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Oil & Gas
Rising crude prices have resulted in mounting under recoveries for the oil marketing companies (OMCs), which is
expected to be ~`70,000cr in FY2011. The burden on OMCs could be higher in FY2012 if the crude stabilises at
current levels. We expect the budgetary measures to be focused p g y on addressing these burdens by way of reducing
duties on crude oil and petro products and allocating higher amount of cash compensation. However, we do not
see material positives from these measures as these could only reduce the already mounting losses of the OMCs.
We also expect some clarity over the tax holiday to the natural gas producers who were awarded blocks during the
NELP I-VII rounds.
Overall, the Budget is expected to be Neutral for the Sector.
Top Picks
GAIL
GSPL
Gujarat Gas
IGL
ONGC
RIL
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Oil & Gas
Rising crude prices have resulted in mounting under recoveries for the oil marketing companies (OMCs), which is
expected to be ~`70,000cr in FY2011. The burden on OMCs could be higher in FY2012 if the crude stabilises at
current levels. We expect the budgetary measures to be focused p g y on addressing these burdens by way of reducing
duties on crude oil and petro products and allocating higher amount of cash compensation. However, we do not
see material positives from these measures as these could only reduce the already mounting losses of the OMCs.
We also expect some clarity over the tax holiday to the natural gas producers who were awarded blocks during the
NELP I-VII rounds.
Overall, the Budget is expected to be Neutral for the Sector.
Top Picks
GAIL
GSPL
Gujarat Gas
IGL
ONGC
RIL
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