Someone please explain how these companies are churning out profit year after year/ quarter after quarter; yet they want to pinch more from the common man. They say they want to increase the price of oil yet again. Why? Where are they siphoning this profit? If they were in loss, it should reflect in their financial statement.
The products obtained from 1 barrel of crude oil
Petrol - 73.8 1ltr
Diesel - 34.82 ltr
Jet fuel - 15.5 ltr
Furnace Oil - 8.7 ltr
Liquid gas - 7.19 ltr
Steel Gas - 7.19 ltr
Coal - 6.81 ltr
Bitumen - 4.92 ltr
Petrochemical feedstocks - 4.54 ltr
Lubricants - 1.89 ltr
Kerosene - 0.75 ltr
Others - 1.13 ltr
Is the government using the oil companies to take money for their own use?
Is this how they are worming out off every scam that they face?
Is this why no probe seems to bother them?
I had raised this doubt in one of my earlier post but I find no answers.
It is wired. It has been so for long. And even looking at the financials in your post, one can only wonder where have the money gone.
ReplyDeleteI guess that the media must get hold of the audited and unaudited final accounts of the oil cos for the last five years and publish it analysing with the help of expert analysts where and what is happening.
This quibbling has to be stopped.
When the fate of the ordinary Indian is linked to the oil prices in the domestic market and outside , it is vital that the matters of the oil Cos are known to us.
someone should ask them or make it an issue to fight..
ReplyDeletein many cases, the price of oil is determined by other parties. It is also the easiest way to collect large amounts of income for a government by way of tax and have the ire directed instead to the producer...
ReplyDeletenot sure if my previous comment came up for approval, but as i said there, it is one of the easiest way to obtain income by way of taxes and have the public ire directed against the producer!! the producer stomachs it due to increased profits...
ReplyDelete