It is mentioned that a impact is being designed in some areas that the Oil Promotion Organizations (OMCs) have registered large income in 2011-12. On the in contrast, the OMCs have been taking on large failures. The lenders received failures due to buy of three items, namely Diesel fuel, Home LPG and PDS Oil at extremely backed costs. It is only after the support of Rs. 83,500 crore from the Govt and Rs. 55,000 crore from the upstream oil companies ( ONGC, OIL and GAIL), amassing Rs.1,38,500 crore, the three Community Industry OMCs could announce moderate income. Had this support not been given, the three OMCs would have revealed a mixed decrease in Rs. 1,32,000 crore.
It is beneficial to bring up that the three OMCs together had a mixed income of Rs. 8,33,000 crore during 2011-12. Against this, they had announced a mixed revenue of simple Rs. 6177 primary, which is only 0.7% of their income. This stage of revenue is not sufficient for OMCs to allow them to have large spending on ongoing modernization, creating available ecologically certified energy sources, resting of sewerlines, improving storage space, and growth of other facilities . It is worth noting that the OMCs are permitted to announce at least moderate income for keeping their red nick place and credit ratings scores at the international stage.
Because of the extremely backed buy of Diesel fuel, Home LPG and PDS Oil, the OMCs are under large economical stress. Their mixed borrowings have gone up from Rs.97,000 crore in April 2011 to a huge quantity of Rs.1,28,000 crore in April 2012 . In the same way, their attention problem has gone up from Rs. 4,700 crore in 2010-11 to Rs. 9,500 crore in 2011-12. If the administration and upstream support was not created available to the OMCs, to make good their failures, they would not have been in a place to increase necessary financial to buy raw from the worldwide industry and sustain ongoing provide of oil items in the nation.
Although fuel has been a deregulated item since 26.6.2010, the OMCs have received failures of Rs. 2,300 crore in 2010-11 and Rs. 4,900 crore in 2011-12 and Rs. 2,300 crore in the existing economical season (till Twenty third May, 2012). Because of the lack of ability of the OMCs to improve the price of fuel for period of time, the scenario became such that the modification in the price of fuel was definitely expected.
It may be mentioned that the normal price of raw oil was only USD 85/bbl in 2010-11 which went up to USD 112/bbl in 2011-12, an improve of 32%. It is relevant to bring up that the price of raw oil and items brought in / purchased from other manufacturers comprises about 91-93% of the all inclusive costs received by the OMCs. Therefore, the propaganda that the OMCs are taking on great management costs is misguided.
Apart from the above, the value of rupee has decreased from Rs. 46 per USD in May 2011 to Rs 54.5 per USD in May 2012. The twice drawback of improve in oil costs and distinct rupee devaluation have impacted the oil sector in Indian on an unrivaled range. Both the customers and experts are expected to comprehend the unique problems the nation is experiencing at the moment.
It is beneficial to bring up that the three OMCs together had a mixed income of Rs. 8,33,000 crore during 2011-12. Against this, they had announced a mixed revenue of simple Rs. 6177 primary, which is only 0.7% of their income. This stage of revenue is not sufficient for OMCs to allow them to have large spending on ongoing modernization, creating available ecologically certified energy sources, resting of sewerlines, improving storage space, and growth of other facilities . It is worth noting that the OMCs are permitted to announce at least moderate income for keeping their red nick place and credit ratings scores at the international stage.
Because of the extremely backed buy of Diesel fuel, Home LPG and PDS Oil, the OMCs are under large economical stress. Their mixed borrowings have gone up from Rs.97,000 crore in April 2011 to a huge quantity of Rs.1,28,000 crore in April 2012 . In the same way, their attention problem has gone up from Rs. 4,700 crore in 2010-11 to Rs. 9,500 crore in 2011-12. If the administration and upstream support was not created available to the OMCs, to make good their failures, they would not have been in a place to increase necessary financial to buy raw from the worldwide industry and sustain ongoing provide of oil items in the nation.
Although fuel has been a deregulated item since 26.6.2010, the OMCs have received failures of Rs. 2,300 crore in 2010-11 and Rs. 4,900 crore in 2011-12 and Rs. 2,300 crore in the existing economical season (till Twenty third May, 2012). Because of the lack of ability of the OMCs to improve the price of fuel for period of time, the scenario became such that the modification in the price of fuel was definitely expected.
It may be mentioned that the normal price of raw oil was only USD 85/bbl in 2010-11 which went up to USD 112/bbl in 2011-12, an improve of 32%. It is relevant to bring up that the price of raw oil and items brought in / purchased from other manufacturers comprises about 91-93% of the all inclusive costs received by the OMCs. Therefore, the propaganda that the OMCs are taking on great management costs is misguided.
Apart from the above, the value of rupee has decreased from Rs. 46 per USD in May 2011 to Rs 54.5 per USD in May 2012. The twice drawback of improve in oil costs and distinct rupee devaluation have impacted the oil sector in Indian on an unrivaled range. Both the customers and experts are expected to comprehend the unique problems the nation is experiencing at the moment.
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