(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?
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 :
OMCs
Total borrowings as on
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
(b) Details of borrowings availed for working capital in the last three years in respect of OMCs are as under :
31 Mar 2013
(? crores)
31 Mar 2014
(? crores)
31 Mar 2015
(? crores)
…2…
OMCs
Working capital loans as on
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
-2-
(c) Details of foreign currency loans in the past three years in respect of OMCs are as under :
31 Mar 2013
(? crores)
31 Mar 2014
(? crores)
31 Mar 2015
(? crores)
(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
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