BPCL: Big boost from benign oil prices
A sharp decline in crude oil prices recently has brought cheer to oil marketing companies. RK Singh, CMD of BPCL, says under-recoveries on diesel are expected to be erased in six months on the back of gradual diesel price hikes coupled with lower crude oil prices and a firm rupee. However, he adds that since it is unlikely that oil prices will remain benign at current levels, it is hard to predict an exact timeline. Mr Singh also talks about exploratory upsides from BPCL's recent oil find in Mozambique.
