"indian-oil-corporation"

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.

IOC and three other refiners have sought just 65 per cent of the monthly average of about 15 million barrels from Saudi Arabia in May, three sources with knowledge of the matter said

Govt has told IOC, BPCL and HPCL to look for oil supplies from outside the Middle East region and use collective bargaining power to get favourable terms

JV entity IOC Phinergy to set up GW scale aluminum-air system manufacturing facility

Sources said IOC had proposed monetising some of its hydrogen producing units in lieu of its product pipelines which the government wants the company to monetise.

Petroleum had been included in the strategic sector as it ensures energy security for the country.

Finance Minister Nirmala Sitharaman in her Budget for fiscal year beginning April 1, announced monetisation of oil and gas pipeline assets of IOC, gas utility GAIL (India) Ltd and Hindustan Petroleum Corporation Ltd (HPCL).

Even with multiple suitors, the interest level for BPCL remains low in current subdued market conditions

PNGRB issued an order granting more time to 41 city gas entities to complete their rollout commitment

IOC reported a standalone net profit of Rs 6,227.31 crore, or Rs 6.78 per share, in the July-September quarter, as compared to Rs 563.42 crore net profit in the same period a year back