Linking under-recoveries to export prices nonviable for oil marketing cos: IOC
By Prashant R Nair | Published On: January 07, 2013 09:40 (IST) | Duration: 8 min, 48 sec
According to a report by an Indian newspaper, the government is considering working out the subsidy entitlement of oil marketing companies (OMCs) according to 100 per cent export-parity pricing. PK Goyal, director of finance at Indian Oil Corp, says that this move would push most refineries into very heavy losses and make them nonviable.
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