The Oil Ministry had requested ₹35,000 crore in LPG compensation for the financial year 2024-25 (FY25). Up until the first nine months of 2024-25, the total LPG under-recoveries of the three major oil marketing companies (OMCs) — Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL) — stood at ₹29,223 crore. IOC reported under-recoveries of ₹14,300 crore, HPCL had ₹7,600 crore, and BPCL recorded ₹
7,300 crore.
Also Read | HPCL, BPCL shares fall as FY25 supplementary demand has no LPG compensation provisionThese losses rose sharply, increasing by nearly 67% in the October-December 2024 quarter compared to the first half of 2024-25. Since the compensation was not announced in the Union Budget, it was expected to be included in the second supplementary demand. However, the latest submission does not contain any such provision.
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