Oil companies told not to open new retail outlets
Sujay Mehdudia Ministry cites losses on account of under-recoveries NEW DELHI: Indicating a "crunch' in supply of petrol and diesel, the Petroleum and Natural Gas Ministry has asked the oil marketing companies (OMCs) to put on hold their plans to open new retail outlets. Citing losses on account of under-recoveries on sale of petrol and diesel, the Ministry has asked the OMCs, who own around 37,000 petrol stations around the country, to immediately stop expansion plans till further directions.