In a first-of-its-kind venture in the world, Indian Oil Corporation is planning to utilise off-gases (waste gas) from various processing units of its refineries for production of ethanol.
Former oil secretary Vivek Rae has resigned as independent director from the board of Indian Oil Corporation (IOC) owing to differences with the company management.
On Wednesday, a faux pas by the Indian Oil Corporation (IOC) led to an embarrassment of sorts after a ‘technical glitch’ on its website wrongly notified that petrol and diesel prices have been cut by 60 paise and 59 paise respectively, before it was found out that the reduction actually was of 1 paise per litre on both the petro products.
After continuous hike in fuel price for 16 consecutive days, there is ‘a drop’ in the rates- of one paisa. The Indian Oil Corporation (IOCL) in a statement clarified that the petrol prices in Delhi have gone down by one paisa and not 60 paisa, as reported earlier.
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, today announced a 40 per cent jump in net profit for the quarter ended March 2018 at Rs 5,218 crore on a standalone basis as compared to Rs 3,720 crore reported for the same quarter previous fiscal.
The proposed 125km pipeline by the Hiranandanis in south Bengal which will stretch to Bangladesh is facing more hurdles with state-owned Indian Oil Corporation claiming to be the sole supplier of regasified liquefied natural gas (RLNG) under an MoU between New Delhi and Dhaka.
State-owned refiner Indian Oil Corporation has expressed its interest in acquiring the marketing arm of gas transporter GAIL India, as the government plans to split the firm into two before the end of this fiscal.
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.
Saudi Aramco, the world’s largest oil producer, will hold an equal stake in the planned $44-billion refinery-cum-petrochemical project in Maharashtra, Ram Gopal, director of refineries at Indian Oil said.
Oil companies shares tank 8% on reports government to ask to absorb Re 1/litre hike; HPCL, IOC, BPCL crash
Shares of almost all the oil marketing companies cracked in the late morning trades on the news reports that the government may ask the firms to absorb Re 1 per litre hike and pass on the maximum possible benefit to the customers