Date:02/03/2006 URL: http://www.thehindubusinessline.com/2006/03/02/stories/2006030202290500.htm

Back `Marginal relief to oil industry'

Our Bureau

Kolkata, March 1

Mr S.K. Joshi, Executive Director (corporate treasury) of Bharat Petroleum, said the Budget did not have enough to offer to the oil industry.

Reduction in CST on LPG will offer a relief of Rs 5-10 per cylinder, which the company will retain. The relief, however, will be minimal compared with Rs 190 subsidy now being offered per cylinder. Naphtha prices are expected to fall, thereby impacting the earnings. Concessional project rate of 10 per cent will reduce the project cost of Bina refinery.