![]() Steven Keane (Executive Chairman) spoke exclusively to The Silicon Review. The firm also offers customized marketing solutions and represents owners of companies with enterprise values of $5m-$500m.īenchmark International was founded in 2006 and is headquartered in Tampa, Florida. Benchmark’s global offices provide business owners in the middle and lower-middle markets with services that enable them to grow and exit their businesses. The firm caters to wholesale, manufacturing, technology, agriculture, automotive, healthcare, energy, retail, professional services, and financial services. Companies are now merging more often than ever before, and all these actions have the same goal - to improve business performance.īenchmark International is one such company that specializes in offering services in the areas of mergers and acquisitions, company sales, exit and growth strategies, and valuations. Therefore, mergers and acquisitions have become relatively frequent events in the business world. China has seen crude oil imports fall 9 per cent last month as the country's zero-Covid policy has led to full or partial lockdowns in more than 70 cities since late August.Mergers and acquisitions (M&A) can help organizations become more efficient, profitable, and powerful. Some of the heat has come out of oil markets in recent weeks on fears of a recession snipping away demand. ![]() Brent was at USD 90.21 per barrel before the invasion and rose to a 14-year high of USD 140 on March 6. Initial price spikes turned into lingering price rises as the global community imposed sanctions on Russia's key exports. Russia's February 24 invasion of Ukraine sent shock waves through global energy markets. So, the oil companies recoup losses when input costs fall, the first official explained. Since then, the government does not pay oil firms any subsidy to compensate them for losses they might incur on selling fuel at rates below cost. Petrol was deregulated in June 2010 and diesel in November 2014. The freeze meant that the three retailers posted a combined net loss of Rs 18,480 crore in June quarter. It would have further spiked if petrol and diesel prices were increased in line with cost. Oil companies did not revise rates to help the government manage inflation which had already peaked to a multi-year high. The Rs 10 a litre increase, effected between March 22 and April 6, wasn't sufficient to cover the cost and the new freeze meant accumulation of more losses, officials said. This is down from Rs 105.41 a litre price on April 6 for petrol and Rs 96.67 a litre for diesel as the government cut excise duty to cool rates. Petrol currently costs Rs 96.72 a litre and diesel Rs 89.62 in the national capital. That freeze ended on March 22 this year and rates went up by Rs 10 per litre each in just over a fortnight before a new freeze came into effect from April 7. But they froze rates for a record 137 days beginning November 4, 2021, just as states like Uttar Pradesh went to polls. IOC, BPCL and HPCL are supposed to revise the retail price of petrol and diesel daily in line with cost. For diesel, it will take some time to reach that level," PTI quoted an official as saying. "There are no under-recovery (losses) on petrol now. These losses have been trimmed with the fall in oil prices. According to PTI, OMCs were losing Rs 20-25 per litre on diesel and Rs 14-18 a litre on petrol as international oil prices soared. State-owned fuel retailers Indian Oil Corporation ( IOC), Bharat Petroleum Corporation Ltd ( BPCL) and Hindustan Petroleum Corporation Ltd ( HPCL) have not exercised their right to adjust the retail selling price of petrol and diesel in line with the international costs for over five months now to help the government manage runaway inflation. It averaged USD 97.40 in August and USD 92.87 in September so far. Prices started to fall in July when the Indian basket averaged USD 105.49 a barrel. It had averaged USD 102.97 in April, before rising to USD 109.51 in the following month and USD 116.01 in June. The basket of crude oil that India imports averaged USD 88 per barrel on September 8.
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