The Rs 21,000 crore mega fertiliser project of Hindustan Urvarak & Rasayan, a three-way joint venture between Coal India Ltd (CIL), NTPC and Indian Oil Corp (IOC), has finally taken off.
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, recorded a 65 per cent jump in crude oil production to 2.66 Million Tonne (MMT) last financial year (2017-2018), the company said in a statement. The company plans to source 10 per cent of its crude requirement from its own oil and gas assets.
India Oil chairman, Sanjiv Singh, said that bringing petroleum products under GST would be advantageous for us because then it will be a seamless transfer of taxes.
Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region.
India’s oil imports from Iran rose nearly 17 percent in February from a month earlier as refiners received less crude from key OPEC producers Saudi Arabia