Avenue realigning to the brand new state of affairs for oil advertising and marketing firms

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It might be time to assessment and re-rate the affect of the Ukraine struggle upon the Indian oil refining and advertising and marketing firms (OMCs). Fossil gasoline costs are stratospheric and India imports over 50 per cent of its fuel and 85 per cent of its crude oil.

Two oil advertising and marketing PSUs, Indian Oil Company (IOC) and Hindustan Petroleum Company (HPCL) have just lately purchased round 5 million barrels of crude from Russia at discounted charges. Since India consumes round 4.5 million barrels a day, this can be a token amount however it might be an indicator of future offers with geopolitical implications. India …




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First Printed: Wed, March 23 2022. 19:49 IST





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