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BPCL versus HPCL: Which is better - II?

Apr 4, 2012

Equitymaster compares to key players - BPCL and HPCL in the domestic downstream oil and gas sector.

BPCL versus HPCL: Which is better?

Mar 28, 2012

Equitymaster compares to key players - BPCL and HPCL in the domestic downstream oil and gas sector.

Oil prices - What next?

Sep 2, 2011

We believe the recent slide in oil prices to be temporary and expect them to stay above US$ 100 for the rest of the year.

Fuel price deregulation - Reading the fine print

May 20, 2011

Considering rate of inflation, diesel deregulation is an unlikely option in the near future.

Deregulation:A losing proposition for Public Oil Marketing Companies

Mar 2, 2011

Public OMCs are better off with full under recovery compensation than fuel price deregulation

Oil bonds: Defusing the ticking time bombs

Jan 5, 2011

Substituting oil bonds with cash subsidies to compensate OMCs for under recoveries will lead to better monitoring of subsidies and will ensure fiscal discipline.

Oil prices at OPEC's mercy?

Dec 14, 2010

Despite oil prices touching two year highs, OPEC (Organization of petroleum exporting countries) is unlikely to ease production limits thus hampering developed nations economic recovery

Fuel subsidy woes - to be continued...

Dec 8, 2010

The confusion over oil price subsidy is the biggest factor hampering the growth of energy industry in India.

Fuel prices to go up

Jun 25, 2010

Political compulsions will take over now that the empowered group of ministers has decided on fuel price hikes.

Budget wish list: Oil & Gas

Jun 22, 2009

It would be an understatement to say that the fortune of the Indian oil and gas sector is extremely sensitive to government policies. With the date of the Union Budget 2010 fast approaching, the industry is eagerly anticipating measures which will encourage profitable activity. Let us look at some of the key expectations:

ONGC: Exploring dividends

Mar 19, 2009

In the previous article , we had discussed the application on Hindustan Unilever, of a frame work through which one could achieve returns entirely from dividends. In this article, we shall analyse ONGC's dividend record through the same frame work.

Oil & gas: Fates continue to differ

Aug 4, 2008

A value-chain describes the flow of activities within an industry. The oil and gas industry value chain is organised into exploration (upstream), transmission (midstream) and refining, petrochemicals and marketing (downstream).

Oil & gas: Same industry, different fates

Jun 30, 2008

A value-chain describes the flow of activities within an industry. The oil and gas industry value chain is organised into exploration (upstream), transmission (midstream) and refining, petrochemicals and marketing (downstream).

Fuel price hike: Impact on OMCs

Jun 5, 2008

The government's relief package to the PSU oil marketing companies (OMCs)- IOCL, BPCL and HPCL-announced on June 4, 2008 impacts many segments of the Indian economy. There are macro level implications on inflation and fiscal deficit along with micro level implications on companies in the banking, logistics, aviation, auto and FMCG sectors among others. In this article, we shall look at how the package affects the OMCs.

Fuel prices: India vis-a-vis the others

Feb 14, 2007

In the previous article, Petrol: What are we paying for?, we had a look at the different components that make up the domestic petrol prices. It was revealed that basic costs form only 48% of the selling price of the petrol and the remaining 52% was accounted for by taxes.

Petrol: What are we paying for?

Feb 12, 2007

Petroleum products have strongly pervaded our daily lives, more so diesel and petrol. We know that the oil marketing companies are losing money on the sales of these products due to high crude oil prices internationally. But have we ever thought about the break-up of the price we pay for these fuels. In this write-up, we have made an attempt to identify the different components of the price of petrol and throw some light on each of them.

Refining: A case for higher spreads!

Jan 10, 2007

While rising petroleum product prices have indeed been a cause of worry in recent times, the fact that this is not entirely crude price driven, makes us believe that they are likely to remain stronger on account of certain structural changes in the refining industry. Put otherwise, we believe that the spread between crude oil and product prices is likely to remain stronger than what it was historically. Here are a few reasons as to why we believe this would happen:

Refining industry: A complete overview- I

Dec 20, 2006

Crude oil is a mixture of scores of chemicals and compounds, primarily hydrocarbons. Crude oil must be broken down into its various components by distillation before these chemicals and compounds can be used as fuels or converted to more valuable products. For converting the basic hydrocarbon, crude, into refined consumer products we require refineries. The refined products are then ultimately sold to end-users. Thus on the basis of this, we classify the oil industry into two segments, first ups

Marketing of petroleum products: An overview

Oct 9, 2006

Marketing of petroleum products is set to witness a paradigm shift. Post deregulation of the sector, private players are entitled to open new outlets provided they fulfill certain investment condition. Ever increasing need and expectations of the customer is changing the operational economics of the retail outlet. Consumers are demanding more convenience in the form of comfort, product options and fleet-monitoring services. While retail outlets are heeding to them and revamping their operations

Private players in fuel marketing: A serious threat?

Oct 6, 2006

The marketing of petroleum products was solely with the public sector oil marketing companies (OMCs) prior to dismantling of the APM and deregulation of the downstream oil-marketing segment. IOC, BPCL, HPCL and IBP were the sole downstream players (OMCs) in the oil value chain. However, the sector was deregulated and opened up for the private players at the start of FY03. Reliance (RIL), Essar and Shell were amongst the key players to be granted marketing rights. With the entry of private player


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