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Energy Public sector oil marketing companies facing cash crunch |
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The public sector oil marketing companies are fast running out of cash needed to keep their operations going, say sources in these companies.
The cash crunch is adding a new dimension to the problem of under-recoveries in the domestic sale of petroleum products that these oil PSUs — IndianOil (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) — suffer in the backdrop of relentless rise in crude prices. Indeed, these sources go so far as to say, “2008-09 to b ...
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