Page 3 - Indian Oil Corporation

Two IOCL officials arrested for graft remanded to CBI custody

A hunt has been launched for absconding accused N P Rodge, the general manager (retail sales)

Street realigning to the new scenario for oil marketing companies

Many more price hikes though required to return to positive margins; moderate valuations offer some comfort

Sri Lanka's currency will stabilise soon, assures country's central bank

Sri Lanka relaxed controls on currency earlier this week considering the severity of the external shocks and recent developments in the domestic front, reported Xinhua

Indian Oil no longer accepts Russian crude oil on free-on-board basis

The letter was sent on Monday to traders who submit cargo offers into IOC's regular crude oil buy tenders

IOC no longer accepts Russian, Kazakh crude on FOB basis: Report

Indian Oil Corp will no longer accept cargoes of Russian crude oil and Kazakh CPC Blend cargoes on a free-on-board basis due to insurance risk

IOC to be dropped from Nifty 50 from Mar 31; Apollo Hospitals to move in

Apollo Hospitals Enterprise Ltd will replace Indian Oil Corporation Ltd from National Stock Exchange's benchmark index Nifty 50 from March 31. The Index Maintenance Sub-Committee Equity (IMSC) of NSE Indices Limited has decided to make it a part of its periodic review, according to a press release on Thursday. Apart from Nifty 50, changes have been announced in several indices including Nifty Next 50. One 97 Communication, owner of Paytm; FSN E-Commerce Ventures, which runs online marketplace Nykaa, Zomato Ltd, Indian Oil Corporation Ltd, MindTree Ltd and SRF Ltd will find a place in Nifty Next 50. Apollo Hospitals Enterprise, Aurobindo Pharma, Hindustan Petroleum Corporation Ltd, Indraprastha Gas Ltd, Jindal Steel & Power Ltd and Yes Bank will be excluded from Nifty Next 50. These change will become effective from March 31 (close of March 30). Besides, NSE Indices has revised the eligibility criteria for inclusion of stocks in Nifty equity indices. The minimum listing history .

Indian Oil Corp buys first Russian Urals crude in 2 years as prices slump

Urals crude was last imported by IOC at its Paradip port in April 2020, Refinitiv's trade flows data showed

Dabur to reach its wares to 140 mn Indane users via IndianOil delivery team

Move will help Dabur leverage IndianOil's reach via booklets given to consumers through OMC's delivery team. An app will also help customers order directly, and get the products delivered by this team

IOC raises Rs 1,500 cr via bonds at interest rate lower than sovereign

IOC priced its five-year rupee bonds at a coupon rate of 6.14 per cent tighter than a similar maturing government bond that is trading at an annualised yield of 6.29 per cent

Indian Oil installs more than 1,000 electric vehicle charging stations

IndianOil is gearing up to provide EV charging facilities at 10,000 fuel stations in the next three years, said Director, Marketing V. Satish Kumar

IOC gets Rs 2,281 crore as Air India clears 80% of jet fuel dues

State-owned fuel company lists recovery from carrier and increasing air traffic as positives for its business.

Indian Oil Corporation, Adani Total Gas top bidders for city gas licenses

Adani group had originally ventured into city gas business in a joint venture with IOC but it later tied up with Total. Adani and IOC did not put any combined bid in the latest bidding round

IOC to invest Rs 9,028 crore for setting up a new crude oil pipeline

IOCL operates a network of more than 15,000-km long crude oil, petroleum product and gas pipelines

High-level IOC delegation, Bengal forensics team probe Haldia Refinery fire

The state government demanded that a compensation package for the dead and injured workers be announced, to which the IOC said that it is being prepared and will be made public soon

Top headlines: Delhi bans gatherings; I-T raids at Chinese mobile firms

Business Standard brings you the top headlines on Wednesday

Oil PSUs to set up 22,000 EV charging stations in the next 3-5 years

IOC, the country's largest state-controlled refiner by capacity, will set up EV charging facilities at 10,000 fuel outlets over the next three years, Chairman Shrikant Madhav Vaidya said

IOC expects 100% refinery run within a quarter as fuel demand returns

Indian Oil Corp (IOC), the nation's largest oil firm, expects refinery run to reach 100 per cent within a quarter as fuel demand returns, its chairman SM Vaidya said. Speaking at India Energy Forum by CERAWeek, he said petrol and cooking gas LPG demand is already above pe-COVID levels and diesel - the most consumed fuel in the country - is inching back to normalcy. "Energy demand is rebounding in India with the revival of economic activity" after a devastating pandemic, he said. India's energy demand had halved after a nationwide lockdown was imposed in late March last year. But with gradual easing of restrictions, economic activity has rebounded. Vaidya said the robust energy demand in India is only set to grow in the future. "LPG and petrol have already exceeded pre COVID levels, and we expect refinery capacity to reach 100 per cent by the next quarter," he said. IOC's refineries operated at 82 per cent of capacity in September and are above 90 per cent this month. He said IOC

Indian Oil in talks with state transport undertakings for hydrogen projects

The units in UP and Gujarat will be close to the refineries. Plan is to run 10-20 buses in both states initially; Kerala to have a standalone green hydrogen unit

IOC, CPCL start working on Rs 31,580-cr refinery project at Nagapattinam

While both the companies will hold 25 per cent each in the proposed 9 million tonne per annum (MTPA) refinery, the remaining 50 per cent will be held by a strategic or financial partner

India may need additional 2 mn bpd refining capacity by 2030: IOC chair

India, the world's third-biggest oil importer and consumer, currently has 5 million barrels per day of refining capacity. IOC controls about a third of that.