India’s state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi’s goal of making the fuel a bigger part of the country’s energy mix.
In a major step in spreading the use of green energy, India’s first electric vehicle (EV) charging station was started here on Sunday by Indian Oil Corp (IOC), according to the state-run oil marketing company.
Following the upgrade of India’s sovereign rating to “Baa2”, Moody’s has also upgraded the issuer rating for five government-owned companies in the oil and gas sector to Baa2 from Baa3.
Oil and Natural Gas Corporation(ONGC) share price fell nearly 2 percent while oil retailers HPCL, BPCL and IOC gained 1-2 percent intraday Wednesday, after sharp correction in crude oil prices.
State-owned Indian Oil Corp(IOC) has been given green nod for augmenting its Koyali-Sanganer pipeline (KSPL) capacity up to 6 million tonnes per annum (MTPA) from existing 4.6 MTPA at a cost of Rs 273.23 crore, a senior government official said today.
State-owned Indian Oil Corp. Ltd (IOC) has been given green nod for augmenting its Koyali-Sanganer pipeline (KSPL) capacity up to 6 million tonnes per annum (MTPA) from existing 4.6 MTPA at a cost of Rs273.23 crore, a senior government official said on Monday.
State-owned refining and marketing major, Indian Oil Corporation (IOC) on Friday reported an 18.4% year-on-year (YoY) rise in net profit at Rs 3,696.29 crore for the quarter ended September 30.
With GST resulting in a 10% decline in MRP prices for lubricants, Indian Oil Corp might see its lubricant division post $1.1 billion in revenues, almost the same that it earned in 2016-17.
On October 2, the first in a series of shipments of US crude oil to India arrived at Odisha’s Paradip port. Two more vessels carrying a combined 3 million barrels are set to arrive in November, according to a senior official with Indian Oil Corporation (IOC).
State-owned Indian Oil Corporation (IOC) has dropped plans to merge its subsidiary Chennai Petroleum Corp Ltd (CPCL) with itself, a top company official said.