"indian-oil-corporation"

Indian Oil Corporation raised LPG production by nearly 30 per cent and operated refineries above 100 per cent utilisation as Strait of Hormuz disruptions threatened energy supplies. IOC also diversified crude sourcing, secured alternative supplies and reported record operating performance

India and Mauritius have deepened energy ties through a five-year agreement under which Indian Oil Corporation will supply Mauritius' entire import requirement of petrol, diesel and aviation turbine fuel, alongside wider cooperation in oil and gas, infrastructure and biofuels

Plans for the Andaman and Nicobar Islands' first LNG-based power plant advanced as authorities sought public comments on environmental reports. The 55 MW project aims to replace diesel-based generation, lower emissions, reduce fuel costs, and improve sustainable energy supply

India's imports of Russian crude oil reached a record high in June, rising 34 per cent from May to EUR 4.5 billion, according to CREA. Despite higher export volumes, Russia's oil revenues declined due to lower global crude prices, the report said

India's Russian crude oil imports climbed 34 per cent to a record high in June, reaching EUR 4.5 billion despite lower Russian export revenues. The surge boosted supplies to major Indian refineries, reinforcing India as Russia's second-largest fossil fuel buyer

The small outages are caused by regional demand-supply mismatches and shifting sales patterns, the IOC said in a statement

Indian Oil Corporation said there is no nationwide shortage of petrol or diesel and described supply disruptions at some outlets as temporary and localised. The company attributed higher demand to harvesting season needs, migration from private pumps and increased institutional purchases

India’s Oil India Limited and Indian Oil Corporation Limited, with partners, discovered oil and gas in Libya’s Ghadames Basin, boosting India’s global energy footprint and supporting efforts to strengthen energy security and reduce crude import dependence

State-owned oil companies Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited are facing rising losses as petrol and diesel prices remain frozen despite high crude costs, increasing financial strain and raising concerns over possible future fuel price hikes

India’s oil marketing firms like Indian Oil Corporation will pay discounted prices to refineries to offset fuel price freeze losses, shifting the burden onto standalone refiners amid rising crude costs and widening under-recoveries across petrol, diesel and ATF

M R Lalit Babu secured a bronze medal at the Commonwealth Chess Championship in Kuala Lumpur with seven points from nine rounds. The Indian Oil Corporation manager bounced back strongly after his Chess World Cup exit earlier this month

JBS Vidyadhar, former India No.3 in singles and one of the premier doubles players of the 90s, is keen to embark on a journey of giving back something to the sport with all dedication and commitment, donning the role of a coach

State-owned IOC, BPCL and HPCL in separate statements said India has ample fuel stocks available and there is no need for panic buying

OMCs confirmed that they have enough LPG stocks at their bottling plants and that LPG distributors will operate as usual. They urged consumers not to panic.

The Mathura Indian Oil Corporation refinery blast comes two days after another serious fire mishap in IOC's Vadodara's plant which claimed two lives. Situaiton is now under control in Mathura, officials say

Officials say the blaze was brought under control after extensive efforts involving several fire tenders brought in from nearby cities and towns

The dealers have concerns over the financial strain caused by stagnant commissions despite rising fuel prices.

In a regulatory filing, the company said during Q1FY24, it had earned a total income of Rs 221,833.89 crore (against Q1FY23's Rs 252,616.54 crore) and a net profit of Rs 13,750.44 crore (net loss of Rs 1,992.53 crore).

The inclusion of the petrochemical-lube integration component comes as part of IOC's strategy to create a building block for future production of niche chemicals.

Revenue from operation jumped to Rs 1.63 lakh crore from Rs 1.39 lakh crore last year.