Big news for public sector Oil Marketing Companies: Cabinet approval of Rs 22,000 crore likely | Exclusive
Big news for public sector Oil Marketing Companies: The allocation will be a big bonanza for the oil marketing companies like Indian Oil Corporation Ltd. (IOCL), Hindustan Petroleum Corporation Ltd. (HPCL) and Bharat Petroleum Corporation Ltd. (BPCL).
Big news for public sector Oil Marketing Companies: In a big relief to public sector oil marketing companies, the cabinet is likely to approve an allocation of Rs 22,000 crore in the meeting today. Prime Minister Narendra Modi will chair the union cabinet meeting at 10:30 am at his official residence.
The allocation will be a big cash bonanza for the state-run oil companies for the losses they have been bearing by selling LPG gas at below-market rates. The decision will benefit Indian Oil Corporation Ltd. (IOCL), Hindustan Petroleum Corporation Ltd. (HPCL) and Bharat Petroleum Corporation Ltd. (BPCL).
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