4 weeks ago
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1st October 2024, 11:48
| #1 |
| Senior - BHPian
Join Date: Jul 2017 Location: Pune Posts: 6,787 Thanked: 59,718 Times | Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel India’s lipid selling companies (OMCs) are experiencing a important boost successful profits from petrol and diesel. According to ICRA, Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) are making a nett of Rs 15/litre connected petrol and Rs 12/litre connected diesel. As per the report, the selling margins of OMCs person improved importantly successful caller months owed to a autumn successful crude lipid prices, and retail prices of fuels person been dependable since March 2024. This has fixed OMCs ample country to walk connected these profits to consumers by reducing the prices of petrol and diesel. The combined nett of India OMCs jumped to Rs 86,000 crore successful FY2023-24. HPCL reported a nett net of Rs 16,014 crore, compared to a nonaccomplishment of Rs 6,980 crore successful the erstwhile year. BPCL’s nett jumped by 13% to Rs 26,673 crore, portion IOCL registered its highest-ever refinery throughput, income measurement and nett profit. Source: ET Now |
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1st October 2024, 12:01
| #2 |
| Senior - BHPian
Join Date: Sep 2009 Location: Pune Posts: 2,029 Thanked: 2,899 Times | Re: Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel We are utilized to existent substance prices now, alternatively of decreasing the substance prices I deliberation authorities should support prices changeless for adjacent fewer years. It volition besides assistance successful keeping ostentation successful cheque which volition assistance GDP and RBI to marque decisions arsenic well. No constituent successful reducing 3-4 Rs for present and again expanding aft immoderate time. |
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1st October 2024, 12:48
| #3 |
| Team-BHP Support
Join Date: Jun 2007 Location: Bangalore Posts: 6,798 Thanked: 47,510 Times | Re: Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel Quote:
Originally Posted by TusharK This has fixed OMCs ample country to walk connected these profits to consumers by reducing the prices of petrol and diesel.
To expect OMCs to "pass on" profits to radical sounds truthful communist. BPCL to put Rs 1.7 lakh crore successful adjacent 5 years If Govt wants little prices for petrol/diesel, they bash person the enactment of reducing taxes. Last edited by SmartCat : 1st October 2024 astatine 12:55. |
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They request to support the profits & reinvest to summation refinery capacity. Eg:|
1st October 2024, 13:22
| #4 |
| Distinguished - BHPian
Join Date: Feb 2020 Location: Calcutta Posts: 1,020 Thanked: 12,088 Times | Re: Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel Quote:
Originally Posted by SmartCat To expect OMCs to "pass on" profits to radical sounds truthful communist. If Govt wants little prices for petrol/diesel, they bash person the enactment of reducing taxes. I don’t deliberation OMC’s are autarkic capable to determine connected the retail substance prices. We ever knew that the OMC’s are making bully magnitude of wealth since lipid prices person stabilised for a agelong clip present but, astatine slightest a fig has been arrived at. So fundamentally everyone is making wealth including the authorities barring the radical of the country, who are lone paying done their noses. Nice economics I say. Also, conscionable a thought came to my mind, the backstage retailers similar Reliance and Nayara are selling astatine the aforesaid terms arsenic OMC’s. I wonderment however overmuch nett they are making ? And yes, hold to your presumption that taxes should beryllium reduced. Last edited by ABHI_1512 : 1st October 2024 astatine 13:49. |
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1st October 2024, 13:26
| #5 |
| Team-BHP Support
Join Date: Mar 2011 Location: Gurgaon Posts: 6,954 Thanked: 29,626 Times | Re: Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel Quote:
Originally Posted by SmartCat To expect OMCs to "pass on" profits to radical sounds truthful communist. They request to support the profits & reinvest to summation refinery capacity.
It’s large to spot businesses thriving similar this! privation we had invested successful shares of Oil companies, alternatively successful our enactment wherever we person to enactment astatine 1-2% margins On a antithetic note, it seems similar everyone has accepted the higher substance prices, tolls, mediocre roads, and different infrastructure issues *sigh* Last edited by Turbanator : 1st October 2024 astatine 13:39. |
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1st October 2024, 13:35
| #6 |
| Distinguished - BHPian
Join Date: Aug 2011 Location: Bengaluru Posts: 3,547 Thanked: 11,466 Times | Re: Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel Quote:
Originally Posted by ABHI_1512 Also, conscionable a thought came to my mind, the backstage retailers similar Reliance and Nayara are selling astatine the aforesaid terms arsenic OMC?s. I wonderment however overmuch nett they are making ? And yes, hold to your presumption that taxes should beryllium reduced. Great point! Probing 1 measurement further, wherefore does Shell inactive complaint a premium compared to the OMC prices? I haven't checked their caller prices but it was higher until 1.5 period ago. |
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1st October 2024, 14:18
| #7 |
| Team-BHP Support
Join Date: Jun 2007 Location: Bangalore Posts: 6,798 Thanked: 47,510 Times | Re: Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel Quote:
Originally Posted by ABHI_1512 I don’t deliberation OMC’s are autarkic capable to determine connected the retail substance prices. I fishy they person conscionable capable terms state to guarantee that they volition marque immoderate profits and not ever beryllium connected Govt bailouts similar successful the past. Whenever a precise ample powerfulness works is acceptable up, the prices are acceptable specified that it makes a agelong word Return connected Equity of 15%, arsenic per the Electricity Act. It is rather apt that OMCs excessively person a akin profitability model. Quote: We ever knew that the OMC’s are making bully magnitude of wealth since lipid prices person stabilised for a agelong clip present but, astatine slightest a fig has been arrived at. All OMCs are listed connected the banal market, truthful everybody knows however overmuch profits they marque each year. And 1 tin conjecture they are making bully profits connected petrol/diesel income by looking astatine OPM % (operating nett margins) numbers All OMCs person petrochemical/aviation/other fuels concern too. So full profits & margins is not from petrol/diesel sales. Quote: Also, conscionable a thought came to my mind, the backstage retailers similar Reliance and Nayara are selling astatine the aforesaid terms arsenic OMC’s. I wonderment however overmuch nett they are making ? Compared to profits Reliance/Nayara (ex-Essar) made by importing crude lipid from Russia and selling petrol/diesel to Europe, their India profits volition beryllium similar pouch money. Quote:
Originally Posted by ashis89 Probing 1 measurement further, wherefore does Shell inactive complaint a premium compared to the OMC prices? I haven't checked their caller prices but it was higher until 1.5 period ago. Shell buys petrol/diesel from Indian Oil/BPCL/HPCL/Reliance astatine wholesale rates and sells it to customers. So determination volition ever beryllium a premium. Last edited by SmartCat : 1st October 2024 astatine 14:49. |
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1st October 2024, 14:34
| #8 |
| Senior - BHPian
Join Date: Mar 2017 Location: BLR Posts: 1,189 Thanked: 7,829 Times | Re: Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel Quote:
Originally Posted by Turbanator On a antithetic note, it seems similar everyone has accepted the higher substance prices, tolls, mediocre roads, and different infrastructure issues *sigh* And present with regular terms updation nary 1 tin cheque whether the terms charged is the updated 1 oregon the earlier price. An outlet tin conscionable omit to update a simplification successful terms and nary 1 has the clip oregon inclination to verify whether the terms being charged is what should really beryllium charged. Daily updation of prices is simply a racket successful disguise. |
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1st October 2024, 16:18
| #9 |
| Distinguished - BHPian
Join Date: Aug 2011 Location: Bengaluru Posts: 3,547 Thanked: 11,466 Times | Re: Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel Quote:
Originally Posted by SmartCat Shell buys petrol/diesel from Indian Oil/BPCL/HPCL/Reliance astatine wholesale rates and sells it to customers. So determination volition ever beryllium a premium. Oh yes. I had forgotten that Shell doesn't person their ain refinery. But what astir Nayara, bash they refine their ain fuel? They are selling substance cheaper than adjacent the OMCs successful a fewer places. |
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1st October 2024, 16:43
| #10 |
| Team-BHP Support
Join Date: Mar 2011 Location: Gurgaon Posts: 6,954 Thanked: 29,626 Times | Re: Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel Quote:
Originally Posted by ashis89 But what astir Nayara, bash they refine their ain fuel? Yes, aged Essar Refinery successful Gujarat. |
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1st October 2024, 17:33
| #11 |
| BHPian Join Date: May 2023 Location: Riyadh Posts: 504 Thanked: 3,274 Times | Re: Oil companies making nett of Rs 15/lt connected petrol, Rs 12/lt connected diesel Quote:
Originally Posted by ABHI_1512 Also, conscionable a thought came to my mind, the backstage retailers similar Reliance and Nayara are selling astatine the aforesaid terms arsenic OMC’s. I wonderment however overmuch nett they are making ? Reliance refinery is among the astir technological refineries successful the satellite (even amended than American refineries), they tin process the worst (sourest, precocious connected sulfur content) crude disposable successful the marketplace and hence they bargain (yes connected regular basis) the cheapest disposable crude successful the market, beryllium it from Iran/Venezuela/Russia/Saudi etc, making their nett margins adjacent higher. They person fig of tanks much than 100m dia for storing this crude and utilizing it successful future. OMC and Reliance nett margins cannot beryllium compared, since the outgo of root crude for processing is considerably antithetic for both. Eg 1 would beryllium buying crude astatine 75-80$ the different would beryllium buying astatine 45-50$ astatine the aforesaid time. The occupation with OMC's is their refineries are beauteous aged and aren't that advanced, barring few, hence are forced to refine the saccharine crude with debased sulfur contented other they volition person corrosion related issues successful their processes. If the OMC's volition commencement to process the crude, which reliance processes, their refineries volition beryllium unopen down wrong months. OT, Fun-fact - IAF jets astatine Jamnagar aren't allowed to alert implicit the Reliance refinery. Last edited by NomadSK : 1st October 2024 astatine 17:47. |
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