State-owned fuel retailers IOC, BPCL and HPCL will go in for increased borrowings to sustain high dividend payments and capital spending this fiscal, keeping their credit metrics weak, Moody’s Investors Service said today.
The lack of urgency shown by the government in resolving issuance of ‘non-explosive licences’ to Nepali gas bullets is likely to hit the supply of liquefied petroleum gas (LPG)in the near future.
Hindustan Oil Exploration Company (HOEC) has announced the grant of Petroleum Mining Lease to Dirok field, Assam, on August 25, 2017 and the commencement of commercial production from the field forthwith.
The government has given an expert group time till October-end to prepare a blueprint for raising India’s refining capacity by 2040 to match a more than doubling of oil demand.
State-owned Indian Oil Corp (IOC) will invest about Rs 52,000 crore in expanding Paradip refinery and setting up petrochemical complex after the Odisha government agreed to restore part of tax incentives, a top source said.
IOC and the Odisha government have agreed on modalities to resolve the long-running tax dispute relating to the Paradip refinery, sources said.
Public sector petrochem giant Indian Oil Corporation ( IOC) is going to launch its 450 kg jumbo pack of LPG in entire West Bengal this financial year keeping bulk consumers as target buyers.
Energy Efficiency Services Limited (EESL) plans to start sale of LED bulbs via petrol pumps from UP and Maharashtra and would expand to other states later.
State-owned Indian Oil Corp (IOCBSE 7.99 %) today said its board has approved Rs 15,034 crore investment to expand its Gujarat refinery by 2022.
IOC’s stocks rose 4.70 per cent in early trading on Friday at the BSE, extending yesterday’s gains triggered by the report that the government has decided to phase out kerosene subsidy.