{"id":521882,"date":"2022-09-14T11:18:28","date_gmt":"2022-09-14T05:48:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=521882"},"modified":"2022-09-14T12:55:54","modified_gmt":"2022-09-14T07:25:54","slug":"centre-plans-2-5-billion-compensation-to-oil-companies","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/centre-plans-2-5-billion-compensation-to-oil-companies\/","title":{"rendered":"\u2018Centre plans $2.5 billion compensation to oil companies\u2019"},"content":{"rendered":"<p>New Delhi: Aiming to shore up huge quarterly losses incurred by state-owned oil marketing companies (OMCs) like Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation, the government plans to pay them $2.5 billion as partial compensation, according to a Bloomberg report.<\/p>\n<p>The losses have been incurred by the OMCs as they absorbed international crude prices, however the report, quoting sources, said that while the Petroleum Ministry had sought a far greater amount, the Finance Ministry agreed only to $2.5 billion as a cash payout.<\/p>\n<p>The partial compensation to OMCs has also been planned to rein in cooking gas prices, the Bloomberg report said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: Aiming to shore up huge quarterly losses incurred by state-owned oil marketing companies (OMCs) like Indian Oil Corporation, Hindustan Petroleum Corporation, and Bharat Petroleum Corporation, the government plans to pay them $2.5 billion as partial compensation, according to a Bloomberg report. The losses have been incurred by the OMCs as they absorbed international crude prices, however the report, quoting sources, said that while the Petroleum Ministry had sought a far greater amount, the Finance Ministry agreed only to $2.5 billion as a cash payout. The partial compensation to OMCs has also been planned to rein in cooking gas [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[147,130,179],"tags":[],"class_list":["post-521882","post","type-post","status-publish","format-standard","hentry","category-greater-kashmir","category-newspapers","category-oil-gas-greater-kashmir"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/521882","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=521882"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/521882\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=521882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=521882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=521882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}