GOVERNMENT OF INDIA

MINISTRY OF PETROLEUM AND NATURAL GAS

LOK SABHA

UNSTARREDQUESTION NO: 140

ANSWERED ON: 18.11.2010

PROFITLOSS TO OIL COMPANIES 

(a) whether the public sector oil companies, which are selling in retail, are incurring losses during the last three years and current year; 

(b) if so, the details thereof, company-wise; 

(c) whether public sector oil companies, which are undertaing production and processing of crude oil are earning profits; 

(d) if so, the details thereof, company-wise; 

(e) whether the Government has carried out any study to ascertain the reasons behind the profits and the losses of these companies; and 

(f) if so, the details thereof?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS(SHRI JITIN PRASADA) 

 (a)(b): The Profit after Ta (PAT) of the Public Sector Oil Mareting Companies (OMCs) during the last three years and current year is given as under:            # #                                3                

0 3 -#   

)  #           0 #         ( 0           #  4            

 PAT of OMCs is after taing into account financial support from upstream oil companies and the Government.   (c)(d): The Profit after Ta (PAT) of the Public Sector Upstream Oil Companies during the last three years and current year is given as under:            # #                                3                

  #    

  .  #           

 ) ,            

), ) ,            

44,            

Note: PAT after taing into account financial support provided through price discounts to OMCs. 

 (e)(f): The Epert Group on a Viable and Sustainable System of Pricing of Petroleum Products had, inter-alia, eamined different aspects of the Oil PSUs performance, including their financial health. The Ministry reviews the performance of the oil PSUs, including matters relating to the financial health, on a regular basis.