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OIL defies low world oil prices to score superb Q3 numbers

OIL defies low world oil prices to score superb Q3 numbers
Its total subsidy to the oil marketing companies (OMCs) was Rs 1,437.73 crore in the third quarter (October-December 2014) of 2014-15 compared to Rs 2,173.48 crore in the corresponding period of 2013-14.

The total subsidy payment during the first nine months of the fiscal was was Rs 5,522.58 crore compared to Rs 6,389.24 croe in the same period of 3013-14. This massive subsidy burden has adversely affected the profit after tax by Rs 3071.72 crore.

Oil India Ltd’s crude oil production during the third quarter of the current fiscal was was 0.878 MMT while the cumulative production for the first nine months of the financial year was 2.601 MMT.

The national company’s natural gas production was 688 mmscm during the third quarter and the cumulative production for the first nine months was 2,058 mmscm.

Due to lower international crude oil prices, the gross crude oil price realisation for the third quarter was lower by 30.69 per cent to $74.93/bbl compared to $108.11/bbl in the corresponding period of fiscal 2013-14. The net realisation was $37.39/bbl as compared to $52.11/bbl for the same period of FY14.

In rupee terms, the net realisation during the third quarter of 2014-15 was Rs 2315.56/bbl compared to Rs 3233.43/bbl during the same period of the previous financial year.
Agencies

Agencies

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