Ajay Modi / New Delhi March 11, 2010, 0:21 IST

Even before the start of the new financial year, the spectre of rising losses during 2010-11 has begun to haunt the three state-controlled oil marketing companies that account for over 90 per cent of the country

State-run oil marketing companies (OMCs) will be able to taper their third quarter losses after the government has committed itself to a Rs 12,000-crore cash subsidy to compensate them for selling cooking fuels at government-regulated prices.

Kalpana Pathak & Ajay Modi / Mumbai / Delhi April 22, 2009, 1:11 IST

After a brief honeymoon with over-recoveries on sale of petrol and diesel, the country

Rakteem Katakey / New Delhi November 15, 2008, 0:19 IST

After reporting losses in excess of Rs 12,000 crore in the July-September quarter, state-run refiners are likely to make marginal profits in the three months up to December 2008 as crude oil prices have plunged to 22-month lows of below $50 per barrel, five analysts tracking the companies said.

Not everybody is enthused by the crashing international crude prices. As prices dip below the strategically-significant $60 per barrel mark, recent investments made in exploration and production (E&P) activities in India could come under a cloud. Investments in E&P have gained momentum since 2006, while crude prices touched a high of $147 earlier this year.

Govt Tries Balancing Act To Protect Consumers And Burdened Oil Companies Rajeev Jayaswal NEW DELHI THE government is working on a dual strategy of fuel price hikes coupled with duty cuts to shield consumers and cash-strapped oil companies.