Indian Oil Corporation
OMCs' FY24 combined profit rises over 25-fold to Rs86,000 cr
11 May 2024
India’s state-owned oil marketing companies (OMCs) have reported a 25-fold increase in their combined profit, at Rs86,000 crore, for the financial year 2023-24
.jpg)
Indian Oil, Panasonic team up for lithium-ion cell production in India
02 Apr 2024
State-owned oil refining and marketing company Indian Oil Corporation Ltd (IOCL) will be setting up a joint venture with Panasonic Energy Co Ltd, a unit of Japan’s Panasonic Group, for manufacturing lithium-ion batteries and energy storage systems.
India pays in rupee for oil imported from UAE, for the first time
27 Dec 2023
India’s bid to trade in local currency, the rupee, seems to have finally found traction. The United Arab Emirates (UAE) has accepted payment for crude oil in rupee, for the first time.
.jpg)
Oil marketing companies to set up 7,432 EV charging stations
14 Dec 2023
The ministry of heavy industries has sanctioned Rs800 crore as capital subsidy to the three public sector oil marketing companies (OMCs) for setting up 7,432 electric vehicle charging stations under Phase II of the FAME scheme.
Metropolitan LPG cylinder prices surge by Rs 100 for 19-Kg commercial cylinders – stay updated on current rates
01 Nov 2023
Indian state-backed oil marketing companies, or OMCs, have increased the price of their 19-kg commercial liquefied petroleum gas (LPG) cylinders by about Rs 100.
Adani Group proposes Rs12,000-cr investments in TN
24 Jan 2019
Public sector Indian Oil Corporation Ltd also announced plans to invest Rs16,641 crore across various projects in the state, taking first-day investment proposal at the global investors summit to over Rs28,000 crore
Without curbs India's oil demand seen hitting 500 mtpa by 2040
25 Sep 2018
A spike in demand to 10 bpd a month could push up India’s oil import bill to about $27 billion (at current prices) a month and to about $34 billion a month at $100 per barrel
Saudi Aramco signs MoU for 50:50 mega refinery JV in Ratnagiri
11 Apr 2018
Saudi Aaramco along with a strategic partner and an Indian consortium comprising Indian Oil, Bharat Petroleum and Hindustan Petroleum will invest an estimated Rs3,00,000 crore to build the 1.2-million bpd Ratnagiri Refinery and Petrochemicals Ltd
IOC begins doorstep delivery of diesel
19 Mar 2018
ONGC to sell stake in IOC, GAIL, but only when price is right
23 Jan 2018
The oil explorer has got government approval to sell its stake in Indian Oil Corp and GAIL to help its Rs37,000 crore acquisition of Hindustan Petroleum Corp, though the immediate funds will come from short-term borrowing
First US oil shipment arrives at Paradip; comes cheaper than Dubai oil
03 Oct 2017
The first US crude oil cargo of 1.6 million barrels bought by Indian Oil Corporation from the US Gulf Coast refiners has arrived at Paradip Port in Odisha priced $2 per barrel cheaper than the Dubai crude that India often buys
Indian Oil leads 7 in Fortune 500 India list; Walmart tops
22 Jul 2017
Seven Indian companies led by Indian Oil have made it to the latest Fortune 500 list of the world’s biggest corporations in terms of revenue
Featured articles
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
What is a Ponzi scheme?
By Aniket Gupta | 06 Dec 2023
Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation
