India’s biggest private sector exploration and production company, Cairn India, has again sought approval to supply fuel to the Jamnagar, Gujarat-based special economic zone (SEZ) refinery of Reliance Industries (RIL). The company currently sells 80,000 barrels per day or 4 million tons a year of crude from Rajasthan to RIL's domestic tariff area (DTA) refinery at Jamnagar and another 70,000 bpd to Essar Oil's Vadinar unit in Gujarat. Meanwhile, besides RIL and Essar refineries, it sells 15,000-20,000 bpd of Rajasthan crude to IOC.
However, as output from Rajasthan is set to rise, the company wants to sell this surplus oil to RIL only-for-exports or SEZ refinery, which is placed adjacent to the firm's DTA unit. Further, highlighting the quality characteristic of Rajasthan crude oil, Cairn India, in its letter to the Petroleum Ministry has underscored the ability of PSU buyers (IOC’s Panipat and Koyali refineries) only to off take part of the production, resulting in high dependence on private refineries for ensuring continuous production.
In earlier exchanges, the government had expressed hesitation over the deal on account of loss in revenues as supplies to an SEZ are exempt from central sales tax (CST) and cess payments. However, Cairn has debated that stopping production would cost the government more than supplying to the SEZ.
| Company Name | CMP |
|---|---|
| ONGC | 245.45 |
| Oil India | 507.20 |
| Jindal Drilling&Inds | 744.70 |
| Hind Oil Exploration | 187.30 |
| Deep Industries | 504.55 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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