Indian Oil Corp

Indian Oil Corp plans $28 billion investment by 2023-24: Chairman

IOC through its 11 refineries controls about a third of India`s 5 million-barrel-per-day (bpd) refining capacity.

Aug 29, 2019, 12:56 PM IST

Adding over 78,000 petrol pumps is uneconomical, says Crisil

The three public sector oil marketing firms - Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) - in November last year advertised to open 78,493 more petrol pumps in the country. This on top of 64,624 fuel retail outlets currently operating in the country.

Jun 20, 2019, 16:53 PM IST

IOC net rises 17% on higher refinery margins

The net profit of Rs 6,099.27 crore, or Rs 6.46 per share, in January-March 2019 was 16.88 percent higher than Rs 5,218.10 crore, or Rs 5.51 per share, reported in the year-ago period, IOC Chairman Sanjiv Singh told reporters here.

May 18, 2019, 18:13 PM IST

IOC ties up oil from US, Saudi to make up for Iran shortfall

Iran supplied more than a tenth of India's oil needs before the reimposition of US sanctions against the Persian Gulf nation stopped supplies this month.

May 18, 2019, 18:08 PM IST

IOC signs $1.5 bn deal to buy US crude oil

This is the first time any Indian refiner has signed an annual contract since the country in 2017 began importing crude oil from the US.

Feb 18, 2019, 18:19 PM IST

Oil cos not to recoup losses arising from Re 1/ltr subsidy on petrol, diesel

IOC along with Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.

Jan 03, 2019, 10:59 AM IST

IOC to buy back 3% equity shares for Rs 4,435 crore

The company board also recommended an interim dividend of 67.5 percent (Rs 6.75 per share) for the 2018-19 fiscal.

Dec 13, 2018, 16:34 PM IST

India to pay in rupees for Iranian oil

Oil refiners such as state-owned Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) could use UCO Bank or IDBI Bank to route oil payments to Iran, the official added.

Sep 20, 2018, 18:12 PM IST

SBI to stop handling Iran oil payments: IOC

Iran offers Indian refiners a 60-day credit period on oil sales, which means payment for cargoes loaded from end-August will be due in November.

Jun 15, 2018, 13:03 PM IST

IOC, BPCL may buy 26% stake each in GAIL

At Friday's closing price of Rs 440.85 a share for GAIL on BSE, the stake is worth close to Rs 41,000 crore.

Mar 19, 2018, 13:58 PM IST

IOC Q2 net up 18% at Rs 3,696 crore

Revenues soared to Rs 1.1 lakh crore from Rs 1 lakh crore last year.

Oct 27, 2017, 15:41 PM IST

Indian Oil buys new US crude grades for December delivery

The refiner has bought about 5.5 million barrels of US crude so far this year.

Oct 10, 2017, 08:40 AM IST

Indian Oil willing to buy GAIL or Oil India- Exec

Indian Oil also plans to open offices in Bangladesh and Myanmar in the next 4-6 months.

Oct 09, 2017, 13:59 PM IST

IOC board clears Rs 27,000 crore refinery of its unit CPCL

The final approval of the project would be obtained after preparation of Detailed Feasibility Report of the project.

Sep 25, 2017, 16:56 PM IST

IOC to make first ever crude oil purchase from US this year

The official said IOC had last month sealed a deal to import 1.6 million barrels of crude from the US for delivery in the first week of October at its Paradip refinery in Odisha -- the first ever such purchase of US crude by an Indian state-run refiner.

Aug 10, 2017, 14:35 PM IST

India buys first ever US crude oil, to step up purchases

The purchase comes after Indian Prime Minister Narendra Modi`s visit to the US in June when President Donald Trump said his country looked forward to exporting more energy products to India.

Jul 10, 2017, 12:32 PM IST

Indian Oil Q4 net soars 85% at Rs 3,721 crore on higher income

State-run Indian Oil Corp (IOC) on Thursday posted an impressive 85 percent jump in net profit for the fourth quarter ended March at Rs 3,721 crore owing to better revenue from operations, even as refining margins grew.

May 25, 2017, 17:43 PM IST

India cuts oil import plans from Iran by a quarter over gas field row

India plans to order about a quarter less Iranian crude oil than it bought last year, people familiar with the matter said, as state refiners cut term purchase deals over a row between New Delhi and Tehran on development of a natural gas field.

May 03, 2017, 13:56 PM IST

Petrol, diesel prices to be revised daily from May 01

Petrol and diesel prices will be revised on a daily basis from Monday in select towns in sync with international rates, much like it happens in most advanced markets.

Apr 30, 2017, 21:57 PM IST

Iran dismisses India's threat to cut oil imports

Iran has dismissed India's decision to cut oil imports from Tehran by a fifth over delay in award of a gas field and said it has other buyers.

Apr 06, 2017, 17:53 PM IST