Rs 8 billion loss to oil marketing companies

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Rs 8 billion loss to oil marketing companies

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21 August,2009 04:39 pm

Oil marketing companies (OMC) got losses of Rs 7.6 billion during fiscal year 2008-2009. Performance of OMC sector remained under pressure due to decreasing value of crude oil. Sale of petroleum products reduced by 8 percent due to slow business activities. However, sale of furnace oil increased by seven percent as compared to last year due to energy crisis. Profit of the OMC sector lessened by 135 percent during this fiscal year.