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CPMA Member Companies News - Indian Oil Corporation

 

IOC to invest over Rs 37,000 cr in TN

dailypioneer.com, 22nd August 2018

Energy major Indian Oil Corporation (IOC) will be investing about Rs 7,112 crore in infrastructure facilities in Tamil Nadu over the next three years, said a senior official... Read More

 

Indian Oil Corporation Rating: Like peers, strong quarter for company

financialexpress.com, 21st August 2018

Similar to its peers BPCL and HPCL that reported last week, IOC also reported a strong result. Reported Ebitda of Rs 126 bn (+14% q-o-q, +57% y-o-y) was sharply 66% ahead of our estimates and 20% ahead of Bloomberg consensus forecasts. Large inventory gain of Rs 78.7 bn (`59.2 bn or $6.8/bbl in refining) was a key reason for the beat. We expected core marketing margins to be weak, as OMCs had not taken enough timely increases in petrol/diesel prices. However, similar to HPCL/BPCL, IOC also surprised us. Refining segment Reported GRM of $10.2/bbl was significantly ahead (our estimate $ 6.4/bbl), driven by a large inventory gain of $6.8/bbl... Read More

 

A K Singh takes charge as Director-Pipelines at Indian Oil Corporation

energy.economictimes.indiatimes.com, ​​14th Aug 2018

A K Singh takes charge as Director-Pipelines at Indian Oil Corporation New Delhi: Indian Oil Corporation (IOC), the country’s largest fuel retailer, today announced Akshay Kumar Singh has joined as Director-Pipelines at the company. A mechanical engineer with Masters’ degree in Turbo Machinery, Singh has been serving as Executive Director at natural gas utility GAIL (India) Ltd... Read More

 

Indian Oil to invest Rs 1.75 lakh crore for expansion: Chairman Sanjiv Singh

www.businesstoday.in, 6th Aug 2018

Indian Oil Corporation, the country's leading firm on the Fortune 500 list, has drawn up an ambitious Rs 1.75 lakh crore investment plan to expand its production capacity. In the company's latest annual report, IOC chairman Sanjiv Singh said that the refining capacity will be enhanced to 150 million tonnes of petroleum products per annum by 2030 from the current 80.7 million tonnes... Read More

 

Adani, GAIL ink pact for regasification service
dailypioneer.com, 29th July 2018 
The Adani Ports and Special Economic Zone (APSEZ) signed a long-term agreement with the GAIL (India) Ltd to provide Liquefied Natural Gas (LNG) re-gasification services on a use or pay basis to the GAIL’s upcoming LNG import terminal at Dhamra.. Read More

 

Indian Oil shuts 40,000-bpd crude unit at Haldia plant after fire incident 
Business Standard, 27th July 2018 
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.. Read More

 

Indian Oil says Rs 4,300 cr Ennore LNG terminal to become operational by October

ETEnergyWorld, 19th July 2018

Indian Oil says Rs 4,300 cr Ennore LNG terminal to become operational by October New Delhi: Indian Oil Corporation (IOC), the nation’s largest fuel retailer, expects its upcoming 5 million tonne per annum Ennore Liquefied Natural Gas (LNG) terminal to start operations by October.. Read More

 

Reduce oil prices or expect demand to sink, Indian Oil warns Opec

livemint.com, 11th Jul 2018

The world’s fastest growing crude consumer has a warning for Organization of Petroleum Exporting Countries (Opec): start reducing prices, or waning demand will mean a curb in purchases from the crude cartel. At least that’s the suggestion from Sanjiv Singh, chairman of Indian Oil Corp. Ltd , India’s biggest refiner.. Read More

 

IOC chief says enough alternative sources of crude oil are available even if Iran supplies are disrupted: Report

BusinessToday.In, 3rd July 2018

India has not taken a firm stand on the Iranian oil imports versus risk of US sanctions debate yet, but the country's largest fuel retailer - and one of Iran's biggest customers - is reportedly "fully-prepared" for all scenarios. "We have a very wide crude basket. There's nothing we can't procure, there's nothing we can't process," Indian Oil Corp. Chairman Sanjiv Singh told Bloomberg. "So, even if Iran supplies get disrupted, the supplies to the Indian market will still continue. That's assured." According to him, Saudi Arabia alone can cover most of the world's supply shortfall.. Read More

 

IOC most profitable PSU for second consecutive year

thehindubusinessline.com, 31st May 2018

Fuel retailer Indian Oil Corporation (IOC) has for the second year in a row beaten Oil and Natural Gas Corp (ONGC) to become India’s most profitable state-owned company, raising questions over calls for the explorer to subsidize retailers amid soaring petrol and diesel rates.. Read More

 

Indian Oil Q4 profit rises 40% to Rs5,218 crore

livemint.com, 22nd May 2018 

State-run Indian Oil Corp. Ltd (IOC) on Tuesday said its fiscal fourth-quarter profit surged 40% to Rs5, 218 crore, driven by higher refinery margins and inventory gains.. Read More

 

Indian Oil Corporation Changes directorate 

Business Standard, 11th May 2018 l

Indian Oil Corporation announced that Sushma Rath Taishete, Joint Secretary, Ministry of Petroleum & Natural Gas has been appointed on the Board of Indian Oil as Government Director with effect from 11th May 2018 on ex-officio basis in place of Urvashi Sadhwani, Principal Adviser, Ministry of Petroleum & Natural Gas (MoP&NG).. Read More

 

Indian Oil board approves ₹4,221 cr ethylene glycol project 

thehindubusinessline.com, 27th Apr 2018 

The Board of Indian Oil Corporation at its meeting held on April 26 has accorded approval for implementation of the 357-KTA ethylene glycol project, along with associated facilities at Paradip based on off-gas of the fluid catalytic cracking unit.. Read More

 

Indian Oil’s Panipat refinery to expand capacity 

thehindubusinessline.com, 25th April 2018 thehindubusinessline.com, 27th Apr 2018

Indian Oil Corporation Ltd proposes to ramp up the petrochemical, fuel refining and biofuel manufacturing capacity of its Panipat Refinery.. Read More

 

India's IOC to start new PP unit in Paradip by June

Platts.com, 17th April 2018

State-owned Indian Oil Corp. expects to start its new 700,000 mt/year polypropylene unit in Paradip on the east coast of India by June, with commercial production expected by the end of this year, a company source said Tuesday.. Read More

 

IOC acquires Shell’s entire stake in Oman oilfield for $329 million

energy.economictimes.indiatimes.com, 6th April 2018   

IOC acquires Shell’s entire stake in Oman oilfield for $329 million New Delhi: Indian Oil Corporation (IOC), the nation's largest fuel retailer, today announced it has acquired Royal Dutch Shell’s entire 17 per cent stake in Makhaizna oilfield in Oman for $329 million. Read More

 

Indian Oil plans $22 billion expansion over five years

economictimes.indiatimes.com, 2nd April 2018 

Indian Oil Corp plans to invest 1.43 trillion rupees ($22 billion) in next five years as the country’s top refiner seeks to raise its annual capacity to about 3.2 million barrels per day by 2030, its head of refineries said on Saturday. Read More

 

Indian Oil Corporation Ltd announces cessation of Dr.B.Mahadevan as Director 

Equity Bulls, 19th Mar 2018 

Dr.B.Mahadevan, Independent Director has ceased to be a Director on the Board of IndianOil with effect from 19th March, 2018 consequent upon his resignation due to pre-occupation owing to other work commitments. Read More

 

Indian Oil, BPCL may buy 26% stake each in GAIL

livemint.com, 18th Mar 2018 

State-owned Indian Oil Corp (IOC) and Bharat Petroleum Corp Ltd (BPCL) may buy 26% stake each in gas utility GAIL India Ltd, paying the government over Rs20,000 crore each to become integrated energy firms. Read More

 

Indian Oil Corp bids for stake in Vietnam's Binh Son refinery

 

newindianexpress.com, 4th Mar 2018 

State-owned Indian Oil Corp (IOC) has bid for a stake in Vietnam's Binh Son Refining and Petrochemical Company as it looks at the South Eastern nation to expand business beyond Indian shores Read More
 
 
Indian Oil Corporation to invest Rs 70,000 crore to expand refining capacity

zeenews.india.com, 18th Feb 2018

Indian Oil Corp (IOC) will invest Rs 70,000 crore to raise its oil refining capacity by about a quarter by 2030 as it takes the lead to meet rising energy needs of the country Read More

 

B V Rama Gopal takes over as Indian Oil Corp director, refineries

moneycontrol.com, 13th Feb 2018 

B V Rama Gopal has taken over as director (refineries) of Indian Oil Corp (IOC), the nation's biggest oil firm Read More

 

Indian Oil to invest Rs 3,400 crore in Assam to augment operations

moneycontrol.com, 2nd Feb’18 

Indian Oil Corporation (IOC) will invest Rs 3,400 crore in Assam over the next five years to expand its operations by setting up new units as well as upgrading the existing ones, a senior IOC official said today Read More

 

Indian Oil Corp Q3 profit doubles to Rs 7,883 crore

businesstoday.in, 31st Jan, 2018 

Indian Oil Corporation (IOC), the country's largest oil marketing company, on Tuesday reported a close to two-fold jump in its third quarter net profit on the back of a higher inventory gain from the sharp rise in global oil prices and an increase in refining margins. Net profit in October-December this fiscal stood at Rs 7,883.22 crore, or Rs 16.63 per share, up from Rs 3,994.91 crore, or Rs 8.43 a share, in the same period a year ago, IOC chairman Sanjiv Singh told journalists. IOC also declared a 1:1 bonus share (one free share for every existing equity share of Rs 10 each). The board of directors declared an interim dividend of Rs 19 per share as well Read More

 

India's IOC shuts 350,000 mt/year Panipat HDPE/LLDPE swing plant after fire

Platts.com, 23rd Jan 2018

State-owned Indian Oil Corp shut its 350,000 mt/year high density polyethylene/linear low density polyethylene swing plant in Panipat, Haryana, following a fire at the unit Monday, a company source said Tuesday Read More

 

Indian Oil in tie-ups with Israeli firms

thehindubusinessline, 16th Jan 2018 

Indian Oil Corporation has signed letters of intent (LoI) with Phinergy, an Israeli start-up, and YEDA, a technology spin-off from Israel’s Weizmann Research Institute Read More

 

LPG receiving jetty to be ready for use by March

thehindu.com, 10th Jan 2018 

Indian Oil Corporation (IOC) has said that work on the ₹225-crore LPG receiving jetty on Puthuvype island, which is part of a larger project costing a total of ₹715 crore and including a storage facility, is nearing completion. The cost of jetty construction is ₹183 crore. Another ₹42 crore will go into dredging works, said a press release here Read More

 

Indian Oil Corporation takes up 2018 as 'Year of Trust'

moneycontrol.com, 3rd Jan 2018 

Indian Oil Corp (IOC), the nation's biggest oil firm, has adopted 2018 as the 'Year of Trust' as it earned belief in the delivery potential in programmes like PMUY, and decision of early implementation of BS-VI fuel norms. Read More

 

Indian Oil Corporation to tap into unconventional source of energy

newindianexpress.com, 21st December 2017 

Soon, one-fifth of the traditional energy vending spots in the state will start generating unconventional energy as the 220 outlets of the Indian Oil Corporation (IOC) are all set to install solar panels by this year-end. The outlets will be installing panels under three grades with the capacity to produce 10 KW, 15 KW and 20 KW electricity which will enable each centre to meet more than 60 per cent of their energy needs through the solar source.  Though the company started the process in 2013- 14, which had the participation of 150 outlets in the state, the extent of solar power generation was meagre. To give a fillip to the programme, the IOC under the new system is giving a subsidy of up to 60 per cent to the outlets for installing the panels. Read More

 

Indian Oil prepares for shift to a less carbon-intensive future

livemint.com, 7th Dec 2017 

The country’s largest refiner Indian Oil Corp. Ltd is making a strategic shift to a less carbon-intensive future by getting into clean energy and related infrastructure, while keeping refinery expansion plans flexible for course correction, said chairman Sanjiv Singh in an interview Read More

 

Indian Oil to take Rs 4,200 crore hit under GST regime

timesofindia.indiatimes.com, 5th De


 
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