|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||392.80 - 397.05|
|52-week range||290.25 - 462.60|
|PE ratio (TTM)||8.55|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Indian Oil Corp is considering buying Venezuelan crude for the first time in at least six years, in a move that could help the crisis-struck South American nation settle unpaid bills with another state-owned Indian energy firm. Venezuela depends on oil for more than 90 percent of its export revenues. Venezuela's national oil company PDVSA has missed debt payments to ONGC Videsh, the foreign investment arm of Indian explorer Oil and Natural Gas Corp, for six month and wants to settle $449 million dues using existing and new Indian clients.
Nagpur, Nov 19 (IANS) In a major step in spreading the use of green energy, Indias first electric vehicle (EV) charging station was started here on Sunday by Indian Oil Corp (IOC), according to the state-run oil marketing company. Indian Oil has partnered with cab aggregator Ola to set up the charging station at an IOC petrol pump here. "Nagpur, being the first city to introduce the electric public transportation model in India, has added one more feather to its cap by adding the first electric charging station at Indian Oil's COCO (company-owned, company-operated) fuel station in the city," an IOC release said.
Bhubaneswar, Nov 16 (IANS) Over Rs 30,000 crore would be invested over a two-year period to set up small scale industries in the petrochemical sector in eastern India, Union Petroleum Minister Dharmendra Pradhan said on Thursday. Speaking to reporters after inaugurating the Petrochemical Investors Conclave here, Pradhan said that over one lakh employment opportunities are likely to be generated in India's eastern region. Addressing the inauguration event, the minister noted that state-run Indian Oil Corp (IOC) has already commissioned a 15-million tonnes per annum oil refinery at Paradip port town on the Odisha coast at an investment of Rs 35,000 crore.
India's top refiner Indian Oil Corp on Wednesday began trading crude oil through its Singapore unit, buying a million barrels of Nigerian oil Akpo, the state-run company's head of finance AK Sharma said. IOCL Singapore Pvt Ltd has bought the parcel from Total for Dec. 8-17 loading, he said. "We have got a very good deal," Sharma told Reuters, adding the cargo will be co-loaded with a million barrels of Angola's Girassol oil, which the refiner has procured under a term deal.
NEW DELHI/MUMBAI (Reuters) - State-owned Indian Oil Corp Ltd aims to have capacity to import about 13.5 million tonnes of liquefied natural gas (LNG) in five years, its head of business development said on Friday, helping India to gradually move to a gas-based economy. Prime Minister Narendra Modi's government wants to raise the share of natural gas in India's energy mix to 15 percent in the next few years from about 6.5 percent now. Indian Oil Corp (IOC) currently holds rights to annually import 2.25 million tonnes of the super cooled fuel at Petronet LNG's Dahej terminal in western Gujarat state.
REUTERS - Indian Oil Corp Ltd reported a nearly 18 percent rise in second-quarter profit, but missed estimates by a wide margin. Net profit of the country's top refiner rose to 36.96 billion rupees in ...
Indian Oil Corp, the country's top refinery, has delayed maintenance shutdown at its 300,000 barrels per day (bpd) Paradip refinery in eastern Odisha state to March-April, a company spokesman said on Friday. IOC had earlier planned to shut the refinery for 20 days this month. "Due to a major job at the hydrogen unit, the refinery will be shut for about 45 days in March-April, when we will carry out maintenance at other units as well," he said, adding that the shutdown has been deferred to meet local fuel demand.
Indian Oil Corp is willing to buy state-owned GAIL Ltd or Oil India Ltd, the company's head of finance, A.K.Sharma, said on Monday Indian Oil also plans to open offices in Bangladesh and Myanmar in the ...
A push to use more natural gas by the world’s fastest-growing oil guzzler is getting a boost from an unlikely source: the nation’s gasoline and diesel makers.
Mumbai, Oct 2 (IANS) Indian Oil Corp. (IndianOil) on Monday said it has received its first US crude oil cargo of 1.6 million barrels. According to the company, it received the shipment at Paradip port in Odisha. "MT New Prosperity, a Very Large Crude Carrier (VLCC), of capacity 2 million barrels of crude, left US Gulf Coast on 19th August and arrived at Paradip port today," the company said in a statement.
Malaysian state oil firm Petronas is looking to buy a stake in Indian Oil Corp's Ennore liquefied natural gas import terminal, the Indian firm's chairman said on Wednesday. IOC aims to start operating ...
India's state oil refiners - long focused on churning out transport and cooking fuels - are planning a $35 billion push into petrochemicals to meet an expected surge in demand for goods ranging from plastics to paints and adhesives. The drive comes as the government seeks to promote durable, cheaper materials in industries such as farming and food packaging, while refiners eye long-term threats to their business from renewable energy and a shift to electric vehicles. India's per capita consumption of synthetic polymers, for instance, used to make various grades of plastics, is just 10 kg (22 lbs) a year, compared with a global average of about 32 kg.
New Delhi, Aug 4 (IANS) State-run marketing firm Indian Oil Corp (IOC) on Friday said its board has approved the acquisition of up to 50 per cent equity in GSPL LNG Ltd, which is setting up a 5-million tonnes per annum (MTPA) liquefied natural gas (LNG) terminal at Mundra Port in Gujarat. At its meeting here on Thursday, the "Indian Oil Board has given its in-principle approval for acquiring up to 50 per cent equity in GSPL LNG Ltd, which is setting up a 5-MTPA LNG terminal at Mundra Port," an IOC release said. GSPL LNG is a joint venture of state-run Gujarat State Petroleum Corp (GSPC) and private conglomerate Adani Enterprises Ltd.
India's top refiner Indian Oil Corp will spend $2.4 billion to increase capacity at its refinery in western India by about a third over the next few years to meet rising local demand for fuel. The plan, announced on Friday, will enable the plant in Gujarat state to process 360,000 barrels per day (bdp) of oil by the end of 2021. The secondary units at the plant will be ready by the end of 2022, IOC said in a statement.
Indian Oil Corp Ltd said it is in talks with its partners to scout for an alternative, cheaper site for the Pacific Northwest LNG terminal after the recent pullout of the lead developer cast doubt on the future of the Canadian project. Malaysia's state-owned Petroliam Nasional Bhd (Petronas), which held a majority 62 percent stake in the proposed C$36 billion ($29 billion) Pacific NorthWest LNG Project in British Columbia, said last week it was abandoning the plan due to weak global prices. Sanjiv Singh, chairman of Indian Oil, which has a 10 percent stake in the Canadian project, said the company remained interest in going ahead with at least part of the plan.
New Delhi, Aug 3 (IANS) State-run refiner Indian Oil Corp (IOC) on Thursday reported a massive 45 per cent fall in its standalone net profit for the first quarter ended June, caused by a drop in refining margins and higher inventory losses. IOC posted a net profit of Rs 4,548.51 crore in the quarter under consideration, as compared with the Profit After Tax (PAT) of Rs 8,268.98 crore in the same quarter of the last fiscal.
India's biggest refiner Indian Oil Corp wants to supply at least 10 percent of its expanding refining capacity from its own oil and gas assets in the medium term, the company said in its latest annual report. India, the world's third biggest oil consumer, imports about 80 percent of its oil requirements as its local production has not increased for decades. In its quest to become an integrated oil firm, IOC wants to expand its current portfolio of its oil and gas blocks.
SINGAPORE/NEW DELHI (Reuters) - Indian companies have stepped up purchases of high-sulphur crude oil from the Middle East and Russia in the spot market to feed demand from expanded refining capacity, trade sources said. Four refiners in the world's third largest crude importer bought 9 million barrels of Middle East and Russian crude loading in July-August via spot tenders last month, drawing down excess supplies in the market after China's demand slowed. Refiners such as Indian Oil Corp (IOC) and Bharat Petroleum Corp Ltd (BPCL) have opted to buy more spot crude as they gradually ramp up output, rather than increase long-term crude supplies, the sources said.
SINGAPORE/NEW DELHI (Reuters) - India's largest refiner Indian Oil Corp is setting up an office in Singapore that will handle crude oil purchases and the sales of oil products from its refineries later this year, trade sources said on Friday. The state-run company is part of a growing group of refiners in Asia that have set up offices in Singapore's oil hub to keep closer tabs on the market and react more quickly to changes. IOCL Singapore - as the Singapore unit will be named - will initially have two staff to handle some of the crude purchases for its refineries, said the sources, who declined to be named because they are not authorized to speak to the media.
Mumbai, June 16 (IANS) India on Friday joined the league of select countries like the US and Australia where fuel prices are revised on a daily basis. The development comes after the three state-owned oil marketing companies (OMCs) -- Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -- rolled-out the daily dynamic pricing mechanism for petrol and diesel from Friday morning. On the occasion, Petroleum and Natural Gas Minister Pradhan said India has become the first country in the world to adopt dynamic fuel pricing on such a large scale.
New Delhi, June 15 (IANS) Petrol will become cheaper by Rs 1.12 per litre while diesel price per litre will be lower by Rs 1.24, excluding state levies, from Friday. "The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision," the Indian Oil Corp. said in a statement on Thursday. Similarly, the new diesel prices will be Rs 54.49 in Delhi, Rs 56.65 in Kolkata, Rs 59.90 in Mumbai and Rs 57.41 in Chennai.
Mumbai, June 15 (IANS) State-run Indian Oil Corp. on Thursday said it has successfully tested all protocol systems related to dealers and customers to ensure a successful roll out of the daily dynamic ...
New Delhi, June 14 (IANS) Three state-run oil marketing companies (OMCs) on Wednesday formalised plans to set up one of the world's largest refinery-cum-petrochemicals complex -- West Coast Refinery Project -- located in the Ratnagiri district of Maharashtra. The three state-owned OMCs -- Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -- entered into a joint venture agreement for the creation of the proposed complex. Last year, the government disclosed that the three OMCs will build a 60 million metric tonnes per annum (MMTPA) refinery along with a petrochemicals complex in Maharashtra.
New Delhi, June 14 (IANS) The hurdles have been cleared for India to switch over from Friday to the daily pricing mode for transport fuels in line with global rates as petroleum dealers have withdrawn their call for closure of vends on June 16. Petroleum Minister Dharmendra Pradhan told reporters here on Wednesday that the dealers were agreeable to the new timing and the countrywide daily revision of petrol and diesel prices from June 16 as decided. At present, the state-run oil marketing companies (OMCs) review and revise retail fuel prices every fortnight on the basis of global crude oil prices, while the revision takes effect from midnight.
New Delhi, June 11 (IANS) State-run oil marketing companies (OMCs) have set up a system for the smooth rollout of the daily revision of transport fuel prices across the country, the biggest OMC Indian Oil Corp (IOC) said on Sunday, even as a petrol pump dealers' body threatened to go on strike against dynamic fuel pricing. Petrol and diesel prices will be revised daily from June 16 onwards by the three OMCs in sync with global crude oil prices. Daily revision of Retail Selling Prices (RSP) has already been implemented on a pilot basis in Udaipur, Jamshedpur, Visakhapatnam, Chandigarh and Puducherry from May 1.