Page 4 - Indian Oil Corporation

Indian Oil raises Rs 2,500 cr in debt at interest lower than sovereign

Indian Oil Corporation (IOC), the nation's top oil firm, raised Rs 2,500 crore in debt through non-convertible debentures (NCD) at an interest rate lower than government bonds, its director (finance) Sandeep Gupta said on Friday. "Today, Indian Oil fetched a competitive price of a 5-year unsecured NCD issue at an annual fixed coupon of 7.14 per cent," he told PTI. This coupon rate is lower than the prevailing annualised yield of benchmark G-Sec for similar maturity. The prevailing annualised yield of 5-year G-Sc is at 7.16 per cent. The NCDs, which will be used for general corporate purposes, including capital expenditure, were rated AAA by Crisil and Icra. "Pricing of the NCS was undertaken over online bidding platform of NSE Ltd with a base size of Rs 1,000 crore and greenshoe of Rs 1,500 crore, aggregating to Rs 2,500 crore," he said. The issue got an overwhelming response and was oversubscribed by more than 8 times of the base issue size by investors, encompassing retirement

New pricing model aiming to prune jet fuel cost by 15% likely in two months

OMCs to shift to single uniform system instead of the prevailing dual pricing mechanism for domestic and overseas airlines

Green hydrogen: India Inc's next big thing even as policies take shape

Undeterred by the absence of policy or supply chain, conglomerates, and RE companies are investing heavily in this new fuel.

IOC to spend Rs 2 trn for net-zero target by 2046: Chairman

Indian Oil Corporation (IOC), the nation's top oil firm, will invest Rs 2 lakh crore to achieve net-zero operational carbon emissions by 2046, its chairman Shrikant Madhav Vaidhya said on Thursday. The target set is in line with India's aim to reach net-zero emissions by 2070. IOC, which refines crude oil into fuel and manufactures petrochemicals, will use a combination of energy efficiency measures, electrification of processes and fuel replacement. "The company is embarking on a decarbonisation journey that will be crucial not only for the company's destiny but also for the planet," Vaidya said. "On the 99th year of India's independence (2046), IndianOil will be operationally independent of emissions." The investment of over Rs 2 lakh crore will help mitigate emissions to about 0.7 billion metric tonnes of carbon dioxide a year by then. Currently, IOC's greenhouse gas (GHG) emission, emanating majorly from the company's refining operations, is 21.5 million tonnes of carbon dioxi

Ethanol plants to generate green jobs, raise farmer income: PM Modi

India's ethanol blending in petrol has increased to 10.16 per cent in 2022

India's plan to produce ethanol from 2G sources taking time to pick up

Rs 900-crore plant set up by Indian Oil Corporation (IOC) in Panipat to start on Wednesday

IOC, HPCL, BPCL post Rs 18k-cr combined loss in Q1 on holding fuel prices

According to stock exchange filings by the three fuel retailers, the losses were due to erosion in the marketing margin on petrol, diesel and domestic LPG

Indian Oil targets green hydrogen meeting 10% of requirements by 2030

Indian Oil Corporation (IOC) is targeting to replace at least a tenth of its current fossil-fuel-based hydrogen at its refineries with carbon-free green hydrogen as part of a decarbonization drive

Jindal Power exits race to buy JBF Petro; RIL, others in contention

L N Mittal-backed HPCL-Mittal Energy and govt-owned companies remain in contention for the bankrupt firm

More oil middlemen muscle in to supply India with cheap Russian crude

Companies include Wellbred and Montfort have been marketing Russian oil to Indian buyers, joining the likes of Coral Energy and Everest Energy

Stocks to watch: HDFC, Sun Pharma, Dr Reddy's, STFC, TVS Motor, SpiceJet

Stocks to watch today: HDFC, Sun Pharma, and Cipla will report their June quarter results on Friday, July 29; Dr Reddy's saw 108 per cent YoY rise in consolidated net profit to Rs 1,187.6 crore in Q1.

Vedanta to pay out Rs 7,250 cr on second interim dividend at Rs 19.5/share

So far, the company's dividend payout in FY23 stands at Rs 18,960 crore, ahead of FY22 total dividend of Rs 16,740 crore

India's bet on gas-based economy runs into Ukraine war challenges

As the Ukraine-Russia conflict pushes up prices and Europe outbids South Asia for scarce supplies, billions of dollars in domestic gas infrastructure investment are at risk

IOC enters niche segment with Bikers Cafe to meet needs of expedition rides

Officials said the first such offering has been started near Shimla and more such facilities will be set up along the Chandigarh-Manali route as well as the Chandigarh-Kaza sector

ATF crisis in Sri Lanka turns opportunity for South India airports

Several flights of Sri Lankan Airlines, Air Arabia, Jazeera Airways, Gulf Air and Air AirAsia Malaysia are depending on Indian airports starting from May onwards, giving additional revenue to OMCs

Credit lines exhausted, India asks Sri Lanka to pay for fuel in advance

Sri Lanka, which has depleted its foreign exchange reserves, was hoping for a fresh approval from India of a $500 million credit line for fuel purchases

IOC delivers cooking gas by boats in Assam amid devastating floods

In flood-hit Assam, LPG delivery vans of PSU major Indian Oil Corporation (IOC) have been replaced by boats for the seamless supply of the fuel to keep the burner flames on

Sandeep Kumar Gupta to be next chairman of GAIL, succeeds Manoj Jain

The Public Enterprises Selection Board (PESB) selected Gupta, 56, for the post of chairman and managing director of GAIL after interviewing 10 candidates, it said in a post-interview notice

Private players seek govt intervention as fuel shortage rises in India

FIPI says companies are suffering a loss of Rs 20-25 a litre on diesel and Rs 14-18 a litre on petrol at present due to the non-revision of prices

Indian Oil Corporation plans to transport fuel to Tripura via Bangladesh

PSU major Indian Oil Corporation (IOC) on Sunday said it is looking to transport fuel to Tripura through Bangladesh as the rail network has been totally snapped due to massive landslides in Assam