Page 3 - Indian Oil Company

Indian Oil Q4FY24 results: Net profit shrinks 50% to Rs 5,149 crore

Annual net profit up 268% to Rs 43,161 crore, helped by Russian discounts

Zetwerk bags order from Indian Oil to set up over 1,400 EV fast chargers

Manufacturing unicorn Zetwerk on Thursday said it has bagged the largest order from India Oil Corporation to set up over 1,400 fast chargers for electric vehicles across the country. Indian Oil has floated a tender for 6,000 chargers, in which 40 EV suppliers across the country participated. "Zetwerk has secured an order with Indian Oil Corporation Limited (IOCL) to set up EV fast chargers across India through competitive bidding which was participated by more than 40 leading EV suppliers across the country," the company said in a statement. Zetwerk said that it has bagged the largest order from the public sector oil marketing company. "These charging stations will be deployed as per requirement across IOC outlets, providing a seamless charging experience. By conveniently locating these stations in major cities, we will enable the widespread adoption of EV mobility and drive the nation towards a sustainable future," Zetwerk Business Head - Renewables Abhay Adya said. Under the ...

Indian refiners refuse to take Russian oil delivered on Sovcomflot tankers

Private and state-run processors including the biggest - Indian Oil Corp. - have stopped taking cargoes if they're on Sovcomflot tankers

BPCL, HPCL, IOC down for 3rd straight day; slip upto 25% from 52-week highs

In past three days, shares of OMCs have declined between 8 - 12 per cent on concerns that recent petrol and diesel price cut could hurt the companies' profit margins in the near-term.

Foreign players eye strategic petroleum storage reserves in Mangaluru

With this, the entire Mangaluru Strategic Petroleum Reserve (SPR), which includes two caverns of 0.75 million tonnes capacity each, will be leased out

IOC, BPCL, HPCL: OMCs shares on fire post Interim Budget; check key levels

IOC is likely to trade on a bullish note as long as the stock sustains above Rs 165, suggests the daily chart.

North East LPG cylinder transporters of IOC go on indefinite strike

LPG cylinder transporters of Indian Oil Corporation on Wednesday went on an indefinite strike for the second time in less than two months, alleging pending dues and low rates in recently floated tenders. An IOC official, however, termed the strike as illegal. The decision to go for the shutdown was taken after a meeting called by the Food, Public Distribution & Consumer Affairs Department of Assam between IOC and the North East Packed LPG Transporter Association (NEPLTA) failed to yield any solution to the prolonged stalemate. "The government called us yesterday to talk about our demands. We reiterated our old issues, mostly related to pending dues and low rates in the tenders. However, the IOC was reluctant to talk about those," NEPLTA chief adviser Kumud Nath told PTI. The association had also written to the chief secretary on January 5, raising the same issues and urged him to take necessary steps, he said. "The government had called yesterday's meeting, accordingly, to find ..

Govt halves support to oil firms, defers filling strategic oil reserves

The government has halved the amount of equity infusion in state-owned fuel retailers to Rs 15,000 crore for supporting their investments in energy transition projects, the finance ministry has said. Finance Minister Nirmala Sitharaman had on February 1 last year while presenting the annual Budget for 2023-24 fiscal (April 2023 to March 2024) announced equity infusion of Rs 30,000 crore in Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) to support the three state-owned firms' energy transition plans. Alongside, she had also proposed Rs 5,000 crore for buying crude oil to fill strategic underground storages at Mangalore in Karnataka and Visakhapatnam in Andhra Pradesh that India has built to guard against any supply disruptions. That plan has also been deferred in view of emerging trends in oil markets, the finance ministry said. While other state-owned oil companies such as Oil and Natural Gas Corporation (ONGC) an

Stocks to Watch today: Bajaj Auto, Tata Steel, Tech M, TVS Motor, IOC, BoB

Stocks to watch on Thursday, January 25, 2024: Among companies announcing Q3 results yesterday, Tata Steel reported a turnaround while IOC and Ceat postged a 10-fold and 5-fold jump in net profit.

IOC Q3 net profit jumps to Rs 9,030 cr on improved marketing margins

The profit in the year-ago quarter was significantly impacted due to under-recoveries arising from higher input costs in the form of crude oil prices

Indian Oil Corp to open 300 ethanol fuel stations, says Nitin Gadkari

India, the world's third-biggest oil importer and consumer, is keen to cut its carbon footprint to meet its 2070 net-zero carbon goal

HPCL, BPCL, IOCL: OMCs rally up to 23% in Nov; will they sustain the gains?

Drop in crude oil prices and a bumper profit in Q2 has fuelled the rally so far in oil marketing companies.

Indian Oil posts Q2 profit vs yr-ago loss on strong refining margins

The state-owned company posted a net profit of Rs 12,967 crore ($1.56 billion) for the quarter ended Sept 30

Govt constitutes three-member search committee to find new chairman of IOC

The panel will be headed by the government headhunter Public Enterprises Selection Board (PESB) chairperson and will include the oil secretary as a member, an official order said

Indian Oil, RIL tap Iraqi oil wells amid surging cost of Russian Urals

This reflects India's growing reliance on Russian grades while balancing them out with purchases from Iran suppliers

Indian Oil approves 2 joint ventures to set up compressed biogas plants

The two joint ventures will be formed with IOCL or one of its subsidiaries. In both cases, the two partners will have an equal stake of 50 per cent each

MotoGP Bharat ropes in oil major IndianOil as title sponsor for the event

The first batch of motorcycles started arriving at the Buddh International Circuit, Noida, on Thursday

Indian Oil plans to become '360-degree energy' company, to invest Rs 4 trn

India's top fuel retailer Indian Oil Corporation will invest over Rs 4 lakh crore in this decade to expand oil refining and petrochemical business as well as in energy transition projects as part of a plan to become a '360-degree energy company', its chairman Shrikant Madhav Vaidya said on Friday. IndianOil will invest Rs 1 lakh crore in expanding capacity to refine and turn crude oil into fuel and a staggering Rs 2.4 lakh crore in projects that will help it achieve net-zero carbon emissions from its operations. Another Rs 60,000 crore is planned to be invested in setting up a giant petrochemical complex at Paradip in Odisha. These investments will help the company continue to meet the rising energy needs of a fast-expanding economy while also treading on the path of the energy transition, he told company shareholders at the annual general meeting. Vaidya said the past year witnessed waves of volatility that rocked the global energy dynamics but IOC kept its promise of fuelling the

Indian Oil Q1FY24 results: Net profit at Rs 13,750 cr YoY; revenue down 12%

The revenue from operations for Q1FY24 came in at Rs 2.2 trillion, compared to Rs 2.5 trillion last year

Indian Oil to raise up to $2.7 billion through rights issue of shares

IOC, the country's top refiner, has not specified which projects the newly raised funds would target