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Just when Indian Oil Corporation is on a roll after the successful commissioning of the 15 MMTPA Paradip refinery, the sharp flare up in crude prices has evoked fears of a rollback of deregulation by a government fearful of the political fallout of high retail prices.
The website carries here a series of projections on the company’s fundamentals over the next two years
But that is assuming nil under-recoveries
Any potential imposition of subsidies will act as a drag on earnings
Regulatory change in the form of a reduction in duty protection will lower refining margins.

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