Page 3 - Indian Oil

CIL gives extension to Debasish Nanda as Director, Business Development

State-owned CIL on Wednesday said it has given extension to Debasish Nanda, who at present is company's Director, Business Development. The extension has been given to Nanda, who is at present company's Director, Business Development, for a period of six months effective November 2, 2023 or till the appointment of a regular incumbent or until further orders, whichever is earliest, Coal India Ltd (CIL) said in a regulatory filing. Nanda took over as CIL's first Director, Business Development last year. Before joining CIL, Nanda was working as Executive Director (Gas) in Indian Oil. Nanda, a graduate in mechanical engineering from UCE Burla, Sambalpur University, a post graduate in production engineering from REC Rourkela and a Masters in International Business from IIFT, New Delhi. He joined Indian Oil in 1988 as a management trainee in the marketing division and spent 11 years in marketing of Servo lubricants.

Indian Oil Q2 results: Net profit soars to Rs 13,713 cr, beats expectations

The latest quarterly growth comes despite a 12.6% decline in operational revenue

Dhamra LNG terminal to save over Rs 5,000 crore annually for its users

Adani Ports & SEZ and TotalEnergies have jointly invested Rs 1,900 crore in the terminal project so far and the Adani firm started investing in the project from 2016 onwards

Chennai Petroleum Corporation Q1 net profit shrinks 76% to Rs 548 crore

In the latest quarter, revenue from operations reduced by 35 percent to Rs 17,985 crore year-on-year from Rs 27,449 crore in the year-ago quarter

Stocks to watch: IndusInd Bank, Ashok Leyland, Patanjali Foods, Ircon, IOC

Stocks to watch on July 18, 2023: From Ashok Leyland to Tata Elxsi, check out the top stocks to watch in Tuesday's trading session

Indian Oil signs long term LNG import deals with ADNOC LNG, TotalEnergies

TotalEnergies would supply 0.8 million tpy LNG to IOC under the 10 year deal, it said. TotalEnergies would supply LNG to IOC from its global portfolio

After Chotu, Munna LPG cylinders to hit North East markets soon: Indian Oil

After Chotu', Indian Oil is all set to launch Munna' in the North Eastern region soon, a top official said on Friday. The PSU is also focusing on infrastructure development in the region, including setting up LPG bottling units in all the seven states, he added. Addressing a press conference here, executive director and state head, IndianOil, Assam Oil Division, G Ramesh said, After introducing the 5-kg LPG cylinder Chotu' in NE last year, we will also be launching the 2-kg cylinder Munna' soon. Ramesh said bottling units for Munna' will be launched in Tripura and North Guwahati soon. These lightweight LPG cylinders are catering to migrant population in urban and semi-urban areas who do not have local address proof, people with lower gas consumption and commercial establishments with limited space. Munna' will be particularly helpful for people in hilly areas as it will be easy to carry, he added. The per kg price of Munna' is nearly same as the regular domestic cylinder, while ..

Russian energy giant Rosneft appoints former IOC director to its board

Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India. G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm. Satish, 62, is the first Indian to be appointed to the board of Rosneft. Rosneft has partnerships with Satish's former company in oil and gas fields in Russia. It also sells crude oil to IOC and other Indian firms and has in recent months started shipping naphtha to Gujarat refiners. His appointment assumes significance as Rosneft is now eyeing more deals with Indian firms including the sale of liquefied natural gas (LNG). Satish, who has deep insight into the Indian oil and gas market and has expertise in petroleum product marketing, petrochemicals, LNG and international trade, is one of the five ...

Indian Oil to invest Rs 54,000 crore in projects including TN refinery

The Indian Oil Corporation Limited (IOCL), Chennai, has committed to invest Rs 54,000 crore in various projects in Tamil Nadu in the next few years, including a 9 MMTPA (million metric tonnes per annum) grass-root refinery at an estimated cost of Rs 35,580 crore, its executive director and state head (TN & Puducherry) V C Asokan said here on Thursday. This new refinery, which will come up on about 1,300 acres of land in Nagapattinam, will produce petrol and diesel for BS-VI specifications and also polypropylene. The world's second-largest integrated lubes complex at Ammullaivoyal village for Rs 1,398 crore apart, the IOCL has planned to lay product pipelines (Rs 2,600 crore), gas pipelines including LPG (Rs 2,225 crore), CGD projects (Rs 7,570 crore), open new retail outlets and launch a modernisation programme (Rs 2,500 crore), build a captive POL/LPG jetty at Kamrajar port (Rs 921 crore), establish a terminal at Vallur (for Rs 724 crore) and set up a new terminal at Asanur (for .

After RIL-bp, Nayara Energy sells petrol, diesel at Re 1 less than PSUs

After Reliance Industries Ltd and its partner bp plc of the UK, Nayara Energy - the nation's largest private fuel retailer - has started selling petrol and diesel at Re 1 less than the fuel sold by state-owned retailers, officials said. While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers. "To further stimulate domestic consumption and cater to local customers better, we have introduced a Re 1 discount in our retail outlets until the end of June 2023," a spokesperson for Nayara Energy said. "We believe in being a strong partner to India's energy needs and will continue to serve the country's consumption demand." Nayara Energy, which owns over 7 per cent of India's 86,925 petrol pumps, is selling petrol and diesel at Re 1 per litre less than that by IOC, BPCL and HPCL in

Indian Oil eyes processing bio-naphtha for petrochemicals: Chairman

Bio-naphtha is typically obtained from hydro-treatment of used vegetable and cooking oils

Indian oil export basket in FY23 was most diversified ever, shows data

Israel, Brazil, and South Africa broke into top 10 list of destinations for Indian refined petroleum products

Tesla Power inks pact with Indian Oil Corp to sell batteries at petrol pump

Tesla Power USA on Thursday said it has inked an agreement with Indian Oil Corporation Limited (IOCL) to sell and service batteries at the state-owned firm's petrol pumps. The partnership will enable Tesla Power to sell and service batteries at over 36,000 IOCL petrol pumps across India, the US-based firm said in a statement. "This will be the first national-level tie-up with Indian Oil Corporation Ltd for battery distribution. To start with, Tesla Power USA batteries will be available at the select IOCL fuel pumps in the Delhi-NCR region, which will be subsequently expanded to other states," it added. Kavinder Khurana, MD, Tesla Power USA, said his company currently has over 5,000 distribution points in India and aims to double it in 2023. The addition of IOCL petrol pumps can potentially offer Tesla Power USA a distribution reach of over 40,000-mark.

Stocks to Watch: TCS, Infosys, Karnataka Bank, FRL, Jindal Stainless

Stocks to Watch today: Analysts expect Infosys to report muted quarter-on-quarter (QoQ) revenue growth between 0.1-0.7 per cent in constant currency (cc).

Indian Oil may offer domestic airlines a stake in its green fuel plant

IOC has tied up with tech provider LanzaJet to produce SAF at its Panipat refinery and is seeking investments from airlines with a view to securing offtake commitments

Stocks to Watch: Indian Oil, NTPC, HDFC AMC, Uno Minda, Sterling and Wilson

Stocks to Watch: RIL/ONGC/Oil India may be in focus as the windfall tax on crude petroleum has been reduced to Rs 3,500/tonne from Rs 4,400/tonne

Economic resilience based on decisive govt, sustained reforms: PM Modi

Prime Minister Modi inaugurated the India Energy Week (IEW) 2023 in Bengaluru on Monday and launched a series of initiatives including uniforms under the 'Unbottled' programme of Indian Oil

Indian Oil Corp Q3 net dips 92% to Rs 448 cr on higher costs, forex losses

A 40% surge in input costs pushed up total expenses by 20.4% to Rs 2.30 trillion

Indian Oil plans to upgrade supply locations, aviation fuel station in Goa

Indian Oil Corporation plans to invest Rs 6 crore on the upgradation of supply locations and aviation fuel station in the coastal state, a senior company official said. Anirban Ghosh, Executive Director and State Head of Maharashtra and Goa State Office, told reporters that the Indian Oil Company had the highest market share of 38.1 per cent and sold 256.4 TMT of petrol, oil and lubricant products in Goa in 2021-22. He said that in the current Financial Year, the Indian Oil will invest Rs 6 crore on the upgradation of supply locations and Aviation Fuel station. Ghosh added that the investment in the development of new retail outlets and upgradation of old ones for the fiscal 2022-23 is Rs 5.50 crore. He said that Indian Oil has a network of 38 retail outlets in the state, ensuring uninterrupted POL supplies at all times. There are five distributors of Indian Oil LPG in the state, Ghosh added. Ghosh said that the contribution to the exchequer of Goa has been Rs 438.58 crores which .

Indian Oil Corp buys cargo of Russia's Sokol oil through a spot deal

The source said IOC did not participate in the Rosneft tender as the Russian company was asking for prepayment