Profit

Linking under-recoveries to export prices nonviable for oil marketing cos: IOC

PUBLISHED ON: January 7, 2013 | Duration: 8 min, 48 sec

   
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According to a report by an Indian newspaper, the government is considering working out the subsidy entitlement of oil marketing companies (OMCs) according to 100 per cent export-parity pricing. PK Goyal, director of finance at Indian Oil Corp, says that this move would push most refineries into very heavy losses and make them nonviable.
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