While H1FY24 saw Indian oil marketing companies experience multi-year high refining and marketing margins, Q3FY24 is expected to be a weak quarter due to headwinds in both the marketing and refining segments.Nomura expects OMC oil refining margins to decline sharply on a sequential basis in the third quarter, mainly due to the decline in middle distillate and gasoline spreads. The brokerage noted the sharp 43% QoQ drop in Benchmark Singapore refining margins. The fall in spreads could also…
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Net Profit, Ebitda May Fall On Lower Refining Margins
