Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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        LATEST NEWS UPDATES | As Consumers Reel from High Fuel Prices, OMCs Make a Killing Off Inventory Gains -Noor Mohammad    </title>
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Indian Oil, BPCL and HPCL together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied.

New Delhi: Indian consumers of petrol and diesel may be reeling under high prices but..."/>
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Indian Oil, BPCL and HPCL together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied.

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    <h1 class="cat-box-title">As Consumers Reel from High Fuel Prices, OMCs Make a Killing Off Inventory Gains -Noor Mohammad</h1>
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		 Published on</span><span class="text-date"> Sep 11, 2018</span>
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                            <div align="justify">-TheWire.in<br /><br /><em>Indian Oil, BPCL and HPCL together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied.<br /><br />New Delhi: </em>Indian consumers of petrol and diesel may be reeling under high prices but oil marketing companies (OMCs) and the government are having a great time.<br /><br />The three state-owned companies &ndash; Indian Oil, BPCL and HPCL &ndash; together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied.<br /><br />OMCs are entitled to international prices of petrol and diesel. But there is usually a two or three-month time lag between buying and processing of crude by OMCs. If global prices go up during this period, OMCs reap inventory gains. Conversely, if international prices fall, they could suffer inventory losses.<br /><br />Indian Oil reported inventory gains of Rs 7,866 crore in the April-June quarter of the current fiscal. It had earned inventory gains of Rs 3,442 crore in the preceding quarter.<br /><br />HPCL&rsquo;s inventory gains jumped 12 times to Rs 1,905 crore from the previous quarter. BPCL saw its inventory gains rise six-fold to Rs 2,679 crore.<br /><br />Helped by inventory gains, Indian Oil&rsquo;s net profit increased by over 30% to Rs 6,831 crore from the preceding quarter. Indian Oil&rsquo;s financial results beat market estimates for April-June period. Net profit would have been even higher if the company had not suffered forex loss of Rs 1,805 crore.<br /><br />IOC earned a gross margin of $10.2 on every barrel of crude that it processed during the April-June quarter, higher than $9.1 per barrel that it had reported during the preceding quarter.<br /><br />The central and state governments too have reaped huge gains from the petroleum sector in recent years. The Centre earned Rs 2.84 lakh crore in taxes from the petroleum sector during 2017-18, more than double what it got in 2014-15. It also mobilised Rs 14,575 crore in dividend from oil PSUs in 2017-18. The figure would have been even bigger if ONGC had not forked out nearly Rs 37,000 crore to buy the Centre&rsquo;s stake in state-owned refiner HPCL.<br /><br />Please <a href="https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government" title="https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government" class="re" target="_blank">TheWire.in, 11 September, 2018, https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government</a><div class="clear"></div>
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    <h1 class="cat-box-title">As Consumers Reel from High Fuel Prices, OMCs Make a Killing Off Inventory Gains -Noor Mohammad</h1>
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		 Published on</span><span class="text-date"> Sep 11, 2018</span>
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                            <div align="justify">-TheWire.in<br /><br /><em>Indian Oil, BPCL and HPCL together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied.<br /><br />New Delhi: </em>Indian consumers of petrol and diesel may be reeling under high prices but oil marketing companies (OMCs) and the government are having a great time.<br /><br />The three state-owned companies &ndash; Indian Oil, BPCL and HPCL &ndash; together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied.<br /><br />OMCs are entitled to international prices of petrol and diesel. But there is usually a two or three-month time lag between buying and processing of crude by OMCs. If global prices go up during this period, OMCs reap inventory gains. Conversely, if international prices fall, they could suffer inventory losses.<br /><br />Indian Oil reported inventory gains of Rs 7,866 crore in the April-June quarter of the current fiscal. It had earned inventory gains of Rs 3,442 crore in the preceding quarter.<br /><br />HPCL&rsquo;s inventory gains jumped 12 times to Rs 1,905 crore from the previous quarter. BPCL saw its inventory gains rise six-fold to Rs 2,679 crore.<br /><br />Helped by inventory gains, Indian Oil&rsquo;s net profit increased by over 30% to Rs 6,831 crore from the preceding quarter. Indian Oil&rsquo;s financial results beat market estimates for April-June period. Net profit would have been even higher if the company had not suffered forex loss of Rs 1,805 crore.<br /><br />IOC earned a gross margin of $10.2 on every barrel of crude that it processed during the April-June quarter, higher than $9.1 per barrel that it had reported during the preceding quarter.<br /><br />The central and state governments too have reaped huge gains from the petroleum sector in recent years. The Centre earned Rs 2.84 lakh crore in taxes from the petroleum sector during 2017-18, more than double what it got in 2014-15. It also mobilised Rs 14,575 crore in dividend from oil PSUs in 2017-18. The figure would have been even bigger if ONGC had not forked out nearly Rs 37,000 crore to buy the Centre&rsquo;s stake in state-owned refiner HPCL.<br /><br />Please <a href="https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government" title="https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government" class="re" target="_blank">TheWire.in, 11 September, 2018, https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government</a><div class="clear"></div>
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Indian Oil, BPCL and HPCL together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied.

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    <h1 class="cat-box-title">As Consumers Reel from High Fuel Prices, OMCs Make a Killing Off Inventory Gains -Noor Mohammad</h1>
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                            <div align="justify">-TheWire.in<br /><br /><em>Indian Oil, BPCL and HPCL together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied.<br /><br />New Delhi: </em>Indian consumers of petrol and diesel may be reeling under high prices but oil marketing companies (OMCs) and the government are having a great time.<br /><br />The three state-owned companies &ndash; Indian Oil, BPCL and HPCL &ndash; together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied.<br /><br />OMCs are entitled to international prices of petrol and diesel. But there is usually a two or three-month time lag between buying and processing of crude by OMCs. If global prices go up during this period, OMCs reap inventory gains. Conversely, if international prices fall, they could suffer inventory losses.<br /><br />Indian Oil reported inventory gains of Rs 7,866 crore in the April-June quarter of the current fiscal. It had earned inventory gains of Rs 3,442 crore in the preceding quarter.<br /><br />HPCL&rsquo;s inventory gains jumped 12 times to Rs 1,905 crore from the previous quarter. BPCL saw its inventory gains rise six-fold to Rs 2,679 crore.<br /><br />Helped by inventory gains, Indian Oil&rsquo;s net profit increased by over 30% to Rs 6,831 crore from the preceding quarter. Indian Oil&rsquo;s financial results beat market estimates for April-June period. Net profit would have been even higher if the company had not suffered forex loss of Rs 1,805 crore.<br /><br />IOC earned a gross margin of $10.2 on every barrel of crude that it processed during the April-June quarter, higher than $9.1 per barrel that it had reported during the preceding quarter.<br /><br />The central and state governments too have reaped huge gains from the petroleum sector in recent years. The Centre earned Rs 2.84 lakh crore in taxes from the petroleum sector during 2017-18, more than double what it got in 2014-15. It also mobilised Rs 14,575 crore in dividend from oil PSUs in 2017-18. The figure would have been even bigger if ONGC had not forked out nearly Rs 37,000 crore to buy the Centre&rsquo;s stake in state-owned refiner HPCL.<br /><br />Please <a href="https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government" title="https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government" class="re" target="_blank">TheWire.in, 11 September, 2018, https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government</a><div class="clear"></div>
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As Consumers Reel from High Fuel Prices, OMCs Make a Killing Off Inventory Gains -Noor Mohammad

Published on Sep 11, 2018   Modified on Sep 11, 2018

-TheWire.in Indian Oil, BPCL and HPCL together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied. New Delhi: Indian consumers of petrol and diesel may be reeling under high prices but oil marketing companies (OMCs) and the government are having a great time. The three state-owned companies – Indian Oil, BPCL and HPCL – together made inventory gains of over Rs 12,000 crore in the April-June 2018 quarter alone as the price of crude rallied. OMCs are entitled to international prices of petrol and diesel. But there is usually a two or three-month time lag between buying and processing of crude by OMCs. If global prices go up during this period, OMCs reap inventory gains. Conversely, if international prices fall, they could suffer inventory losses. Indian Oil reported inventory gains of Rs 7,866 crore in the April-June quarter of the current fiscal. It had earned inventory gains of Rs 3,442 crore in the preceding quarter. HPCL’s inventory gains jumped 12 times to Rs 1,905 crore from the previous quarter. BPCL saw its inventory gains rise six-fold to Rs 2,679 crore. Helped by inventory gains, Indian Oil’s net profit increased by over 30% to Rs 6,831 crore from the preceding quarter. Indian Oil’s financial results beat market estimates for April-June period. Net profit would have been even higher if the company had not suffered forex loss of Rs 1,805 crore. IOC earned a gross margin of $10.2 on every barrel of crude that it processed during the April-June quarter, higher than $9.1 per barrel that it had reported during the preceding quarter. The central and state governments too have reaped huge gains from the petroleum sector in recent years. The Centre earned Rs 2.84 lakh crore in taxes from the petroleum sector during 2017-18, more than double what it got in 2014-15. It also mobilised Rs 14,575 crore in dividend from oil PSUs in 2017-18. The figure would have been even bigger if ONGC had not forked out nearly Rs 37,000 crore to buy the Centre’s stake in state-owned refiner HPCL. Please click here to read more.

TheWire.in, 11 September, 2018, https://thewire.in/energy/fuel-price-hike-omc-narendra-modi-government

Tagged with: Fuel Inflation Fuel Prices Oil Marketing Companies (OMCs)

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