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Crisil: OMCs' operating profit to fall 30% in FY25 due to softening diesel spread
The Business Guardian
|October 29, 2024
Marketing companies (OMCs) are expected to see a drop in operating profit to USD 12-14 per barrel in fiscal 2025 from USD 20 per barrel last fiscal, Crisil Ratings reported.
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The decline is primarily due to discounts on Russian crude oil, a softening of diesel spreads, and inventory losses, according to the market intelligence firm.
The report notes that stable retail fuel prices amid volatile oil prices will help support overall returns for the industry.
Despite the decrease, the operating profit will still be higher than the USD 9-11 per barrel average over the past decade through fiscal 2024. This will partially support OMCs' substantial capital expenditure (capex) requirements.
Esta historia es de la edición October 29, 2024 de The Business Guardian.
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