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Oil companies to decide the profit of oil sales

Published on December 13, 2013 at 11:18

Oil companies to decide the profit of oil sal


New Delhi: The government of India has granted oil companies the power to decide the profit of oil sales made by them. Urea production centers and LPG plants are exempted from this category. This new offer will be benefitting the giant natural gas producers like Reliance, Gail India etc. It was only during the last month that the government  made such an order which enables the oil companies to decide the sales profit of oils and natural gas. As per this,  the profit matters can be decided by the respective companies with their consumers. The issues regarding this are to be dealt by the Petrol and natural gas regulatory board (PNGRB) or competition commission of India. Urea and LPG sectors are not affected by this new rule.

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