Indian Oil

IOCL seeks up to 24 million oil barrels from Americas amid Russia curbs

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

Indian Oil to form trading JV with Vitol to expand global footprint

The partnership with Vitol will help Indian Oil cut crude-procurement costs from spot markets and improve margins through access to new buyers

Govt refiners eye smaller oil suppliers after US sanctions Rosneft, Lukoil

India has been balancing the risk of secondary sanctions - and the need to secure a trade deal with the US - against the risks that come with allowing much-needed ties to Russia to fray

Raising energy purchases from the US hinges on prices, say analysts

Experts say US grades face logistical, economic, and compatibility challenges with Indian refinery configurations

Indofast Energy joins hands with e-Sprinto to deploy 20k EVs by 2026

Battery-swapping solutions provider Indofast Energy on Thursday said it has tied up with e-Sprinto to deploy 20,000 electric two-wheelers in the country by 2026. The collaboration will integrate e-Sprinto's electric vehicles with Indofast Energy's battery-swapping network expanding across the country. The strategic rollout will revolutionize delivery operations across the quick commerce, e-commerce, and food delivery sectors by establishing crucial battery-swapping infrastructure along high-demand corridors, Indofast Energy said in a statement. "By integrating e-Sprinto's high-quality vehicles with our network, we are expanding our reach across diverse customer segments and accelerating our ambitious EV deployment targets," Indofast Energy CEO Anant Badjatya said. Indofast Energy, a 50:50 joint venture between IndianOil Corporation Ltd and SUN Mobility, has also tied up with Zypp, Omega Seiki Mobility, Shadowfax, Triev, Wickedride, Green Drive etc.

Russian oil traders ask Indian buyers to pay in yuan amid strong China ties

In 2023, Indian state refiners made some payments for Russian oil in yuan, but they stopped due to displeasure from the Indian government during a period of heightened tensions with Beijing

India may mandate 5% SAF blending for domestic flights by 2030: Report

Deloitte-ISMA report projects 5% SAF blending by 2030 and 15% by 2040 for domestic flights, citing abundant biomass as driver for India's global SAF potential

IOC's project SPRINT starts to show results, company gains retail dominance

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

India boosts US oil purchases on competitive prices, narrows trade deficit

The country's top refiner, Indian Oil Corp, has bought 5 million barrels of US West Texas Intermediate crude for delivery in October and November via a tender

Indian Oil, Air India sign agreement for sustainable aviation fuel supply

Indian Oil Corporation (IOC) has signed a landmark agreement to supply sustainable aviation fuel to Air India, representing a significant step towards a greener and cleaner aviation in India. IOC plans to begin production of sustainable aviation fuel (SAF) from used cooking oil starting December this year at its Panipat refinery, according to Chairman Arvinder Singh Sahney. The facility is expected to produce 35,000 tonne of green fuel annually, using waste cooking oil sourced from hotel and restaurant chains such as ITC and Haldiram's. SAF is an alternative fuel made from non-petroleum feedstocks that reduces emissions from air transportation. It can be blended up to 50 per cent in conventional aviation turbine fuel (ATF or jet fuel), depending on availability. India has mandated 1 per cent SAF blending in jet fuel sold to international airlines from 2027. IOC on Tuesday signed a memorandum of understanding (MoU) which "outlines the shared commitment of both parties to promote the

Indian Oil pauses Russia oil deal talks, says not related to US sanctions

Indian Oil Corporation had a term deal with Russia, which expired in March 2023 and has not been renewed since

Indian Oil inks five-year deal with Trafigura to import US-linked LNG

Supplies under the deal would begin from the second half of this year, he said, adding that the price of the LNG is linked to the US Henry Hub benchmark

Indian Oil Q4 result: Net profit jumps 58% to ₹8,124 cr; dividend declared

Indian Oil Corporation Q4 FY25 result: The board has recommended a 30 per cent final dividend of ₹3.00 per equity share of face value ₹10 each 2024-25

BSE oil and gas index up 3%; check what put all these stocks on fire today

The BSE Oil & Gas index touched intraday high of 26,551.71, up 3.12 per cent from previous session's close of 25,746.71. HPCL, BPCL, IOC were among the top gainers in trade on April 29, data shows

Govt plans cheap gas lifeline for LNG trucks; aims to revive closed outlets

Indian Oil, the largest operator of LNG truck outlets, has shut five of its six outlets for lack of business, with only one in Sriperumbudur, an industrial area outside Chennai, still operational

India's spot oil demand dips as Russian supply nears normal levels

Most of the cargoes were booked at a discount of less than $3 a barrel to benchmarks, the people said

LNG buyers including IOC negotiate US deals ahead of PM Modi-Trump summit

India's buyers will hold meetings with suppliers over the next few days, during the India Energy Week conference in Delhi

Indian Oil faces decline in Russian oil imports in this fiscal year

Indian refiners are struggling to secure Russian oil supplies following the latest US sanctions aimed at Russian producers

Indian Oil Q3 results: Net profit drops 77% to Rs 2,115 cr, revenue down 5%

Indian Oil Q3FY25 results: Shares of the company dropped more than 3% following release of the PSU's earnings report

Q3 results Jan 27: Coal India, Tata Steel among 78 to post earnings today

Q3FY25 company results, January 27: Coal India, Bajaj Housing Finance, Canara Bank, and ACC will release their reports for the Oct-Dec 2024 quarter