
Q3 results: Oil and gas cos to see strong sequential growth in Dec quarter
OMCs such as IOCL, BPCL, and HPCL are likely to swing back to the black, thanks to sharp narrowing of marketing losses on retail fuels and steady GRMs.
OMCs such as IOCL, BPCL, and HPCL are likely to swing back to the black, thanks to sharp narrowing of marketing losses on retail fuels and steady GRMs.
Shares of CPCL and MRPL tumbled nearly 10%, while ONGC, OIL, Reliance, IOC, Gujarat Gas, and Indraprastha Gas dropped up to 5% due to sharp decline in international crude prices.
ONGC Videsh has a significant presence in the oil and gas sector in Colombia.
Govt says timely interventions on multiple fronts have led to a falling trend in edible oil prices.
The post Covid-19 world for oil producers, traders, and consumers will be very different from the earlier decades.
The Survey says that this is an outcome of “the decline in global crude prices, decontrol of prices, and better targeting through direct benefit transfer of subsidies”.
Iran was India’s big bet towards energy security and safe haven from crude oil price shocks. With the U.S. insisting on zero imports from Iran, the government is left with an unwelcome conundrum.
While hoping for no rate action from RBI, Ind-Ra expects a macroeconomic hotchpotch if these factors sustain beyond a quarter.
SpiceJet’s standalone profit for the whole financial year surged 32% from Rs 430 crore in FY17 to Rs 566.7 crore.