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.