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Today’s Economic Times mentions that Reliance’s refining margin for this quarter has been around $8 per barrel. The international standard is around $1-1.5. To surprise you further ONGC’s per barrel exploration and production cost comes to around $8!!! So the question is how Reliance has managed such high level or refining margin? The margin is too high to be credited to efficiency alone. The reason is foolish government policy of taxation & exemptions, inefficiencies of public sector refineries & Cost plus pricing of oil products. And who is bearing the cost of government foolishness and inefficiencies??
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2 comments:
How come there is no comment by the "Reliance Staker" on the latest developments relating to reliance and its owners.
Reliance stalker is on a holiday in Rajasthan
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