Page 8 - Indian Oil Corporation

Indian Oil Corp buys first Russian Urals crude in 2 years as prices slump

Urals crude was last imported by IOC at its Paradip port in April 2020, Refinitiv's trade flows data showed

Dabur to reach its wares to 140 mn Indane users via IndianOil delivery team

Move will help Dabur leverage IndianOil's reach via booklets given to consumers through OMC's delivery team. An app will also help customers order directly, and get the products delivered by this team

IOC raises Rs 1,500 cr via bonds at interest rate lower than sovereign

IOC priced its five-year rupee bonds at a coupon rate of 6.14 per cent tighter than a similar maturing government bond that is trading at an annualised yield of 6.29 per cent

Indian Oil installs more than 1,000 electric vehicle charging stations

IndianOil is gearing up to provide EV charging facilities at 10,000 fuel stations in the next three years, said Director, Marketing V. Satish Kumar

IOC gets Rs 2,281 crore as Air India clears 80% of jet fuel dues

State-owned fuel company lists recovery from carrier and increasing air traffic as positives for its business.

Indian Oil Corporation, Adani Total Gas top bidders for city gas licenses

Adani group had originally ventured into city gas business in a joint venture with IOC but it later tied up with Total. Adani and IOC did not put any combined bid in the latest bidding round

IOC to invest Rs 9,028 crore for setting up a new crude oil pipeline

IOCL operates a network of more than 15,000-km long crude oil, petroleum product and gas pipelines

High-level IOC delegation, Bengal forensics team probe Haldia Refinery fire

The state government demanded that a compensation package for the dead and injured workers be announced, to which the IOC said that it is being prepared and will be made public soon

Top headlines: Delhi bans gatherings; I-T raids at Chinese mobile firms

Business Standard brings you the top headlines on Wednesday

Oil PSUs to set up 22,000 EV charging stations in the next 3-5 years

IOC, the country's largest state-controlled refiner by capacity, will set up EV charging facilities at 10,000 fuel outlets over the next three years, Chairman Shrikant Madhav Vaidya said

IOC expects 100% refinery run within a quarter as fuel demand returns

Indian Oil Corp (IOC), the nation's largest oil firm, expects refinery run to reach 100 per cent within a quarter as fuel demand returns, its chairman SM Vaidya said. Speaking at India Energy Forum by CERAWeek, he said petrol and cooking gas LPG demand is already above pe-COVID levels and diesel - the most consumed fuel in the country - is inching back to normalcy. "Energy demand is rebounding in India with the revival of economic activity" after a devastating pandemic, he said. India's energy demand had halved after a nationwide lockdown was imposed in late March last year. But with gradual easing of restrictions, economic activity has rebounded. Vaidya said the robust energy demand in India is only set to grow in the future. "LPG and petrol have already exceeded pre COVID levels, and we expect refinery capacity to reach 100 per cent by the next quarter," he said. IOC's refineries operated at 82 per cent of capacity in September and are above 90 per cent this month. He said IOC

Indian Oil in talks with state transport undertakings for hydrogen projects

The units in UP and Gujarat will be close to the refineries. Plan is to run 10-20 buses in both states initially; Kerala to have a standalone green hydrogen unit

IOC, CPCL start working on Rs 31,580-cr refinery project at Nagapattinam

While both the companies will hold 25 per cent each in the proposed 9 million tonne per annum (MTPA) refinery, the remaining 50 per cent will be held by a strategic or financial partner

India may need additional 2 mn bpd refining capacity by 2030: IOC chair

India, the world's third-biggest oil importer and consumer, currently has 5 million barrels per day of refining capacity. IOC controls about a third of that.

From IOC to Reliance: India's ambitious hydrogen push gains currency

Hydrogen is the latest buzz for meeting the world's energy needs. Being the cleanest form of energy, it can be produced from a variety of resources, such as natural gas, biomass

IOC may sell some of its petrol pumps to JV with Malaysia's Petronas

IOC may sell some of its over 32,300 petrol pumps to a joint venture with Malaysia's Petronas with a view to monetising vast fuel marketing network, its Director (Finance)

IOC to invest Rs 24,000 cr in Gujarat refinery expansion, petchem project

State-owned Indian Oil Corporation (IOC) on Monday said it has signed up an investment pact for adding petrochemical and lube plants to its previously announced plan to expand crude oil processing capacity at its Koyali refinery at Vadodara in Gujarat. Expanding refining capacity by 4.3 million tonnes per annum to 18 million tonnes and adding plants to produce 500,000 tonnes per annum of polypropylene and 2,35,000 tonnes of lube oil base stock at the site would see total investment of about Rs 24,000 crore. "Chief Minister of Gujarat Vijaybhai Rupani and Union Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan today presided over an MOU signing ceremony for 'Investment Promotion' between the Government of Gujarat and IndianOil for setting up a Petrochemical and Lube Integration (LuPech) Project and Acrylics / Oxo Alcohol Project along with other infrastructure projects at Gujarat Refinery," a company statement said. The LuPech project will produce import substitutes .

Indian Oil swings into black with record Rs 21,000-cr profit in FY21

Firm attributes remarkable to inventory gains caused by fluctuating global oil prices and rising sales of high-margin petrochemical products

O2C, Indian Oil Corp bag supplies in intense bidding for KG-D6 gas

RIL and its partner BP of the UK had offered 5.5 million standard cubic meters per day of additional gas in the auction for a flexible tenure of 3-5 years

IOC to buy Guyanese crude as India doubles up on cutting Opec dependence

According to oil ministry officials, this deal is at competitive rates and is in line with the strategy to have multiple sources of crude oil for Indian refiners