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March 2, 2001 | Feedback |
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Sector Focus : RefiningRefining industry: Post-budget Refining: State of the industry (2000-01) Crude oil and petroleum products: Tariffs, prices and landed costs
n.a.: Not available 1 Price per kl Notes:
1) In 2000-01, duties on the products and crude oil are with effect from October 2000. Source: CRIS INFAC
Refining: Budget impact Impact factors
Note: Figures in brackets indicate the closing share prices, on February 27, 2001 and February 28, 2001, respectively. pos= positive neg= negative neut= neutral Source: CRIS INFAC A: The increase in the excise duty on MS and HSD would result in an increase in the oil pool deficit, since consumer prices have not been increased. This would have a marginally negative impact on the players, since receivables from the oil pool account would increase. APM is to be dismantled by April 2002, as per the scheduled programme announced in 1997. B: The increase in the customs duty on LPG and SKO is expected to result in an increase in the margins of the refineries. IBP, which is a stand-alone marketing company, would not benefit from the increase in the customs duty. C: The reduction of surcharge on corporate tax, from 13 per cent to 2 per cent and the expected decline in interest rates, is expected to have a significant positive impact on oil companies (with the exception of MRPL), due to their relatively large tax outflows. Rediff-CRISIL Budget Impact Analysis
Disclaimer: CRISIL has taken due care and caution in compiling this report. Information has been obtained by CRISIL from sources which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. CRISIL is also not responsible for any errors in transmission and especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of its web site. |