Saudi Aramco has offered Indian Oil Corp Arab Heavy crude oil instead of Arab Light following an attack on its oil facilities over the weekend, an industry source told Reuters on Tuesday.
Indian Oil Corp, the country’s top refiner, plans to invest 2 trillion rupees ($27.98 billion) in five-seven years to meet energy needs of diverse user groups, Chairman Sanjiv Singh told a shareholders meeting on Wednesday.
Indian Oil Corp is seeking a liquefied natural gas (LNG) cargo for delivery over late August to early September, two industry sources said on Wednesday. The tender closes on Wednesday, one of the sources said.
Indian Oil Corp (IOC) and its partner Adani Gas Ltd will invest about Rs 9,600 crore in rolling out infrastructure for retailing CNG to automobiles and piped natural gas to household kitchens in 10 cities for which they recently won licences for, the state-owned firm said on Monday.
IOC, GAIL pact to take stake in Adani’s Dhamra LNG project expires, no investment made: Dharmendra Pradhan
State-owned refiner Indian Oil Corp (IOC) and gas utility GAIL India Ltd’s initial agreement to buy a 50 per cent stake in Adani Group’s Rs 5,000-crore Dhamra LNG project in Odisha has expired, Oil Minister Dharmendra Pradhan said Monday.
Financial profiles of state-owned oil marketing companies such as Indian Oil Corp (IOC) may be at risk in the near to medium term due to pressure from the government to increase shareholder returns, Fitch Ratings said Friday.
Indian Oil Corp, the country’s top refiner, plans to fully shut its 160,000 barrels per day Mathura refinery in northern Uttar Pradesh state for about 38 days from November for routine maintenance, two sources familiar with the plan said.
According to Reuters, two industry sources have stated that Indian Oil Corp. is seeking to purchase a spot LNG cargo.
According to the sources, the Indian company is looking to receive the cargo this June
India’s top refiner Indian Oil Corp (IOC) has set up a trading desk at its office here to buy crude oil from international market on a real-time basis, helping it cut import price by locking in best price and quality, its Director (Finance) A K Sharma said.
The recent award of city gas distribution rights to oil marketing companies such as Indian Oil Corp (IOC) and Bharat Petroleum Corp Ltd (BPCL) will help them diversify and maintain their market shares in the domestic cooking and auto fuel markets over the long term, according to Fitch Ratings.