Not upset, oil hike call can't be made in haste: IOC chairman - Economic Times

I’m not disappointed that EGoM couldn’t take a decision on fuel price hike. I understand its a sensitive matter. Such issues are not easy to decide in the first meeting itself. The government is aware that oil PSUs (public sector undertakings) are incurring losses on retail sale of petrol, diesel, PDS kerosene and LPG (cooking gas). They constitute over 60% of our total sales. The government also understands impact of a price hike. It has to strike a balance. Such issues may take several rounds of discussions, if required. I’m positive that the government will soon resolve this matter and it will be an amicable solution for all parties involved including customers.

Visit http://allstateinsuranceproducts.wordpress.com/

Due to global crude oil price fluctuation we made significant inventory gains. Besides, we improved our performance in all counts. A cash compensation from the government for our losses on selling fuel below cost was also a major relief. Though we had to absorb some of the subsidy burden.

for more information about Allstate insurance products News / Reviews

We’ll shortly be reviewing all such projects that have been put on hold. Yes, we have better cash reserves. But future (of financial performance) is still uncertain pending a policy decision by the government (on fuel pricing issues). It will be too early to name projects that will be revived.

Full Story: Not upset, oil hike call can't be made in haste: IOC chairman - Economic Times