Page 8 - Indian Oil Corp

Expecting demand bump in festive season, oil companies ramp up refining

Indian Oil Corp., the nation's top processor, is currently operating its refineries at an average rate of 86% of capacity, compared with 66.7% in August

OMC stocks come under pressure over muted demand, weak refining margins

Rising Covid-19 cases in India and talks of a second wave of the pandemic globally are adding to concerns on demand for petroleum products moving forward

With fuel demand falling, Indian Oil bets on plastics to cushion the blow

While there is consumer and govt pressure across the world to reduce the use of plastics, processors in Asia are building or planning petrochemical plants with demand for transport fuels set to ease

Chennai Petroleum to invest Rs 1,850 cr in BS VI auto fuel quality upgrade

CPCL has undertaken a project to use natural gas as an internal fuel, replacing the existing liquid material such as fuel oil and naphtha, at an estimated cost of Rs 421 cr

India state-owned refiners halt oil imports from Chinese companies: Report

Refiners stop sending crude import tenders to Chinese trading firm like CNOOC, Unipec and PetroChina, among others

Indian Oil Corp to fully restart Odisha's Paradip refinery by Saturday

The refinery's maintenance shutdown has been extended by a few days due to shortage of laborers amid the Covid-19 pandemic

Indian Oil Corp nears first deal to export fuels to Mauritius: Report

IOC mostly stays away from participating in term tenders for fuel exports as the refiner sells most of its fuel in the local market, besides supplying its retail outlets in Nepal and Bhutan

Decline in order inflow at L&T does not augur well for capital goods sector

Even though it was better than what analysts had expected, it still paints a bleak picture.

Trading strategies by Religare Broking: Buy Indian Oil Corporation, Titan

TITAN has been trading within 940-1030 zone for almost one and a half months, taking a pause after a sharp rebound

India may remain invested in Farzad-B without development rights: Report

Farzad-B, which was discovered by OVL in the Farsi block about 10 years ago, had in-place gas reserve of 21.7 trillion cubic feet, of which 12.5 Tcf is believed to be recoverable

India's petrol, diesel demand falls again due to high prices, lockdown

India on Friday became the third country in the world to record more than one million cases of the new coronavirus, behind only the United States and Brazil

India's fuel sales in June at 88% of pre-Covid levels, says govt

At 11.8 million tonnes of consumption, fuel demand in June was 88 per cent of 13.4 million tonnes consumption in June 2019.

F&O expiry: Mkts end flat after a choppy session; Nifty settles at 10,289

All that happened in the markets today

India mulls doubling oil refining capacity to 450-500 mt by 2030: Pradhan

India plans to almost double its oil refining capacity to 450-500 million tonnes in the next 10 years to meet the rising domestic fuel demand as well as cater to export market, Oil Minister Dharmendra Pradhan said on Tuesday. Speaking at a webinar on 'Atmanirbhar Bharat: Fostering Domestic Steel Usage in Oil & Gas Sector', he said construction of a new 60 million tonnes a year west coast refinery, which is crucial to the capacity doubling plan, will start soon. "Our refining capacity will increase from about 250 million tonnes per annum now to 450-500 million tonnes in next 10 years," he said. The capacity addition will be both brownfield (expansion of existing units) and greenfield (new refineries), he said. The refining capacity of 249.9 million tonnes exceeded the fuel demand of 213.7 million tonnes in 2019-20, but the demand is likely to rise to 335 million tonnes by 2030 and 472 million tonnes by 2040. International Energy Agency (IEA) forecast that India's fuel demand will .

OMCs: Demand recovery, inventory gains, marketing margins to drive earnings

Over the last three-four days, OMCs have increased the per litre price of gasoline and diesel by a total of Rs 2.14 and Rs 2.23, respectively

IOC aims to operate refineries at 90% capacity in June as demand recovers

Refiners in Asia are cranking up runs as the lifting of lockdown restrictions is pushing up fuel demand. India's fuel consumption in May increased significantly from April

Covid-19 crisis: Unlock 1.0 to revive fuel sales soon, says Indian Oil

Fuel sales had dropped in April after Prime Minister Narendra Modi announced a nationwide lockdown to control the spread of Covid-19 infections

India saves Rs 5000 cr in forex after capitalising on global low oil prices

State-owned oil firms were in April asked to buy import oil when global rates fell to a two-decade low.

Govt is looking at starting home delivery of petrol, CNG: Pradhan

Indian Oil Corp (IOC), the nation's largest fuel retailer, started home delivery of diesel through a mobile dispenser in 2018. This service is available only in a handful of cities.

April refinery output down 29%, natural gas falls 19% as consumption tapers

Industry experts say consumption of petroleum products in April was only 30-40% of what it had been prior to lockdown