Indian Oil Company

Ahead of the festival season, oil marketing companies announced a Rs 48.50 hike in 19 kg commercial LPG cylinder prices, effective October 1. The cost of 14 kg domestic LPG cylinders remains unchanged

S M Vaidya on Saturday stepped down as chairman of Indian Oil Corporation (IOC) at the conclusion of his tenure. "A chemical engineer with over 37 years of experience, Vaidya has been a pivotal force in steering IndianOil to unprecedented heights," the company said in a statement. Since taking over the reins in July 2020, Vaidya led IOC through a period of extraordinary growth. Under his leadership, the company's net profit surged from Rs 1,313 crore in FY20 to an all-time high of Rs 39,619 crore in FY24. Revenue from operations also saw a significant growth, rising by 53 per cent from Rs 5,66,354 crore to Rs 8,66,345 crore during the same period. Additionally, IOC's market capitalisation tripled, reaching its highest levels ever in February 2024. His tenure was marked by his commitment to innovation, sustainability, and operational excellence. He championed the development of specialised fuels such as 'STORM' & 'STORM-X', the ultimate racing fuels; India's first 100-octane fuel,

According to HPCL, India's ambitious goal of expanding road connectivity, manufacturing, and construction activities is expected to support economic growth and further drive oil consumption in India.

The company aims to establish a 5 GWh lithium-ion battery production capacity by 2031 as part of its strategy to diversify its energy portfolio

Oil & Gas stocks outlook: Indraprastha Gas and Mahanagar Gas are awaiting a breakout from a narrow trading band, show technical charts.

State-owned Indian Oil Corporation (IOC) on Wednesday said it has entered into a joint venture with biofuels company GPS Renewables Pvt Ltd to foster sustainable energy solutions in India. "This association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country," the firm said in a statement. The agreement was signed by Mainak Chakraborty, CEO & co-founder of GPS Renewables and Santanu Gupta, ED (Alternative Energy) at IOC. "The joint venture will focus on integrating advanced biogas technologies to convert organic waste into compressed biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels," it said. By leveraging their combined expertise, IOC and GPS Renewables aim to accelerate the deployment of Compressed Bio Gas (CBG) plants nationwide. These initiatives complement IOC's long-term .

State-owned oil and gas giants including IndianOil, ONGC and GAIL (India) Ltd have been slapped with fines for the fourth straight quarter for failing to meet listing requirements of having the requisite number of directors on their board. Stock exchanges imposed a cumulative fine of Rs 34 lakh on oil refining and fuel marketing giants Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), explorers Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL), gas utility GAIL, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) for not meeting the listing requirement in the January-March quarter, stock exchange filings showed. In separate filings, the companies detailed the fines imposed by the BSE and NSE for either not having the requisite number of independent directors or the mandated women director in the quarter ended March 31, 2024 (fourth quarter of 2023-24 fiscal year), but were quick to point out tha

According to reports, Egypt has revived stalled negotiations between the Israel-Hamas for a ceasefire agreement, thereby pushing crude oil prices lower.

Annual net profit up 268% to Rs 43,161 crore, helped by Russian discounts

Manufacturing unicorn Zetwerk on Thursday said it has bagged the largest order from India Oil Corporation to set up over 1,400 fast chargers for electric vehicles across the country. Indian Oil has floated a tender for 6,000 chargers, in which 40 EV suppliers across the country participated. "Zetwerk has secured an order with Indian Oil Corporation Limited (IOCL) to set up EV fast chargers across India through competitive bidding which was participated by more than 40 leading EV suppliers across the country," the company said in a statement. Zetwerk said that it has bagged the largest order from the public sector oil marketing company. "These charging stations will be deployed as per requirement across IOC outlets, providing a seamless charging experience. By conveniently locating these stations in major cities, we will enable the widespread adoption of EV mobility and drive the nation towards a sustainable future," Zetwerk Business Head - Renewables Abhay Adya said. Under the ...

Private and state-run processors including the biggest - Indian Oil Corp. - have stopped taking cargoes if they're on Sovcomflot tankers

In past three days, shares of OMCs have declined between 8 - 12 per cent on concerns that recent petrol and diesel price cut could hurt the companies' profit margins in the near-term.

With this, the entire Mangaluru Strategic Petroleum Reserve (SPR), which includes two caverns of 0.75 million tonnes capacity each, will be leased out

IOC is likely to trade on a bullish note as long as the stock sustains above Rs 165, suggests the daily chart.

LPG cylinder transporters of Indian Oil Corporation on Wednesday went on an indefinite strike for the second time in less than two months, alleging pending dues and low rates in recently floated tenders. An IOC official, however, termed the strike as illegal. The decision to go for the shutdown was taken after a meeting called by the Food, Public Distribution & Consumer Affairs Department of Assam between IOC and the North East Packed LPG Transporter Association (NEPLTA) failed to yield any solution to the prolonged stalemate. "The government called us yesterday to talk about our demands. We reiterated our old issues, mostly related to pending dues and low rates in the tenders. However, the IOC was reluctant to talk about those," NEPLTA chief adviser Kumud Nath told PTI. The association had also written to the chief secretary on January 5, raising the same issues and urged him to take necessary steps, he said. "The government had called yesterday's meeting, accordingly, to find ..

The government has halved the amount of equity infusion in state-owned fuel retailers to Rs 15,000 crore for supporting their investments in energy transition projects, the finance ministry has said. Finance Minister Nirmala Sitharaman had on February 1 last year while presenting the annual Budget for 2023-24 fiscal (April 2023 to March 2024) announced equity infusion of Rs 30,000 crore in Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) to support the three state-owned firms' energy transition plans. Alongside, she had also proposed Rs 5,000 crore for buying crude oil to fill strategic underground storages at Mangalore in Karnataka and Visakhapatnam in Andhra Pradesh that India has built to guard against any supply disruptions. That plan has also been deferred in view of emerging trends in oil markets, the finance ministry said. While other state-owned oil companies such as Oil and Natural Gas Corporation (ONGC) an

Stocks to watch on Thursday, January 25, 2024: Among companies announcing Q3 results yesterday, Tata Steel reported a turnaround while IOC and Ceat postged a 10-fold and 5-fold jump in net profit.

The profit in the year-ago quarter was significantly impacted due to under-recoveries arising from higher input costs in the form of crude oil prices

India, the world's third-biggest oil importer and consumer, is keen to cut its carbon footprint to meet its 2070 net-zero carbon goal

Drop in crude oil prices and a bumper profit in Q2 has fuelled the rally so far in oil marketing companies.