Indian Oil Margins May Fall on Rising Crude Oil Prices
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Indian Oil Corp., the country’s biggest refiner, may post a decline in profit from turning crude into petroleum products because of rising oil prices.
State-run Indian Oil may post a refining margin of $5 a barrel for the three months ended December and $4 to $5 in the period ending March, Chairman B.M. Bansal said in Singapore today. That compares with $6.63 a barrel in the July-to-September quarter.