Page 4 - Indian Oil Corp

Indian Oil to double Ennore LNG terminal's capacity to 10 mn metric tpy

Jain said IOC hopes to boost local sales of gas to 20 million tpy by 2030, a substantial increase from the current 6.3 million tpy

Sri Lankan govt renews Lanka Indian Oil petroleum license for 20 years

The Sri Lankan government has renewed the petroleum products license granted to Lanka IOC, the local subsidiary of Indian Oil Corporation, for another 20 years, officials said on Monday. The license originally issued in 2003 was to expire in January 2024. This will allow Lanka IOC to continue its retail operations on the debt-trapped island nation until January 22, 2044. The license renewal letter was handed over by President Ranil Wickremesinghe to Dipak Das the Managing Director of LIOC late last week, Aseem Bhargav, the Chief Financial Officer of LIOC said in a statement. The government has renewed the petroleum products license granted to Lanka IOC, the local subsidiary of Indian Oil Corporation, for another 20 years, the LIOC officials told PTI on Monday. The license enables LIOC to import, export, store, transport, distribute, sell and supply petrol diesel, heavy diesel, furnace oil, kerosene, Naphtha and other mineral petroleum including premium petrol and premium diesel."

Indian Oil to invest Rs 1,660 cr in exchange for 50% stake in JV with NTPC

Indian Oil also announced the appointment of Anuj Jain as its chief financial officer

Indus Towers signs pact with IOC Phinergy for clean energy systems

Indus Towers and IOC Phinergy (IOP) have inked a pact for the deployment of 300 zero-emission energy systems to optimise diesel consumption at Indus' telecom tower sites. This move accelerates Indus Towers' progress towards its sustainability priorities, according to a release. "Indus Towers Limited and IOC Phinergy Private Limited (IOP) have signed an agreement for deployment of 300 zero-emission energy systems based on aluminium-air technology, to optimise diesel consumption at Indus' telecom tower sites," the release said. Indus Towers' CEO Prachur Sah said as part of the company's ESG vision, Indus Towers believes in nurturing environmental stewardship, being socially responsible and having robust governance. "Indus Tower's agreement with IOP is a testimony of the company's commitment to build eco-friendly telecom tower sites by investing in solutions for resource optimisation," Sah added. IOP is a joint venture company formed by IOCL and Phinergy Ltd, Israel to manufacture, s

Rising crude, uncertainty ahead of elections keep analysts wary on OMCs

Analysts say the already weakening marketing margins will be a concern ahead as the fate of OMCs remains tied to uncertain crude prices and the inability to raise prices amid the coming elections

BPCL, IOC, HPCL stocks slide 1-3% on reports OMCs may bear LPG subsidy cost

The move is also sentimentally negative for OMC stocks as investors fear that price cuts on petrol and diesel could be next in line ahead of the assembly and general elections

ADNOC Gas agrees $7bn-$9 bn 14-year LNG agreement with IOCL: Statement

ADNOC raised about $2.5 billion in March through a sale of roughly 5% of its gas business in an IPO

As Russian discounts erode, Indian oil refiners may shift back to the Gulf

Iraq and UAE are willing to offer credits for longer periods of time, and they are also located closer to the Indian shores

Indian Oil Corp to set up aviation fuel plant with LanzaJet in Haryana

The company is looking at an investment of about 23 billion rupees ($280.1 million), S.M. Vaidya said on the sidelines of an industry event in New Delhi

Analysts cautious on OMCs; fuel price cut, uneven oil demand key overhangs

According to ICICI Securities, OMCs will have to adjust retail prices by Rs 0.53/litre to maintain margins at current levels, if international prices change by $1/barrel

Refinery rejig: Why is India steadily raising petrochemicals capacity

Estimates for the sector are bullish for a decade but it is not an easy business to run, say experts

Indian Oil eyes processing bio-naphtha for petrochemicals: Chairman

Bio-naphtha is typically obtained from hydro-treatment of used vegetable and cooking oils

Sensex sheds 413 pts as HDFC twins, RIL weigh; Nifty ends below 18,300

CLOSING BELL: The BSE Midcap, Smallcap indices, however, bucked the trend and ended with a gain of up to 0.2 per cent. Breadth too was marginally positive.

Oil & gas shares fire up: BPCL, Indian Oil, ONGC hit 52-week highs

In Q4FY23, OMCs will record 60-120 per cent QoQ Ebitda growth on the back of steady refining, auto-fuel margin recovery, and marginal LPG under-recovery.

Indian Oil to recoup $61 million of fuel sales bill from Go First

NEW DELHI (Reuters) - Indian Oil Corp will recoup $61.14 million of jet fuel sales to cash-strapped Go First by cashing in bank guarantees and is optimistic it will recover a further $6.11 million for unsecured sales made in the past few months, sources said.

Indian Oil Corp plans green jet fuel plant worth $10 bn to meet demand

The International Civil Aviation Organization last year adopted a target to cut emissions to net zero by 2050, and SAF has long been seen as the industry's fastest way to reduce emissions

'Stellar' performance, says IOC as market share climbs to 43% in FY23

State-owned Indian Oil Corporation (IOC) on Monday said its fuel market share climbed to 43 per cent in the fiscal year that ended on March 31 during which all its divisions posted stellar performance. IOC, the nation's top oil firm, added almost 1,800 petrol pumps, clocked highest ever throughput at its refineries, posted a 14 per cent jump in fuel sales and registered the highest-ever pipeline expansion during 2022-23 (April 2022 to March 2023), the firm said in a statement. The company owns about a third of India's oil refining capacity and about half of the nation's fuel retailing infrastructure. IOC chairman S M Vaidya said the company's refineries clocked the highest-ever throughput of over 72.4 million tonnes in 2022-23, compared with 67.67 million tonnes in the previous fiscal year. Its liquid pipelines throughput jumped from about 83.25 million tonnes in 2021-22 to the highest ever 94.7 million tonnes. IOC also registered the highest-ever pipeline expansion of about 2,450

Russia's Rosneft signs deal to boost oil supplies to Indian Oil Corp

MOSCOW (Reuters) - Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India, Rosneft said on Wednesday.

Indian Oil clarifies on Adani Gas deal after public scrutiny: Report

An Indian Oil spokeswoman said on Thursday that the agreement with Adani was signed very recently and there was no commitment on capacity use

ONGC, Indian Oil, Power Grid, SAIL top profit making PSUs in FY22

The net profit of operating public sector enterprises jumped 50.87% to Rs 2.49 trn during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging as the top five performers