The government’s latest plan to reduce stake in select state-run companies including oil and gas firms could be credit negative for Indian Oil Corporation (IOC), Bharat Petroleum (BPCL) and Oil India, Moody’s Investors Service said in a report.
State-owned refinery Indian Oil Corporation (IOC) and gas utility GAIL India’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, said Dharmendra Pradhan, oil minister.
The Indian Oil Corporation (IOC), which has halted the construction of liquefied petroleum gas (LPG) import terminal at Puthuvype off Kochi following protests, has conducted a risk analysis study and prepared a Disaster Management Plan (DMP).
Indian Oil plans to set up a diesel exhaust fluid plant in Bengal at an investment of around Rs 150 crore to support the introduction of Bharat Stage-VI compliant fuel from April 1, 2020. The investment is part of the company’s expansion plans in the state across businesses.
Indian Oil Corporation Ltd has added 8.86% over last one month compared to 3.93% gain in S&P BSE Oil&Gas index and 6.68% rise in the SENSEX Indian Oil Corporation Ltd fell 1.98% today to trade at Rs 160.9.
Punjab Jail Department, with the active assistance of the Indian Oil Corporation (IOC), will open retail outlets of the Indian Oil Corporation (IOC) across the Central Prison Premises in the State.
Weaker benchmark GRM (gross refining margin) and lower marketing margins are likely to take a toll on Indian Oil Corporation’s (IOCL) March quarter results, which is scheduled to be released today. Edelweiss Securities estimates the company’s loss at Rs 1,609.4 crore for the quarter under review.
State-owned Indian Oil Corporation (IOC) is in talks with battery makers to license its new technology, which boosts lead-acid battery life by 30% and cuts charging time by 40%, or jointly manufacture storage devices.
Supply of ultra-clean Euro-VI grade petrol and diesel has begun in cities adjoining the national capital from Monday, Indian Oil Corporation (IOC) said.
Chart Industries, Inc. and Indian Oil Corporation Limited (IOCL) have signed a memorandum of understanding (MOU), aimed at promoting the development of the LNG market in India.