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OMCs provide monetary relief to compensate for higher input costs

The relief amount will be on the basis of feedstock such as relief of Rs1,493/kl for B-heavy molasses-based ethanol.

June 13, 2022 9:41 IST | India Infoline News Service
In a recent update, esteemed Oil Marketing Companies - HPCL, IOCL, and BPCL have decided to provide monetary relief to compensate for higher input costs.

The OMCs have announced a six-month relief scheme in order to support ethanol manufacturers who are witnessing high input costs, due to a surge in fuel and electricity costs. The relief package announced by the OMCs is applicable for all supplies of ethanol that are invoiced to OMCs between June 1, 2022, and November 30, 2022. The OMCs have decided to pay the relief amount to vendors after the end of each quarter.

The relief amount will be on the basis of feedstock such as relief of Rs1,493/kl for B-heavy molasses-based ethanol, Rs1,606/kl from sugarcane juice/sugar/sugar syrup-based ethanol, Rs1,179/kl for C-heavy molasses-based ethanol, Rs1,437 on surplus rice-based ethanol, and Rs2,337/kl for damaged food grain-based ethanol.

Nifty Oil & Gas was trading 2.56% lower at 7,812.30 points.

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