Staterun oil marketing companies IOC, BPCL and HPCL are building a buffer to cushion uncertainty on pricing freedom of retail fuel in the run-up to the general elections.
Shares of oil marketing companies including BPCL, HPCL and IOC are trading 1-3 percent higher on Thursday after Brent crude oil prices dropped in the global market. Currently, Brent crude prices are trading around USD 58.97 per barrel.
Fuel retailers such as Bharat Petroleum Corporation, Hindustan Petroleum Corporation and Indian Oil Corporation recouped some of August-September’s losses in October-November after sharp fall in crude oil prices.
State-owned power major, NTPC signed MoUs with Vehicle Aggregators Ola, Lithium, Shuttl, Bikxie, Bounce, Electrie and Zoom Car for development and utilization of public charging infrastructure today.
The government is planning to sell shares worth over $2 billion in state-owned oil firms – Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC) and Oil India Ltd (OIL) – the Economic Times reported citing sources familiar with the development.
Indian Oil Corp (IOC), the country’s biggest buyer of Iranian oil, Friday hoped that the US will give waiver to the company for continuing import of oil from the Persian Gulf nation.
State-owned Indian Oil Corp (IOC) Thursday said it will invest Rs 54.63 billion in setting up city gas distribution network for retailing CNG to automobiles and piped cooking gas to households in seven districts.
The Petroleum and Natural Gas Regulatory Board (PNGRB) on Monday declared the final list of winners of city gas retailing licences that had billionaire Gautam Adani’s group, state-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Torrent Gas as the big winners.
Indian Oil Corporation (IOC) has bagged the tender for city gas distribution (CGD) projects in Coimbatore and Salem.
Indian Oil Corporation (IOC), the country’s largest fuel retailer, today reported a 50 per cent jump in consolidated net profit at Rs 7,092 crore for the first quarter ended June 2018 on the back of improved refining margins.