Lok Sabha Question No. 82 (UNSTARRED), answered on 2015-11-30
Subject: Reforms in Fuel Sector
Ministry: PETROLEUM AND NATURAL GAS
Asked by: Shrirang Appa Barne, SHIVAJI ADHALRAO PATIL, ANANDRAO  ADSUL, DHARMENDRA YADAV

## LOK SABHA UNSTARRED QUESTION NO.  82 TO BE ANSWERED ON 30 TH   NOVEMBER, 2015

## REFORMS IN FUEL SECTOR

82. SHRI  SHRIRANG  APPA BARNE :

SHRI  ADHALRAO  PATIL SHIVAJIRAO :

SHRI  ANANDRAO  ADSUL :

SHRI  DHARMENDRA  YADAV :

## isVªksfy;e vkSj izkd`frd xSl ea=h

Will the Minister of PETROLEUM AND NATURAL GAS be pleased to state:

- (a)  whether reforms in the fuel sector have helped three oil majors to reduce their debt level in the past three years and if so, the details thereof;
- (b)  whether fuel reforms helped in reducing working capital loan and if so, the details thereof;
- (c)  whether three oil majors have replaced their high cost debt with low cost foreign currency debt and if so, the details thereof; and
- (d)   the extent to which the oil majors cut their debt in 2014-15 as compared to 2013-14?

## ANSWER

isVªzksfy;e vkSj izkd`frd xSl ea=ky; esa jkT; ea=h -Lora= izHkkj ¼Jh /kesZUnz iz/kku½

## MINISTER OF STATE (INDEPENDENT CHARGE) IN THE MINISTRY OF PETROLEUM & NATURAL GAS (SHRI DHARMENDRA PRADHAN)

- (a)    Oil Marketing Companies (OMCs) have informed that reforms in the fuel sector coupled with softening of international crude prices have helped to reduce their debt level. The details of borrowing levels in respect of OMCs in the last three years are as under :
- (b)    Details of borrowings availed for working capital in the last three years in respect of OMCs are as under :

| OMCs   | Total borrowings as on   | Total borrowings as on   | Total borrowings as on   |
|--------|--------------------------|--------------------------|--------------------------|
| OMCs   | 31 Mar 2013 (₹ crores)   | 31 Mar 2014 (₹ crores)   | 31 Mar 2015 (₹ crores)   |
| IOCL   | 80,894.00                | 86,263.00                | 55,248.00                |
| BPCL   | 23,839.04                | 20,321.56                | 13,097.60                |
| HPCL   | 33,789.03                | 32,164.55                | 20,335.34                |

| OMCs                   | Working capital loans as on   | Working capital loans as on   | Working capital loans as on   |
|------------------------|-------------------------------|-------------------------------|-------------------------------|
| 31 Mar 2013 (₹ crores) | 31 Mar 2014 (₹ crores)        | 31 Mar 2015 (₹ crores)        |                               |
| IOCL                   | 56,971.00                     | 48,961.00                     | 16,982.00                     |
| BPCL                   | 18,058.42                     | 14,342.08                     | 6,340.83                      |
| HPCL                   | 25,031.09                     | 23,887.17                     | 9,970.31                      |

- (c)    Details of foreign currency loans in the past three years in respect of OMCs are as under :
- (d)    OMCs (IOCL, BPCL & HPCL) debt levels registered a fall of 35.95%, 35.55% and 36.78% respectively in FY 2014-15 as compared on FY 2013-14.

| OMCs   | Foreign Currency Loans as on   | Foreign Currency Loans as on   | Foreign Currency Loans as on   |
|--------|--------------------------------|--------------------------------|--------------------------------|
|        | 31 Mar 2013 (₹ crores)         | 31 Mar 2014 (₹ crores)         | 31 Mar 2015 (₹ crores)         |
| IOCL   | 45,936.00                      | 55,150.00                      | 35,610.00                      |
| BPCL   | 20,763.07                      | 16,475.16                      | 11,307.83                      |
| HPCL   | 33,789.03                      | 32,164.55                      | 20,335.34                      |

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