The OMCs — Indian Oil Corporation (IOC), Bharat Petroleum Corporation and Hindustan Petroleum Corporation — posted a combined net loss of Rs 6,990 crore for the June quarter, as their underrecoveries of around Rs 13,500 crore remained uncompensated.
The government, which freed petrol price and increased diesel, kerosene and LPG prices in June, is yet to come out with subsidy sharing mechanism for the underrecoveries.
Source: http://www.business-standard.com/india/news/omcs-uncertainproducers-certain-about-future/403747/
In an interview with Ajay Modi & Jyoti Mukul, its Chairman and Managing Director, B M Bansal, says the freeing of petrol prices will only help in improving cash flow and the government is still expected to pick the tab for kerosene and LPG subsidy.
Source: http://www.business-standard.com/india/news/q/400869/
Now that the Indian government has freed petrol prices and increased LPG prices, the fate of the petroleum gas in India’s transportation market is challenged. Also, the increase in domestic production of LPG in India has tipped the balance on the global import capacity.
The 5th LPG Trade Summit taking place in Abu Dhabi from 25-26 October is proud to announce the addressing of the above concerns via two distinguished sessions:
LPG’s Competitiveness as Autogas in India’s Transportation Market
Mr. Suyash Gupta, General Secretary, Indian Auto LPG CoalitionIndia’s LPG production and Imports Outlook
Senior Representative, India Oil Corp (IOC)
For more information on other topics and speakers line-up, please click here.
Those looking for more details and/or keen on attending the conference in Abu Dhabi from 25-26 October, 2010, can write to Huiyan at huiyan@cmtsp.com.sg.
