 a barrel (on an average) in the June quarter, the Singapore GRM has moved up to $7.6 a barrel (up 19 per cent sequentially and 48 per cent year-on-year), as per ICICI Securities' recent data. This bodes well for the refining business of public sector refiners as well as Reliance Industries. The public sector oil marketing companies (OMCs) such as Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC) had seen good core GRMs in the June quarter, but inventory losses on the back of declining crude oil prices impact. Consequently, the reported GRMs were lower. For instance, BPCL reported GRMs of $4.9 per barrel hit by inventory loss of $2.1 per barrel. Adjusted for inventory losses, per barrel GRMs of BPCL, HPCL and IOC at $7.0, $8.8 and $6.4, respectively were ahead of consensus estimates. Reliance Industries saw ...

OMCs to formalise plans to make world's largest refinery complex

Oil Minister said first phase of complex will be built with an investment of Rs 1 lakh crore

OMCs gear up to meet LPG bottling demand

The Pradhan Mantri Ujjwala Yojana (PMUJ) and its resultantsurge in demand for household liquefied petroleum gas (LPG) has forced oilmarketing companies (OMCs) to sweat its existing LPG infrastructure in the lastfiscal. New LPG related infrastructure additions are likely to happen in thecurrent and in the next financial year, until then OMCs depend on increasednumber of shifts and technology upgrades.For the financial year 2016-2017, packed domestic LPGconsumption rose 10% to 17.18 million tonnes from 18.87 million tonnes. In thesame period, OMC's bottling capacity increased 7% to 16.26 million tonnes from15.17 million tonnes per annum, leaving a gap between the consumption andcapacity available. In its bid to plug this gap, OMCs have been looking atshifts and technology upgrades, until new capacities are commissioned. "IOC has added a capacity of 570 thousand meteric tonne per annum( TMTPA) at 9 Bottling plantsin the last financial year by augmentation of the Bottling infrastructure ..

Daily fuel price revisions to boost OMCs' bottomlines: Report

This resulted in lower under-recoveries, which in turn led to OMCs' borrowing to fall steeply