POOR BUYING BY IOC PRESSURES ASIAN DIESEL, KEROSENE PRICES
Article Abstract:
The Indian Oil Corporation (IOC) has cancelled its tender to acquire 1.0 percent sulphur diesel scheduled to arrive in December 1998. IOC has awarded only one cargo each of 0.25 percent diesel and superior kerosene oil for December 1998. The tenders have been awarded to Glencore of Switzerland. This has put pressure on Asian diesel and kerosene prices. Traders were anticipating IOC to award at least six cargoes of diesel and kerosene as India's demand for diesel rises to a peak in post monsoon months. In November 1998, IOC bought one cargo of diesel and 300,000 tonnes of kerosene oil. During November-December 1997, IOC had purchased 17 cargoes of diesel amounting to 765,000 tonnes. (nr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CASTROL (I) FIRST NINE MONTHS NET AT Rs126.72 CRORE
Article Abstract:
Castrol India Ltd has recorded a net profit of Rs126.72 crore during January-September 1998 (Rs117.63 crore during January- September 1997). It has registered a 6 percent growth in sales at Rs764.54 crore (Rs721.6 crore) while its other income increased by 19 percent to Rs15.42 crore. The company has declared a second interim dividend of Rs7 per share taking cumulative interim dividend to Rs13 per share. (gs)
Comment:
Castrol India Ltd has recorded a net profit of Rs126.72 crore during January-September 1998 (Rs117.63 crore during January- September 1997).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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