Page 11 - Indian Oil Corporation

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

BPCL sale: Indian Oil maintains interest, may bid on lower offer size

DIPAM has already started the process of appointing advisors for the sale of the entire government stake in BPCL

IOCL's Mathura refinery starts producing 100% BS-VI fuel ahead of deadline

IOCL Mathura Refinery has achieved the distinction of becoming first refinery in the country to supply BS-VI compliant fuels, containing less than 10 ppm sulphur with existing units.

IOC Q3 net triples to Rs 2,695 cr as inventory gains offset lower margins

IOC had a forex loss of Rs 182 crore as compared to Rs 2,804 crore foreign exchange gain a year back

BPCL likely to sell stake in Numaligarh Refinery through bidding

While OIL holds 26 per cent in NRL, BPCL and the Assam government have 61.65 per cent and 12.35 per cent equity, respectively

IOC to take call on bidding for govt's stake in BPCL: Chairman Sanjiv Singh

In November, CCEA approved the sale of government stake in five PSUs: BPCL, Shipping Corporation of India, Container Corporation of India

Oil firms need 40% more ethanol than sugar mills' installed capacity

The gap is expected to be met by non-sugarcane sources like wheat and corn

To meet fiscal deficit target, govt may pare its IOC stake to under 51%

The government can sell as much as 26.4% its holding in Indian Oil -- valued at about Rs 330 billion -- and still retain indirect control

IOC in talks with Rosneft to import Russian oil: Chairman Sanjiv Singh

Oil minister Dharmendra Pradhan said late on Monday that India is open to importing oil from Russia.

Sharp earnings downgrades for Dr Reddy's, Zee Entertainment and IOC

Among other Nifty companies, ZEEL has seen an earnings cut of over 8%

India's higher diesel exports to weigh on Asia's refining margins

Diesel cracks that had strengthened in anticipation of new marine fuel norms from January 2020 have eased since the start of September

IOC profit before tax falls 83% in Sep quarter on higher inventory losses

The company's net profit was Rs 563.42 crore, as against Rs 3,246.93 crore during the same period in 2018-19

Domestic-oriented companies on fund managers' radar, says analyst

Further, fund managers say the markets could continue to remain polarised as growth companies are likely to fetch a premium, especially when the economy is going through a trough

Fuel payment issues with oil PSUs will be resolved soon: Air India

The airline also "assured" its customers of smooth operations, saying it has taken all the measures in the eventuality of the two sides failing to reach an understanding on the issue

Saudis defer LPG flow: India scrambles to meet peak festive season demand

India, the world's second-largest LPG importer, gets about half of its requirements from foreign suppliers

Best of BS Opinion: Disinvestment blues, sorry state of policing, and more

From how India could become the world's second largest e-bus market after China to police reform and the purchase of BPCL by IOC, here's a selection of Business Standard Opinion pieces for the day

Govt may sell entire stake in BPCL worth Rs 40,000 cr, IOCL likely suitor

If it goes through, an IOCL-BPCL merger will be the third mammoth amalgamation of state-owned companies, excluding banks, in three years

IOC to invest Rs 2 trn in 5-7 yrs, develop a new energy storage technology

These investments will be made across refinery expansions, petrochemical capacities and pipeline projects