{"id":3512,"date":"2015-02-25T08:19:17","date_gmt":"2015-02-25T08:19:17","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=3512"},"modified":"2015-08-21T11:52:54","modified_gmt":"2015-08-21T11:52:54","slug":"omc","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/omc\/","title":{"rendered":"OMC"},"content":{"rendered":"<p>The under-recovery by the public sector Oil Marketing Companies (OMCs) on the sale of subsidized diesel, LPG and kerosene is Rs 51,110 crore in Q1 &#038; Q2 of the current financial year. In the next two quarters, this is estimated to be Rs 26,491 crore (total for year 2014-15 is Rs 77,601 cr) due to fall in crude price. <\/p>\n<p>This burden is shared amongst oils sector PSUs and the central government, and the sharing-formula is derived every year, and some unmet demand is carried forward. For example, in the previous financial year 2013-14, the unmet under-recovery was Rs 35,000 crore which was carried forward to the current year.<\/p>\n<p>The oil ministry has now moved a proposal under which the upstream companies do not have to share the burden if the price of crude is $60\/bbl, and 85 per cent will be shared if price is between $60-100\/bbl, and 90 per cent share if price is above $100\/bbl. <\/p>\n<p><a href=\"http:\/\/livemedia.press\/subscribe\/\" target=\"_blank\"><img decoding=\"async\" class=\" alignright\" src=\"http:\/\/telecomlive.in\/web\/wp-content\/uploads\/2015\/05\/read-more.gif\" alt=\"http:\/\/telecomlive.in\/web\/wp-content\/uploads\/2015\/05\/read-more.gif\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The under-recovery by the public sector Oil Marketing Companies (OMCs) on the sale of subsidized diesel, LPG and kerosene is Rs 51,110 crore in Q1 &#038; Q2 of the current financial year. In the next two quarters, this is estimated to be Rs 26,491 crore (total for year 2014-15 is Rs 77,601 cr) due to fall in crude price. This burden is shared amongst oils sector PSUs and the central government, and the sharing-formula is derived every year, and some unmet demand is carried forward. For example, in the previous financial year 2013-14, the unmet under-recovery was Rs 35,000 crore [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3513,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[119],"tags":[],"class_list":["post-3512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-magazinenews"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/3512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=3512"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/3512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media\/3513"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=3512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=3512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=3512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}