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Indian Oil Corporation Ltd
State-owned Indian Oil Corporation (IOC) ramped up liquefied petroleum gas production by nearly 30 per cent and kept its refineries operating above 100 per cent utilisation as disruptions to maritime trade through the Strait of Hormuz threatened India's energy supplies, its chairman said on Monday. The company also diversified crude sourcing, realigned refinery operations and secured alternative supplies as the escalation of conflict in West Asia disrupted global energy markets, IOC chairman Arvinder Singh Sahney said in his address to the company's 67th annual general meeting. "For IndianOil, the priority during this unprecedented crisis has remained crystal clear - to maintain continuity of energy supplies despite constrained sourcing options and volatile international markets," he said. India imports more than 88 per cent of its crude oil requirement, while about 45 per cent of its crude imports and nearly 90 per cent of LPG imports are linked to the Strait of Hormuz, underscorin
Indian Oil Corporation (IOC), the nation's largest oil firm, on Saturday said there was no overall shortage of petrol and diesel in the country and described fuel outages reported at some retail outlets as "highly localised" and temporary, caused by regional demand-supply mismatches and shifting sales patterns. The state-owned fuel retailer said higher demand at certain outlets was driven by a seasonal rise in diesel consumption during the harvesting season, migration of customers from private pumps where retail prices were relatively higher, and increased institutional purchases at public sector outlets as bulk fuel supplies were being priced in line with elevated international rates. The company said petrol sales during May 1-22 rose 14 per cent year-on-year, while diesel sales increased around 18 per cent, reflecting "sustained and exceptionally high" growth in demand that it continued to meet across the country. In a statement, IOC said it "wishes to reassure customers and the .
A wage-related dispute between LPG transporters and their drivers at Indian Oil Corporation Ltd's bottling plant at Budge Budge in West Bengal's South 24 Parganas district escalated into a protest. The agitation, which occurred on Tuesday night, temporarily disrupted production and triggered sharp political reactions. Senior BJP leader Suvendu Adhikari, who is also the leader of the opposition in the state assembly, in a post on X, alleged that the incident reflected the growing lawlessness and "syndicate culture" under the Trinamool Congress (TMC) regime. He also shared two videos showing protesters releasing LPG from cylinders, triggering panic in the area. PTI could not independently verify the authenticity of the videos. "Yesterday's protest, where enraged workers released gas from cylinders onto the streets, could have turned catastrophic. A single spark could have ignited a massive fire, potentially engulfing the entire bottling plant, the nearby Budge Budge Institute of ...
Indian Oil Corporation (IOC), the nation's largest oil firm, has signed a USD 7-9 billion deal to import LNG from UAE on a long-term 14-year contract. IOC signed a long-term deal to receive 1.2 million tonnes per year of LNG from the United Arab Emirates beginning 2026 for 14 years. "ADNOC Gas has signed a 14-year sales and purchase agreement with Indian Oil Corporation Ltd (IOC) for the export of up to 1.2 million tonnes per annum (mtpa) of Liquefied Natural Gas (LNG) to India's largest integrated and diversified energy company which will be supplied from Das Island liquefaction facility," ADNOC Gas said in a statement. The deal was signed on the sidelines of India Energy Week here. "The agreement, valued in the range of USD 7 billion to USD 9 billion over its 14-year term signifies a major step forward in the partnership with IOC and we look forward to supporting India's plans to make gas 15 per cent of its primary energy basket by 2030," it added. The deal with IOC is the secon