State-run OMCs face margin pressure: Rating agencies

India's state-owned oil marketing companies, Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd, are under pressure from rising global crude and gas prices, limited domestic fuel price pass-through and dependence on imported energy, global rating agencies said.

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India imports 88% of its crude and nearly half its natural gas, with 30% to 55% of supplies passing through the Strait of Hormuz. Strategic petroleum reserves cover just 10 days of consumption, while commercial stocks provide around 65 days, leaving oil marketing companies (OMCs) exposed to supply disruptions.