Oil marketing companies

January 5, 2025 5:42 PM

India’s demand for petroleum products expected to rise by 4%: report

India’s demand for petroleum products, including petrol, diesel, and LPG, is projected to increase by 3-4% in the current financial year ending March 31, 2025, according to a report by Fitch Ratings. The growth is attributed to rising consumer demand, industrial expansion, and infrastructure development, the report noted. For India’s oil marketing companies (OMCs), refinery margins are expected to decline below their mid-cycle levels in FY25, driven by weaker product cracks, regional overs...

November 28, 2024 9:12 PM

Government pushes for greater ethanol blending in petrol

The Government of India has implemented a series of initiatives since 2014 to achieve ethanol blending targets under the Ethanol Blended Petrol (EBP) Programme. These efforts have led to remarkable progress, with the blending rate increasing from just 1.53% in 2013-14 to an estimated 14.60% in 2023-24. The supply of ethanol for blending by public sector Oil Marketing Companies (OMCs) has more than doubled over the past decade, rising from 2,506 crore liters in 2013-14 to an estimated 4,828 cror...

September 16, 2024 5:02 PM

Oil companies reduce price of 19 kg commercial and 5 kg FTL cylinders

Oil marketing companies reduced the prices of 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, said sources. The price has been reduced by Rs 30.50 for a 19-kg commercial cylinder. From April 1, the price in Delhi has been fixed at 1764.50, said sources. The price of the 5kg FTL cylinder has been decreased by Rs 7.50. On March 1, oil marketing companies announced a hike in the prices of commercial liquefied petroleum gas (LPG) gas cylinders. This revision in prices came durin...