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Tuesday, June 8, 2010

Essar Oil to quicken retail push if fuel pricing freed

Private retailer Essar Oil will speed up planned expansion of its retail network if the government decides to deregulate fuel prices, a senior company official said on Tuesday.

S. Thangapandian, head of marketing, said Essar plans to increase its retail network to 1,700 by end-March from the current 1,342.

"Speed of planned expansion will be quicker if fuel prices are decontrolled . It (expansion) may happen by January instead of March,"

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Jul 09
22:30 10-Year Note Auction 1 4.362% 4.421%
23:30 FOMC Minutes 3
Thursday, Jul 10
04:15 Visitor Arrivals (YoY) 1 6.1% 18.8%
04:31 RICS Housing Price Balance 1 -7% -8% -7% Revised from -8%
18:00 Initial Jobless Claims 4-week average 1 241.5K
18:00 Initial Jobless Claims 2 235K 233K
18:00 Continuing Jobless Claims 1 1.980M 1.964M
19:30 Fed's Musalem speech 2
20:00 EIA Natural Gas Storage Change 1 56B 55B
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