Page 10 - Indian Oil Corporation

OMCs rally amid an increase in petrol, diesel prices for 2nd day in a row

Meanwhile, OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July.

Need to take inventory write down of Rs 1,456 cr over Covid-19, says CPCL

Lower demand for crude oil and petroleum products had impacted the prices and refining margins of the company

CPCL plans 9 MMTPA expansion at Cauvery Basin Refinery on JV basis

IOCL and CPCL to jointly hold 50% stake in JV, rest to come from financial, strategic and public investors

With gradual demand recovery, IOC rolls back refinery production cuts

The company on Monday said it has raised utilisation to 60 per cent, and plans to scale it up further by Month end

From Anaj Mandi to Vizag gas leak, industrial accidents that shook India

India has seen some horrible accidents in the past killing scores of people

States get short shrift

Central govt seeks to repair its finances

From Adani Gas to IOC, over 80 force majeure requests flood PNGRB

According to multiple sources close to the development, the big firms that applied for force majeure include Adani Gas, Gail Gas, Indian Oil Corporation, Indraprastha Gas, Haryana City Gas

Indian refiners export diesel to China as Beijing recovers from Covid-19

China is seeing a demand recovery in infrastructure and manufacturing sectors. Countries, like South Korea and Japan, have also placed quotes for importing petroleum products from India amid lockdown

Coronavirus lockdown: IOC raises LPG imports by 50% amid rise in demand

The company said that the move was to ensure uninterrupted availability of bulk LPG for its bottling plants.

For BS-VI transition, coordination with carmakers was key: IOC chairman

Vehicles and the fuel they run on have to switch over to BS-VI emission norms before April 1

Covid-19: Indian Oil initiates rare protocol to keep fuel supplies running

The company has implemented work from home at non-critical locations and implemented staggered work hours and working on alternate days at others with all precautions

India to top up strategic oil reserve with Rs 5,000 cr buy as prices drop

Global crude oil fell about 40% in March (to about $25 a barrel now) so far after talks of production cut between the OPEC and Russia failed.

IOC plans to open LPG bottling plant in Mizoram, upgrade 100 outlets in NE

IOC is also looking to commission at least nine retail outlets in Mizoram in the forthcoming fiscal

IOC declares Rs 4.25/share interim dividend, govt to get Rs 2,060 cr

The company's board fixed March 25 as the 'record date' for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend at the aforesaid meeting.

Saudi discount to only partially transmit in product prices: IOC chief

According to Sanjiv Singh, chairman of Indian Oil Corporation, each rupee depreciation results in Rs 2,500 crore of more outgo on crude oil import

Indian Oil Corporation's gas pipelines to be part of proposed GAIL arm

Cabinet to take a call soon; IOC product pipeline not to be part of new arm

Price hike on BS-VI won't hurt consumers, will meet April deadline: IOC

Company executives, including Chairman Sanjiv Singh, said they expected the matter of price hike for the cleaner fuel to be settled before the roll-out

Odisha investments tank 67% by value in FY19, job creation potential halves

Not all investment intents of Make in Odisha 2018 translated into commitments; several projects stuck in 'labyrinth of approvals'

IOC invests Rs 3,000 crore in Haldia refinery to meet BS-VI emission norms

State-owned Indian Oil Corporation (IOC) has made an investment of around Rs 3,000 crore to upgrade its refinery at Haldia to meet BS-VI emission norms, an official said on Thursday. The oil marketing PSU will invest another Rs 388 crore for setting up a grassroot bottling plant at Kharagpur, diesel exhaust fluid (DEF) plant at Budge Budge and lube blending unit at Paharpur in West Bengal. "IOC has made an investment of Rs 3,000 crore for upgrading the refinery at Haldia for the manufacture of petrol and diesel to comply with BS-VI emission norms," Pritish Bharat, ED (West Bengal, Sikkim and A&N), said. The new norms will come into force from April 1. He said the new BS-VI compliant fuel will have very low sulphur content as compared to BS-IV petrol or diesel. The company has incurred a total expenditure of around Rs 17,000 crore across its refineries in India to manufacture BS-VI compliant fuel, Bharat told reporters here. "All the retail outlets of IOC will be ready

ExxonMobil, Indian Oil and Chart Energy join hands for virtual pipelines

Indian Oil is India's largest state-owned oil refining and marketing company, and Chart, a leading global manufacturer of LNG equipment for use throughout the liquid gas supply chain