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Oil firm News

13 Dec 2015

IOC to invest Rs 1.75 lakhs crore in expansion projects

IOC, India's largest oil firm, will invest Rs 1.75 lakh crore over the next seven years on expanding refinery capacity, building petrochemical plants and laying pipelines, a company official said.

13 Aug 2015

IOC's Q1 profit doubles on higher refining margin

Net profit of Rs 6,435.70 crore, or Rs 26.51 per share, in the April-June quarter, compared with Rs 2,522.94 crore, or Rs 10.39 a share, net profit in the same period of last fiscal, the company said in a regulatory filing.

BP chief executive

15 Jul 2015

BP seeks higher gas price for undeveloped discoveries

BP chief executive Bob Dudley yesterday met Prime Minister Narendra Modi, first since the BJP-led government stormed to power last May, and followed it up with a meeting with Oil Minister Dharmendra Pradhan this morning.

09 Jul 2015

Essar Oil signs pact to sell 49% stake to Russia's Rosneft

Essar said it "signed a non-binding Term Sheet with regard to Rosneft?s participation in the equity capital of Essar Oil Limited with a share of up to 49 per cent."

09 Jul 2015

Essar Oil signs pact to sell 49% stake to Rosneft

Essar Oil shares surged as much as 5.1 per cent on Thursday to Rs 198.35 after Russia's Rosneft signed a deal to acquire up to 49 per cent stake in its Vadinar oil refinery.

16 Jun 2015

Govt plans selling 3% stake in BPCL to raise Rs 1,800 cr

Finance Ministry has moved a Cabinet note for inter-ministerial consultations for selling 2.16 crore shares in BPCL through a public offer, official sources said.

Brazilian telecoms firm

02 Apr 2015

Brazil's Oi slashes 1,070 jobs to cut costs

The company announced it was making the cuts to reduce by around 20 percent personnel-related costs, and would not proceed with planned hirings.

30 Mar 2015

Oil giant Total sells Nigerian oil field stake for $569 mn

Total`s sale of its share in the onshore Oil Mining Lease 29 to Aiteo Eastern E&P comes after the French group made two similar divestments in Nigeria. The three transactions reached a sum of $1 billion.

Indian Oil Corp

18 Aug 2014

IOC to hike processing of cheaper crude to 30% by 2017-18

Indian Oil Corp (IOC), the nation's largest oil firm, plans to raise processing of cheaper crude oil varieties to 30 percent by 2017-18 as part of its efforts to improve margins.

14 Jul 2014

IOC seeks nod to fix borrowing limit at Rs 1.1 lkh cr

IOC officials said the company's current borrowing stands at about Rs 70,000 crore.

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