Indian Oil Corp hopes to restart a 150,000-barrel-per-day (bpd) crude distillation unit (CDU) at its Panipat refinery in the next 2-3 days, its head of refineries said on Monday, days after the unit caught fire due to a naphtha leak.
Grappling a shortfall in tax revenues, the government has pressed cash-rich PSUs like Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC) to pay a second interim dividend for the current fiscal after seeking regulatory nods.
The decision of the world’s largest sovereign wealth fund to stop investing in oil and gas explorers globally may affect Indian companies, such as Reliance Industries Ltd (RIL), Oil and Natural Gas Corp. Ltd (ONGC), Indian Oil Corp.
As tensions with Pakistan escalated, Indian oil companies have put in motion a “very strong plan”, including moving a convoy of 500 trucks, to ensure uninterrupted fuel supplies to all defence and strategic assets, top officials said Wednesday.
In a rare move, the government has re-appointed A K Sharma as the Director (Finance) of Indian Oil Corp (IOC). This is a first under the current government at the Centre, where a PSU director has been re-employed in the same position after retirement.
Indian Oil Corp, the nation’s largest oil refiner, on Monday said it has signed its first annual deal to buy up to 3 million tonnes, or 600,000 barrels a day, of US oil.
The Expert Appraisal Committee under the Environment Ministry has given “green signal” to Indian Oil Corporation Ltd for setting up a grass root petroleum storage and distribution terminal in Telangana.
Q3 EBITDA at Rs 36 bn and PAT at Rs 7.2 bn came in much higher than Street expectations of net loss at both Ebitda and PAT levels, helped by FX gains and lower interest (-29% q-o-q/+29% y-o-y).
Indian Oil Corp (IOC) is seeking a commissioning cargo for its new Ennore liquefied natural gas (LNG) terminal in south India, two industry sources said on Wednesday. The state-owned company is seeking a partial cargo for delivery
State-owned Indian Oil Corp (IOC) may raise about USD 3 billion more through US dollar bonds issue after the Reserve Bank permitted fuel retailers to raise an overseas loan to check fall in rupee value, its Chairman Sanjiv Singh said Wednesday.