Fitch: Indian OMCs, GAIL may face cash-flow pressure amid Iran tensions and oil price rise

Indian oil marketing companies (OMCs) and state-run GAIL (India) could face cash flow issues if supply disruptions continue amid the war in West Asia, elevated oil prices, and closure of the strategic Strait of Hormuz, according to Fitch Ratings.

However, while near-term credit of Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL), and Indian Oil Corporation (IOC) may weaken, their ratings remain unchanged due to strong government support, it added, as per a PTI report.