Page 4 - Indian Oil Corporation Ltd

IOC to ramp up LPG output in Northeast by 53% to 80 mn cylinders by 2030

PSU major Indian Oil Corp is planning three new plants in the Northeast to increase its LPG bottling capacity by nearly 53 per cent to eight crore cylinders annually by 2030

India's refinery throughput stays firm with strong recovery in sight

Crude oil throughput in January was however down 0.5% year-on-year to 5.13 mn barrels per day (21.71 mn tonnes), govt data showed.

Indian Energy Exchange divest 4.93% equity stake to Indian Oil Corp

India Energy Exchange on Wednesday announced divesting 4.93 per cent equity stake to India's largest oil company Indian Oil Corporation. IEX chairman and managing director SN Goel said that the move augurs well in the joint endeavour to build the gas market in India and is aligned with the government's vision of accelerating the share of gas in the energy mix to 15 per cent by 2030. "We strongly believe that IndianOil will bring huge value through guidance and support to our new initiative of IGX. IndianOil ... their huge expertise in the gas sector will help add new products for Indian markets," Goel said in a statement. Indian Oil has a diversified presence across oil, gas, petrochemicals, and fertilizer segments. At Indian Oil, we acknowledge the important role Indian Gas Exchange has to play in building a gas-based economy and also creating vibrant gas markets in the country," Indian Oil chairman Shrikant Madhav Vaidya said. Energy major Indian Oil has presence in almost all t

IOC renews deal to buy up to 2 MT of oil from Russia's Rosneft

India has tied up supplies from Russia to the US in a bid to diversify its oil import basket, cutting reliance on the Middle East to meet its oil needs

2021 will be remembered for hefty dividend payouts by listed entities

Page Industries, Indian Oil Corporation, Coal India, Satluj Jal Vidyut Nigam, Power Finance Corporation, and Hindustan Petroleum, among others, have been providing healthy dividends to their investors

Automation Anywhere, IndianOil sign 5-year deal to automate key processes

During phase-1 of the plan, IOCL has automated select key processes across Finance, HR, inventory using Automation 360, Automation Anywhere's AI-powered RPA platform

1 mn barrels of Guyanese Liza crude loaded for Indian Oil Corporation

The first one million barrels of Guyanese Liza crude for Indian Oil Corporation Ltd has been loaded from FPSO Liza Destiny, informed the High Commission of India in Guyana

Top headlines: Bitcoin plunges to $30,066; IOC returns to profit in Q4FY21

Business Standard brings you the top headlines this evening

IOC Q4 results: Rs 8,781-cr net profit beats estimates on inventory gains

Revenue rose 18% to Rs 1.64 trillion

Indian refiners deepen cuts to Saudi oil purchases, to buy 36% less in May

Energy relations between India, the world's third biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked

SPIC Thoothukudi plant starts receiving natural gas from ONGC facility

The natural gas will be transported from the gas fields of ONGC in Ramanathapuram

LPG consumption amongst PMUY customers surge 23.2% despite price rise: IOC

LPG cylinders consumption has improved amongst Pradhan Mantri Ujjwala Yojana (PMUY) customers despite the recent price rise in LPG prices, said Indian Oil Corporation Limited (IOCL) on Wednesday

Indian Oil may form subsidiary for retail assets to unlock value

IOC operates a pipeline network of 14,600 kilometres

IOC to monetise pipeline assets, says many investors interested

The firm is likely to sell stakes in one or two of its vast network of crude oil and petroleum product pipelines in the country, its Director (Finance) Sandeep Kumar Gupta said

9 injured in Bhubaneswar petrol pump fire; Dharmendra Pradhan orders probe

Nine people were injured, two of them critically, in a major fire that broke out at an IOCL petrol pump near the Raj Bhavan here on Wednesday, police said.

India's delayed approval of hydrogen as a fuel: Implications and road ahead

While the country's work on hydrogen has trailed leaders, it could gather speed once the labelled buses roll around Delhi. Private sector firms too are starting to show interest

Oil tanker on fire off Sri Lankan coast towed to safety, fire 'localised'

ICG Fast Patrol Vessel Ameya with 1000 litres Oil Spill Dispersants has been deployed to augment pollution response efforts

Domestic refiners shut down for maintenance as fuel demand wanes

Some firms also cut down their throughput

Govt changes policy to distribute free cooking gas cylinders: Details here

Earlier, beneficiaries under the Pradhan Mantri Ujjwala Yojana (PMUY) were entitled to three free liquefied petroleum gas (LPG) cylinders effective April 1 to June 30 this year.

IOC, BPCL restart project-work after relaxation of Covid-19 lockdown norms

IOC said it has resumed work on 64 select projects with a combined allocation of about Rs 21,375 crore