Centre to compensate oil marketing companies
Faced with surging crude oil prices in the international markets and massive under-recoveries being incurred by the oil marketing companies (OMCs), the government has decided to compensate them by issuing oil bonds to the extent of 50 per cent against incurring under-recoveries during 2007-08 on sale of petrol, diesel, kerosene and domestic LPG at subsidised prices.
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