Page 5 - Indian Oil Corp

F&O expiry: Mkts end flat after a choppy session; Nifty settles at 10,289

All that happened in the markets today

India mulls doubling oil refining capacity to 450-500 mt by 2030: Pradhan

India plans to almost double its oil refining capacity to 450-500 million tonnes in the next 10 years to meet the rising domestic fuel demand as well as cater to export market, Oil Minister Dharmendra Pradhan said on Tuesday. Speaking at a webinar on 'Atmanirbhar Bharat: Fostering Domestic Steel Usage in Oil & Gas Sector', he said construction of a new 60 million tonnes a year west coast refinery, which is crucial to the capacity doubling plan, will start soon. "Our refining capacity will increase from about 250 million tonnes per annum now to 450-500 million tonnes in next 10 years," he said. The capacity addition will be both brownfield (expansion of existing units) and greenfield (new refineries), he said. The refining capacity of 249.9 million tonnes exceeded the fuel demand of 213.7 million tonnes in 2019-20, but the demand is likely to rise to 335 million tonnes by 2030 and 472 million tonnes by 2040. International Energy Agency (IEA) forecast that India's fuel demand will .

OMCs: Demand recovery, inventory gains, marketing margins to drive earnings

Over the last three-four days, OMCs have increased the per litre price of gasoline and diesel by a total of Rs 2.14 and Rs 2.23, respectively

IOC aims to operate refineries at 90% capacity in June as demand recovers

Refiners in Asia are cranking up runs as the lifting of lockdown restrictions is pushing up fuel demand. India's fuel consumption in May increased significantly from April

Covid-19 crisis: Unlock 1.0 to revive fuel sales soon, says Indian Oil

Fuel sales had dropped in April after Prime Minister Narendra Modi announced a nationwide lockdown to control the spread of Covid-19 infections

India saves Rs 5000 cr in forex after capitalising on global low oil prices

State-owned oil firms were in April asked to buy import oil when global rates fell to a two-decade low.

Govt is looking at starting home delivery of petrol, CNG: Pradhan

Indian Oil Corp (IOC), the nation's largest fuel retailer, started home delivery of diesel through a mobile dispenser in 2018. This service is available only in a handful of cities.

April refinery output down 29%, natural gas falls 19% as consumption tapers

Industry experts say consumption of petroleum products in April was only 30-40% of what it had been prior to lockdown

Covid-19 lockdown: Petrol sales fell by 61% in April, diesel by 57%

ATF sales declined by about 92% during the month, showed provisional industry data

Indian Oil becomes first firm to begin supply of BS-VI fuel in country

This comes at a time when the nation battling outbreak of coronavirus imposed restrictions and states declared part lockdowns

IOC declares Rs 4.25/share interim dividend, govt to get Rs 2,060 cr

The company's board fixed March 25 as the 'record date' for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend at the aforesaid meeting.

IOCL's Mathura refinery starts producing 100% BS-VI fuel ahead of deadline

IOCL Mathura Refinery has achieved the distinction of becoming first refinery in the country to supply BS-VI compliant fuels, containing less than 10 ppm sulphur with existing units.

Indian Oil Corp, Israel's Phinergy sign JV to produce metal-air batteries

The IOC and Phinergy will set up a join venture in India to manufacture Al-Air batteries and to facilitate development of supporting infrastructure.

IOC plans $1.94 bn investment to raise Bihar refinery capacity by 50%

Refined fuel consumption - a proxy for oil demand - in the December quarter rose 2.6 per cent from a year earlier

IOC Q3 net triples to Rs 2,695 cr as inventory gains offset lower margins

IOC had a forex loss of Rs 182 crore as compared to Rs 2,804 crore foreign exchange gain a year back

BPCL likely to sell stake in Numaligarh Refinery through bidding

While OIL holds 26 per cent in NRL, BPCL and the Assam government have 61.65 per cent and 12.35 per cent equity, respectively

Four firms to list commercial papers on BSE for issue size of Rs 4,075 cr

The effective date for listing of the commercial paper at the exchange is December 17, the exchange said in a media release

Retail, telecom help RIL beat Indian Oil to be number one player by revenue

Fortune India list shows RIL as India's top firm in FY19

UP govt to set up biofuel plants to address issue of stubble burning

Will set up 1-2 biofuel plants in all 75 districts of Uttar Pradesh

IOC sees diesel demand rising in 6 months as longer-than-usual monsoon ends

India's fuel demand fell to its lowest in more than two years in September, with consumption of diesel at its weakest since January 2017