High marketing margins help trim OMCs’ debt by half
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For OMCs like Indian Oil, daily gross marketing margin on auto fuels stands at over ₹3 per litre.
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Oil marketing companies (OMCs) have raised marketing margins in a year of rising fuel prices, helping them reduce debt by nearly half in just a year.
For OMCs such as Indian Oil Corp. Ltd (IOCL), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL), daily gross marketing margin on auto fuels now stands at over ₹3 per litre. The debt reduction thanks to better margins assumes significance against the backdrop of the current privatization of BPCL.
BioLargo, Inc.: BioLargo Strengthens Balance Sheet by Eliminating Debt as its Commercial Activities Expand
WESTMINSTER, CA / ACCESSWIRE / March 2, 2021 / BioLargo, Inc. (OTCQB:BLGO), a developer of sustainable technologies and full-service environmental engineering company, announced today that it had paid off $650,000 in debt, the bulk of which was scheduled to mature in August of 2021. Other than debt owed by its partially owned subsidiary Clyra Medical, only SBA loans and fixed-price convertible debt remain on BioLargo s balance sheet. Of the SBA loans, management expects all but the $150,000 EIDL 30-year 3.75% APR loan to be forgiven. Of the fixed price convertible debt, $100,000 will convert to equity automatically at the April 20, 2021 maturity date, the $406,000 due in August 2021 may be converted by the investors at a fixed price of $0.14 at any time, and $50,000 is due in two years.
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BACOLOD. Bacolod City Mayor Evelio Leonardia. (File photo)
+ March 02, 2021 BACOLOD City Mayor Evelio Leonardia has ordered the Permits and Licensing Division to thoroughly check the pawnshops and lending institutions in Bacolod that failed to secure closed-circuit television (CCTV) cameras.
Leonardia said Tuesday, March 2, that the Permits and Licensing Division should check these business establishments and determine their violations.
Police Colonel Manuel Placido, director of Bacolod City Police Office (BCPO), earlier sent a letter to Permits and Licensing Division head Stella Rose Rayos, informing her that around 13 pawnshops and lending institutions violated City Ordinance (CO) 600 Series 2002 of Bacolod City based on their security survey conducted in various areas of Bacolod.
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