IOCL

IOC's head of finance, Anuj Jain, has said his company will continue to buy Russian oil if the barrels are in compliance with sanctions

The state-backed refiner, India's largest, is seeking grades from the US, Canada, Brazil and Latin America

Indian Oil Corporation's (IOC) transformative project SPRINT has started to show results with improved operational performance at refineries and the company is regaining leadership position in fuel retail expansion, Chairman Arvindar Singh Sahney said. India's largest oil firm in April unveiled Project SPRINT that looks to make the firm future-ready by fashioning businesses to meet changing global energy landscape and stay relevant and profitable. SPRINT stands for strengthening core businesses of oil refining, petrochemicals and fuel marketing, propel cost optimisation to increase profitability, reinforce customer centricity, integrate technology and innovation, nurture leadership and talent, and be transition-ready. IOC called SPRINT a transformation project that will keep the firm rooted in its core strengths, while at the same time preparing for an eventual transition away from fossil fuels. "To sustain leadership in a changing energy landscape, the company must evolve with spe

IOCL share price: Indian Oil Corp shares were volatile as June-quarter profit nearly doubles but misses estimates

This is a flagship initiative being launched by the Government of India under the aegis of the Ministry of Petroleum and Natural Gas (MoPNG)

The Cabinet approved ₹30,000 crore compensation for IOCL, BPCL and HPCL to cover domestic LPG losses, ensuring affordable supply and financial stability for PSU oil firms

Oil & Gas stocks declined in trade after US President Donald Trump threatened to raise tariffs in Indian imports over the purchase of a "massive" amount of Russian crude oil

BPCL, HPCL, IOC, Asian Paints, and other downstream oil companies' stock surged, while ONGC, Oil India dropped after Brent crude oil slipped 5 per cent

BPCL, HPCL, IOC, Asian Paints and other downstream oil companies' stock fell, while ONGC, Oil India rose after Brent crude oil spiked 13 per cent

Indian Oil Corporation withdraws Rs 3,000 crore bond offer as yield crosses expected levels, despite strong demand and competitive pricing post-policy announcement

Targets $4 billion of capex in FY26, up from $3.71 billion last year

Petroleum Ministry officials say long-term solutions are needed as global LPG prices rise and subsidy burdens on OMCs become increasingly unsustainable

Falling expenses, inventory gains, relatively stable GRMs helped push up net profit

This strategic partnership between IOCL and Novac Technology Solutions signifies a monumental leap forward in workforce development and learning innovation within the energy sector

Despite growing sales and exports, lower crude prices pulled down revenue to Rs 2.19 trillion

DEE Development Engineers, a piping solutions provider, expects its revenue to triple to around Rs 2,400 crore in the next three to five years as it embarks on its next phase of growth, the company's Chairman and Managing Director (CMD) Krishan Lalit Bansal said. The company, which reported a revenue of Rs 785 crore in 2023-24, is expecting higher revenue in the current financial year, Bansal said during an interaction here. DEE Development Engineers has launched its new facility in Anjar with an investment of Rs 250 crore. The facility, with an initial capacity of 12,000 tonnes per annum, is expected to be ramped to 27,000 tonnes per annum by September this year. The company also plans to come up with a Rs 90-crore seamless pipe manufacturing facility in Anjar by December this year, Bansal added. This unit will have an annual production capacity of 7,000 metric tonnes. "We are putting up a specialised forged seamless pipe plant also. The pipes produced out of that shall primarily

The government is likely to provide a subsidy of Rs 35,000 crore to state-owned Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) to make up for losses they incurred on selling the fuel this fiscal, sources said. The three fuel retailers have kept the price of domestic LPG unchanged at Rs 803 per 14.2-kg cylinder since March 2024 despite a rise in input raw material cost. This led to under-recoveries on LPG sales, and the resultant drastic fall in their earnings in the April-September (first half of current 2024-25 fiscal year). The total under-recovery on LPG sales for the industry in the current fiscal is estimated at about Rs 40,500 crore. Against this, the government is likely to provide Rs 35,000 crore in total spread over two financial years, two sources with knowledge of the matter said. IOC, BPCL and HPCL are likely to get Rs 10,000 crore during the current 2024-25 fiscal and the remaining Rs 25,000 cror

The setting up of the yarn project is approved to be done in a 50:50 Joint Venture (JV) with MCPI Pvt. Ltd. The Oil India's equity contribution of towards the project stands at Rs 657.33 crore

IOCL reported a net loss of Rs 169.58 crore as compared to a net profit of Rs 13,114.3 crore in Q2FY24

Higher expenses, lower sales pulled down revenue to Rs 1.98 trillion