Page 2 - Indian Oil Company

Indian Oil posts Q2 profit vs yr-ago loss on strong refining margins

The state-owned company posted a net profit of Rs 12,967 crore ($1.56 billion) for the quarter ended Sept 30

Govt constitutes three-member search committee to find new chairman of IOC

The panel will be headed by the government headhunter Public Enterprises Selection Board (PESB) chairperson and will include the oil secretary as a member, an official order said

Indian Oil, RIL tap Iraqi oil wells amid surging cost of Russian Urals

This reflects India's growing reliance on Russian grades while balancing them out with purchases from Iran suppliers

Indian Oil approves 2 joint ventures to set up compressed biogas plants

The two joint ventures will be formed with IOCL or one of its subsidiaries. In both cases, the two partners will have an equal stake of 50 per cent each

MotoGP Bharat ropes in oil major IndianOil as title sponsor for the event

The first batch of motorcycles started arriving at the Buddh International Circuit, Noida, on Thursday

Indian Oil plans to become '360-degree energy' company, to invest Rs 4 trn

India's top fuel retailer Indian Oil Corporation will invest over Rs 4 lakh crore in this decade to expand oil refining and petrochemical business as well as in energy transition projects as part of a plan to become a '360-degree energy company', its chairman Shrikant Madhav Vaidya said on Friday. IndianOil will invest Rs 1 lakh crore in expanding capacity to refine and turn crude oil into fuel and a staggering Rs 2.4 lakh crore in projects that will help it achieve net-zero carbon emissions from its operations. Another Rs 60,000 crore is planned to be invested in setting up a giant petrochemical complex at Paradip in Odisha. These investments will help the company continue to meet the rising energy needs of a fast-expanding economy while also treading on the path of the energy transition, he told company shareholders at the annual general meeting. Vaidya said the past year witnessed waves of volatility that rocked the global energy dynamics but IOC kept its promise of fuelling the

Indian Oil Q1FY24 results: Net profit at Rs 13,750 cr YoY; revenue down 12%

The revenue from operations for Q1FY24 came in at Rs 2.2 trillion, compared to Rs 2.5 trillion last year

Indian Oil to raise up to $2.7 billion through rights issue of shares

IOC, the country's top refiner, has not specified which projects the newly raised funds would target

Indian Oil, Praj enter JV to advance biofuels production capacity in India

Various biofuels covered under the memorandum of understanding (MoU) include sustainable aviation fuel (SAF), ethanol, compressed biogas (CBG), biodiesel, and bio-bitumen

OMCs log 52-week high on fund raising plan; HPCL, BPCL, IOC gain up to 4%

Fitch ratings have said that announcements of plans to raise equity capital by BPCL and IOC should strengthen their capex spending and the credibility of their emission-reduction plans.

Rosneft planning to build greenfield refinery in India with state refiners

Indian Oil Corporation and Bharat Petroleum are expected to be likely candidates for the JV

Indian Oil posts first profit increase in 5 quarters as crude prices cool

IOC's revenue from operations rose almost 10% to Rs 2.26 trillion

Centre to infuse equity in 3 OMCs after they announce capex plans: Report

OMCs, however, are concerned that equity infusion might impact their share price, market valuation and market perception

F&O Call: Nandish Shah recommends Bull Spread strategy on IOC

The derivative analyst from HDFC Securities recommends to Buy IOC 83 Call and simultaneously SEll 85 Call of the January expiry.

Indian Oil chairman will soon also be its managing director, say sources

Most big listed companies globally are run by a managing director or CEO and a chairman presiding over the board of directors with the primary responsibility of protecting the interests of investors. But, India's largest oil company Indian Oil Corporation (IOC) is an exception for never having a managing director or CEO in its 63 years of existence. IOC, the nation's largest oil refiner and retailer of fuels like petrol and diesel, has always been headed by a chairman, who has also discharged the role of a managing director or CEO. But this is likely to change soon with the Oil Ministry agreeing to redesignate the top job as chairman and managing director, sources aware of the matter said. The company has long been demanding for such a change to bring it on par with other large public sector and private firms. That demand has now been agreed to by the firm's parent administrative ministry and is now awaiting concurrence of the Ministry of Corporate Affairs (MCA), they added. IOC ..

BPCL's former Chairman Arun Kumar Singh to be the next head of ONGC

Oil refining and marketing company BPCL's former chairman Arun Kumar Singh is likely to be the new chairman of India's top oil and gas producer ONGC -- the first instance of a top PSU board-level position going to a person aged over 60. A search-cum-selection committee, constituted by the oil ministry, zeroed in on Singh after interviewing six candidates on August 27, two sources aware of the matter said. Singh retired after attaining the superannuation age last month and was already selected to head the Petroleum and Natural Gas Regulatory Board (PNGRB) before the August 27 interviews. If his selection is approved, Singh will get three years as head of the cash-rich PSU (Public Sector Unit). Oil and Natural Gas Corporation (ONGC) is without a regular chairman and managing director since April 2021 and the senior most director on the board has been entrusted with the additional charge. Since then, the firm has seen a record three interim heads. Sources said Singh became eligible f

Emergency bid: GAIL inks agreement with ADNOC to secure LNG supply

Officials said the agreement represents a reworking of India's gas sourcing strategy as the country aims to aggressively source LNG from a wider list of nations

Consortium of Indian oil companies to acquire 10% stake in UAE's ADNOC

The consortium is led by ONGC Videsh Ltd (OVL) and includes companies like Indian Oil Corporation Ltd (IOCL), Bharat PetroResources Ltd (BPRL) and Oil India Ltd (OIL)

IOCL signs pacts with Petrobras, Ecopetrol for crude oil supplies: Report

IOCL's pact with Petrobras was signed during petroleum secretary Pankaj Jain's visit to Brazil last week. Petrobras will supply 1.7 million tonnes per annum to IOCL

Stocks to Watch: HDFC Life, TCS, Zee Entertainment, OMCs, Coal India

Stocks to Watch: Abrdn, formerly Standard Life, is looking to sell 2 per cent of its stake in private sector insurer HDFC Life via block trades on Tuesday