Indian Oil Corp | The Asian Age

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An official said Indian oil companies had ensured fuel uninterrupted fuel supplies to defence forces even during the Kargil war in 1999. (Photo: File)

'Very strong plan' to ensure defence fuel supplies; 500 trucks move to refill depots

Oil companies, officials said, carry out winter stocking in Jammu and Kashmir ahead of the onset of winter every year.

27 Feb 2019 7:59 PM

The tender closes on March 27 and is valid for a day, the source added.

Indian Oil Corp seeks LNG cargo for April delivery: sources

The company is seeking the cargo for delivery into the port of Dahej on April 20, one of the sources said.

25 Feb 2019 2:02 PM

The term contract follows IOC signing up to buy crude oil from the US through a term-tender deal in August last year.

IOC signs USD 1.5 billion deal to buy US crude oil

This is the first term contract finalised by any Indian PSU oil company for import of US origin crude oil grades.

18 Feb 2019 5:12 PM

IOC chairman Sanjiv Singh had said earlier this month that the 5-million-tonnes-per-year Ennore terminal will likely be commissioned by January.

IOC seeks commissioning cargo for new Ennore LNG terminal: sources

The state-owned company is seeking a partial cargo for delivery on Feb 25, with offers due by Feb 11.

30 Jan 2019 10:36 AM

The government, which holds 54.06 per cent stake in IOC, is expected to participate in the share buyback.

IOC to raise USD 3 billion more in overseas loan

IOC is already in market to raise USD 900 million through a bonds issue .

16 Jan 2019 1:36 PM

IOC said its board has also declared an interim dividend of 67.5 per cent or Rs 6.75 per share for fiscal 2018-19. (Photo: AP)

IOC to buy back shares for Rs 4,435 cr; pay Rs 6,556 crore dividend

The government is expected to participate in each of the share buyback programme of these PSUs.

15 Dec 2018 11:31 AM

Net profit of Rs 3,246.93 crore, or Rs 3.43 per share, in July-September compared with a net profit of Rs 3,696.29 crore.

IOC Q2 profit drops 12.6 per cent on forex losses, low margins

The company suffered a foreign exchange loss of Rs 2,600 crore in the quarter as rupee depreciated.

02 Nov 2018 6:20 PM

Amid uncertainty over impending US sanctions against Tehran, Indian Oil Corp (IOC) has booked for import of usual monthly quantity of 0.75-0.8 million tonnes of crude oil from Iran in October but is unsure if the trade would continue thereafter, a senior official said.

IOC books Iranian oil imports for October; uncertain about future

State refiners, however, have no advice from the government on Iranian imports yet, the official said.

12 Sep 2018 3:04 PM

State-owned Oil and Natural Gas Corp (ONGC) will not sell its stake in IOC and GAIL in the near future as it has used internal resources to repay close to a third of the Rs 24,881 crore loan it had taken to buy Hindustan Petroleum Corp Ltd (HPCL), people with direct knowledge of the matter said.

ONGC repays a third of loan taken to buy HPCL

ONGC had in January received government approval to sell its 13.77 per cent stake in Indian Oil Corp.

19 Aug 2018 3:58 PM

Indian Oil Corp (IOC), the nation's largest oil company, plans to invest Rs 20,000 crore in city gas distribution projects in next 5-8 years.

Indian Oil Corp will invest Rs 20,000 crore in city gas projects

It owns a third of India's oil refining capacity and has 44 per cent market share of fuel business.

13 Aug 2018 1:05 PM

Billionaire Gautam Adani's group has bagged licences to retail gas in 21 cities in the latest city gas distribution bid round that saw state-owned Bharat Petroleum Corp Ltd's unit and Torrent Gas emerging as the other big winners.

Adani walks away with gas rights for 21 cities; BPCL bags 11 cities

Adani Gas won rights to retail CNG to automobiles and piped cooking gas to households and industries in 13 cities on its own.

12 Aug 2018 3:09 PM

Less than a year after first oil from the US was imported into India, state-owned Indian Oil Corp (IOC) has signed up to buy crude oil from the US through a term-tender deal, a senior company official said.

Indian Oil Corp signs up US crude in first ever term-tender deal

The sanctions, which would come into force from November 4, are likely to block current payment routes used to pay for Iranian imports.

08 Aug 2018 6:06 PM

Indian Oil Corp, the nation's largest oil firm, plans to invest Rs 1.75 lakh crore to nearly double refinery capacity, boost petrochemical production, expand gas business and lay new pipelines to become a vertically integrated company, its Chairman Sanjiv Singh said.

Indian Oil Corp to invest Rs 1.75 lakh cr for expansion, says Chairman

It plans to raise capacity to turn crude oil into fuels like petrol and diesel to 150 million tonnes per annum by 2030.

05 Aug 2018 6:17 PM

India is planning to set up a liquefied natural gas (LNG) import terminal in Myanmar as it looks to expand energy diplomacy in its neighbourhood, Oil Minister Dharmendra Pradhan said on Friday.

India plans to set up LNG terminal in Myanmar

The terminal will be in addition to the similar facilities planned by Indian firms in Bangladesh and Sri Lanka.

03 Aug 2018 1:01 PM

The world's 500 largest companies generated USD 30 trillion in revenues and USD 1.9 trillion in profits in 2017. (Photo: AP)

IOC tops 7 Indian firms on Fortune 500 list, RIL jumps 53 places

Indian Oil Corp with 23 per cent rise in revenues at USD 65.9 billion was ranked 137th from 168th position.

01 Aug 2018 12:56 PM

Iran is offering to insure oil cargoes to India after some local insurers stopped providing the service in the face of impending US sanctions, industry sources said, a move that would help Tehran continue supplying its second biggest oil client.

Iran offers India oil cargo insurance, ships to boost sales: sources

IOC is seeking to buy August cargoes from Tehran on similar terms, with Iran responsible for the delivery to Indian ports.

27 Jul 2018 2:26 PM

Indian Oil Corp, the country’s top refiner, has shut a 40,000-barrel-per-day (bpd) crude unit at its 150,000-bpd Haldia refinery on the east coast after a minor fire, a company source said on Friday.

Indian Oil shuts unit at Haldia plant after small fire: source

The crude unit has been isolated and is expected to resume operation from Saturday, the source said.

27 Jul 2018 2:09 PM

Cooking gas (LPG) subsidy has jumped by over 60 per cent in last two months as the government maintains price line despite rising international rates, Indian Oil Corp (IOC) Chairman Sanjiv Singh said.

LPG subsidy jumps 60 pc as govt maintains prices to help consumers

The government, however, subsidises 12 cylinders of 14.2-kg each per households in a year.

12 Jul 2018 3:01 PM

Petrol and diesel prices were on Thursday hiked for the first time in more than a month on the back of rising international rates and weakening rupee.

Petrol, diesel price hiked for 1st time in more than a month

The price of petrol in Delhi climbed to Rs 75.71 per litre from Rs 75.55 and diesel to Rs 67.50 a litre from Rs 67.38.

05 Jul 2018 12:20 PM

India will from November not be able to use European banks for making payments for crude oil it buys from Iran as US sanctions against the Persian Gulf nation take effect, senior officials said on Friday.

Iran oil payment route to be blocked from November 3

SBI, the country's largest lender, has communicated to oil refiners that the euro payment route will be not available after November 3.

15 Jun 2018 3:18 PM

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Dilip Cherian