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CPMA Member Companies News - Indian Oil Corporation

Malaysia's Petronas eyeing stake in Indian LNG import terminal - IOC, 16th August 2017
New Delhi: Malaysian state oil firm Petronas is looking to buy a stake in Indian Oil Corp's Ennore liquefied natural gas (LNG) import terminal, the Indian firm's chairman said on Wednesday....... Read more

Indian Oil gets government nod to buy US crude oil every month this y#mce_temp_url#ear, 10th Aug 2017 

Indian Oil Corp. Ltd (IOCL) has received the government nod to buy one very large ship full of crude oil from the US every month this year as it looks at cheaper alternatives that have emerged due to global supply glut. The shipping ministry has allowed the country’s largest oil firm to import one parcel or cargo of crude oil from the US every month in foreign ships, said a senior oil ministry official........ Read more

IOC net profit dips 45% on lower refining margins, 18th July 2017, 10th Aug 2017

Indian Oil Corporation Ltd's net profit fell 45 per cent in its fiscal first quarter of 2017 due to drop in refining margins......... Read more

India's IOC to build first off-gas-to-bioethanol plant at Panipat refinery, 18th July 2017, 18th July 2017

State-owned Indian Oil Corp plans to build the world's first refinery off-gas-to-bioethanol plant at its Panipat refinery in the third quarter of fiscal 2018-2019, running from April to March, IOC said in an emailed reply late Monday......... Read more

In a first, IOC to buy crude from US in 2-million-barrel deal
Business Standard, 10th July 2017 

India, the world's third-largest oil importer, has sealed a first deal to import crude oil from the US and the shipment is expected to touch Indian shores in October

......... Read more

IOC conducts special inspection of depots in North-East, 5th July 2017 

PSU major Indian Oil Corporation is carrying out a surprise inspection at its retail outlets in the North-East to detect any irregularity after some cases were reported from a few states in India......... Read more

IOC plans to buy North American sour crude for first time, 4th July 2017 

India’s top refiner has issued its first tender to buy high-sulphur, or sour, crude from North America as it seeks to diversify imports, three trading sources said on Tuesday......... Read more

IOC, BPCL, HPCL to sign JV deal for $40 billion refinery in Maharashtra, 13th June 2017 

State-owned refiners Indian Oil Corp. (IOC), Hindustan Petroleum Corp. Ltd (HPCL) and Bharat Petroleum Corp. Ltd (BPCL) will sign a deal on Wednesday to set up a joint venture refinery-cum-petrochemical complex on coastal Maharashtra, which would be the world’s largest with a capacity of 60 million tonnes.......... Read more

Singh appointed as new chairman of Indian Oil Corporation 

Business Standard, 1st June 2017  

Indian Oil Corporation Ltd (IOCL) on Thursday said it has appointed Sanjiv Singh as the new chairman of the company with immediate effect.......... Read more

Indian Oil saves Rs 1,000 crore in FY17 on import policy headroom, 26th May 2017  

State-owned Indian Oil Corp (IOC) saved over Rs 1,000 crore last fiscal after the government gave state-owned refiners the freedom to formulate their own crude import policies.......... Read more

Indian Oil Corporation plans to raise capacity at Petronet’s LNG terminal, 12th May 2017 

Public sector oil marketer, Indian Oil Corporation Ltd (IOCL) plans additional 1 million tonnes per annum (MTPA) of capacity for Liquified Natural Gas (LNG) at Petronet LNG's Dahej terminal, which is being expanded from existing 15 MTPA capacity to 17.5 MTPA, a top company official informed here.......... Read more

Indian Oil Corporation Ltd calls for Board Meeting on May 25, 2017

Equity Bulls, 3rd May 2017

A Board Meeting of Indian Oil Corporation Ltd is scheduled on Thursday, the 25th May 2017, to consider and approve the Audited Financial Results of the Company for the year ended 31st March 2017. It is also hereby notified that final dividend, if any, for the financial year 2016-17 may be considered at the aforesaid Board Meeting.......... Read more

Indian Oil nips at China’s heels in race to collect Lanka port assets, 27th April 2017  

India is looking to invest in a colonial-era Sri Lankan oil-storage facility as it seeks to further its naval interests in the Indian Ocean and push China back in the process........... Read more

Indian Oil Corp to expand LPG facilities in Kerala and Tamil Nadu, 9th April 2017  

Indian Oil Corporation Ltd (IOCL) will augment its LPG production facilities in Kerala and Tamil Nadu to meet the increased demand for the gas that is growing at 11% annually with the completion of construction of LPG import terminal and the pipeline connecting it to Salem........... Read more

Indian Oil to expand Paradip refinery despite stand-off with Odisha 

Business Standard, 7th April 2017 

Unfazed by the stand-off with the Odisha government over grant of fiscal incentives to its Paradip crude oil refinery, Indian Oil Corporation Ltd (IOCL) is planning for expanding the capacity of the refinery from 15 million tonne per annum (mtpa) currently to 20 mtpa and beyond........... Read more

Indian Oil to supply one million tonnes fuel annually to Nepal for 5 years, 28th Mar 2017  

State-owned Indian Oil Corporation has agreed to supply refined products to Nepal for the next five years to meet all the fuel needs of the landlocked Himalayan nation, officials said on Monday........... Read more

Shift in Govt’s crude oil import policy may help Indian Oil save 30 cents/barrel, 21st March 2017 

Indian Oil Corporation Ltd (Indian Oil) may end up saving about 20-30 cents a barrel in its crude oil import bill during the current fiscal, following an increase in purchases from the spot market........... Read more

Cabinet gives nod to sale of Indian Oil's 24% stake in Lubrizol India

Business Standard, 16th Mar 2017

Cabinet Committee on Economic Affairs (CCEA) has given its approval for the sale of Indian Oil Corporation’s 24 percent stake in Lubrizol India Private Limited to the US-based Lubrizol Corporation........... Read more

Indian Oil plans Rs 40K-crore mega refinery at Nagapattinam

Business Standard, 2nd Mar 2017 

State-run Indian Oil Corporation (IOC) plans to come up with a 15-million-tonne (mt) refinery, with an investment of about Rs 40,000 crore, at Nagapattinam in Tamil Nadu........... Read more

Unit of L&T wins $165 million contract from Indian Oil Corp, 25th Feb 2017 

A unit of engineering conglomerate Larsen & Toubro has won an onshore engineering, procurement and construction (EPC) contract from Indian Oil Corp Ltd, the country's largest refiner, worth 11 billion rupees ($165 million), it said in a statement on Saturday........... Read more

Indian Oil to invest Rs15,750 crore to grow pipeline network, 20th Feb 2017 

State-owned Indian Oil Corp. Ltd is set to invest heavily in logistics that will see the bulk of its petroleum product transport go off roads and railway lines into long-distance pipelines........... Read more

Crude processing to edge up in 2017-18: Indian Oil, 7th Feb 2017

Indian Oil Corp., the country’s largest refiner, expects its crude processing to inch up in 2017/18 despite planned maintenance at some plants. The company’s head of refineries told Reuters in an interview late on Monday that “high runs” at one of its biggest plants, on the east coast, would offset the impact of maintenance work at other facilities........... Read more

Better refinery margins boost Indian Oil net by 29%, 31st Jan 2017 

Public sector undertaking Indian Oil has reported a net profit of ₹3,995 crore in the third quarter of the financial year 2017........... Read more

Odisha may cut Indian Oil’s Paradip sop, 25th Jan 2017 

The Odisha government has served a notice to Indian Oil Corporation, indicating it wants to withdraw fiscal incentives given to the central government-owned refiner-marketer's Rs 34,000-crore Paradip refinery, a move that will hit profitability of the state's largest investor and shake business confidence............ Read more

Indian Oil Corporation: Fuelling capacity, 22nd January 2017 

Expansion plans should help the company cater to the healthy demand for products

Shrugging off demonetization blues, the stock of Indian Oil Corporation, resumed its rally over the past month or so. The stock is now touching its all-time highs, more than tripling over the past three years. This has been backed by a strong turnaround in its performance, aided by fuel pricing reforms, the rout of crude oil and expansion initiatives............ Read more

Indian Oil scouts for global assets to meet growing demand at home, 11th Jan 2017 

India’s biggest fuel retailer is seeking to buy oil assets as demand surges in the world’s fastest growing energy market............ Read more

Indian Oil consortium to set up India's biggest oil refinery

Business Standard, 7th Dec 2016 

State-run oil marketers Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp on Wednesday signed an agreement to build India's biggest oil refinery at a cost of $30 billion............ Read more

India’s 5.5 Billion Investment in Iran Will Raise Refinery Capacity, 23rd Nov 2016 

A $5.5 billion investment by the Indian Oil Corporation (IOC) will raise the capacity of the firm’s smallest refinery co-owned by Iran to 300,000 barrels per day, according to IOC chairman B. Ashok............. Read more

Indian Oil loses market share in bulk diesel, ATF, 21st Nov 2016 

State-run Indian Oil Corporation Ltd (IOCL), the country’s largest refiner and marketer, has lost market share in bulk diesel and aviation turbine fuel (ATF) while Reliance Industries, Essar Oil, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have gained in these segments.............. Read more

Indian Oil Corporation: Paradip refinery ramp-up to drive future profits, 2nd Nov 2016

Operating profit at Indian Oil Corporation dropped to Rs5,772 crore during the September quarter from Rs13,683 crore in the June quarter.............. Read more

Indian Oil Corporation trades ex-bonus

Business Standard, 18th Oct 2016

Indian Oil Corporation (IOC) was trading 1% lower at Rs 318 on BSE after the stock was traded ex-bonus on Tuesday in the ratio of 1:1............. Read more

Indian Oil Corporation elevates Sanjiv Singh as chairman, 23rd Sep 2016

Indian Oil Corporation (IOC), a state-run oil marketing company, said on Friday that Sanjiv Singh, currently director of refineries, has been elevated as chairman of the company............. Read more

IOC's investment plans not to affect credit profile: Fitch

 Business Standard, 19th Sep 2016 

State-owned Indian Oil Corporation's (IOC) Rs 1.8 lakh-crore capital investment plan over the next six years will not affect the company's credit profile, Fitch Ratings said today............. Read more

Indian Oil plans Rs.1.8 lakh crore expansion, 14th Sep 2016

India’s biggest refiner, Indian Oil Corporation (IOC), has lined up a capital expenditure plan of Rs.1.8 lakh crore to expand its refineries, oil exploration business and build marketing infrastructure, petrochemicals plants and LNG terminals............. Read more

Expedite green nod for IOC project, India tells Canada, 9th Sep 2016

India on Thursday asked Canada to expedite the environmental clearances for Indian Oil Corporation Ltd’s (IOC) LNG project in British Columbia, even as Minister of State for Petroleum and Natural Gas Dharmendra Pradhan urged Canadian firms to invest heavily in the country’s hydrocarbon sector............. Read more

IOC road map for refineries, 5th Sep 2016 

State-owned refiner Indian Oil Corporation plans to add 24 million tonnes per annum (mtpa) to its refining capacity by 2022 at an investment of about Rs 40,000 crore............. Read more

Indian Oil gains on bonus issue plan

 Business Standard, 24th August 2016 

Indian Oil Corporation (IOC) has moved higher by nearly 5% to Rs 568 on the BSE after the company announced that its board will meet on Monday, August 29 to consider issue of bonus shares............. Read more

IOC strengthens on plan of raising Rs 12,000 crore to meet its capex needs, 19th Aug 2016 

Indian Oil Corporation (IOC) is currently trading at Rs. 550.10, up by 5.00 points or 0.92% from its previous closing of Rs. 545.10 on the BSE............. Read more

IOC’s LNG terminal will be ready in 2018, 25th July 2016

Indian Oil Corporation Ltd’s (IOC) Rs. 5,151-crore liquefied natural gas (LNG) import terminal with a capacity of five million tonnes per annum is expected to be completed by March 2018............. Read more

Indian Oil: Fuelling growth, 9th July 2016 

Indian Oil, the country’s largest public sector oil refiner and marketer, had a good 2015-16 fiscal year. The company’s consolidated profit more than doubled year-on-year to ₹11,219 crore despite a 21 per cent dip in revenue to about ₹3.54 lakh crore............. Read more

IOC to go ‘aggressive’ on petrochemicals, 23rd July 2016

Indian Oil Corporation intends to make “aggressive investments” in petrochemicals in the next few years, says the company’s Director-Finance AK Sharma............. Read more

Indian Oil to join Coal India, NTPC to revive 3 fertiliser plants, 21st June 2016  

Indian Oil Corporation will join Coal India and NTPC Ltd to form a joint venture called Hindustan Urvarak and Rasayan Ltd. The new entity will revive three sick fertiliser plants at Sindri (Jharkhand), Gorakhpur (Uttar Pradesh) and Barauni (Bihar), at a total investment of around ₹20,000 crore............. 

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