India’s Chennai Petroleum will stop processing Iranian crude oil from October to keep its insurance coverage once new sanctions by the United States against Iran go into effect, three sources familiar with the issue said.
Public sector undertaking Indian Oil Corporation (IOC) will invest over Rs 286 crore to enhance its LPG bottling capacity, including setting up of two greenfield plants, in North East by 2020.
Indian Oil Corp. Ltd, the country’s largest oil marketing company, has sought shareholder approval to raise up to ₹20,000 crore through a private placement of debentures in 2018-19, Mint reported, citing two people aware of the development.
Oil marketing companies (OMCs) Indian Oil, BPCL and HPCL have lost 31-46 per cent of their market cap since their highs in 2017. While the underperformance was on account of higher crude oil prices, softening refining and marketing margins did not help.
An Indian shipping company says one of its crude oil tankers suffered an explosion off the coast of Oman and three of its sailors are missing.
Indian Oil Corporation Ltd (IOCL) on Monday told the Supreme Court that it was conducting a study on using mixture of CNG and hydrogen fuel for buses and would take around six months to come out with a “workable result” on it.
Mr. Akshay Kumar Singh has joined as Director (Pipelines) of Indian Oil Corporation (IndianOil), the country’s largest commercial enterprise and the top-ranked Indian corporate in Fortune’s ‘Global 500’ listing.
Reliance Industries Ltd (RIL) has approached three state-run oil marketing companies to buy petroleum coke (petcoke) from them to fire its $5 billion petcoke gasifiers, according to three officials aware of the development.
Indian Oil Corp has bought 6 million barrels of U.S. crude for delivery in November to January, a company official said, as the nation’s top refiner scouts for alternatives to Iranian oil ahead of impending U.S. sanctions.
Seven Indian companies have made it to the latest Fortune 500 list of the world’s biggest corporations in terms of revenue, with state-owned IOC continuing to be the highest ranked Indian firm and Reliance Industries (RIL) jumping 53 places.