Petrol & diesel prices have barely changed since June 2022, even though oil prices have fallen 28% since then. This has boosted profitability of OMCs and dividend payouts to govt.
Bharat Petroleum will invest 430 billion rupees to 500 billion rupees for the two projects, adding that the petrochemical project would start production by fiscal year 2027-28.
India has paid Russia nearly $20 billion for oil in just seven months, more than what it paid in the last ten years combined. It has only reaped higher profits of a few Indian companies.
There was only one potential buyer left in the fray for purchasing the government’s 53% holding in the company. India didn’t want to proceed with a single bidder, official said.
Indian Oil, Bharat Petroleum and Hindustan Petroleum bore revenue loss as rates were held back between November and the first three weeks of March, Moody’s Investors Service noted.
Sales in October by three biggest fuel retailers were 1.3% higher than the same month in 2019. Sales of most other key fuels were also above pre-pandemic levels
Only four sectors will be classified as strategic, CPSEs in other sectors will be privatised. Two banks and one general insurance firm will also be privatised in FY22.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
all that mentioned in this article is fine, but how about the money earned by ambani’s oil refinery? how much did they pay to the govt.? also, the article shows the cost of crude oil, what would the cost per litre be for the OMCs after its processed into petrol or diesel? crude oil seems to be approx 113 rs per liter… petrol and other fuels coming from crude oil are the basic necessities for entire population of the country and surely it reaps tons for the govts… and the oil companies… never they’re at loss.. and its the govts. that keep on increasing the prices of this essential commodity to get more out of public. same goes wtih electricity, gas..
Nothing new about it. These state owned OMCs are learnt to have minted money like anything earlier too. But the Hon’ble Petroleum Minister’s heart seems to beat for them only. What an irony?
all that mentioned in this article is fine, but how about the money earned by ambani’s oil refinery? how much did they pay to the govt.? also, the article shows the cost of crude oil, what would the cost per litre be for the OMCs after its processed into petrol or diesel? crude oil seems to be approx 113 rs per liter… petrol and other fuels coming from crude oil are the basic necessities for entire population of the country and surely it reaps tons for the govts… and the oil companies… never they’re at loss.. and its the govts. that keep on increasing the prices of this essential commodity to get more out of public. same goes wtih electricity, gas..
Nothing new about it. These state owned OMCs are learnt to have minted money like anything earlier too. But the Hon’ble Petroleum Minister’s heart seems to beat for them only. What an irony?
India is cursed with socialist politicians who overtax motor fuel to fund socialism and gain votes.