Page 4 - Indian Oil Corporation

From IOC to Reliance: India's ambitious hydrogen push gains currency

Hydrogen is the latest buzz for meeting the world's energy needs. Being the cleanest form of energy, it can be produced from a variety of resources, such as natural gas, biomass

IOC may sell some of its petrol pumps to JV with Malaysia's Petronas

IOC may sell some of its over 32,300 petrol pumps to a joint venture with Malaysia's Petronas with a view to monetising vast fuel marketing network, its Director (Finance)

IOC to invest Rs 24,000 cr in Gujarat refinery expansion, petchem project

State-owned Indian Oil Corporation (IOC) on Monday said it has signed up an investment pact for adding petrochemical and lube plants to its previously announced plan to expand crude oil processing capacity at its Koyali refinery at Vadodara in Gujarat. Expanding refining capacity by 4.3 million tonnes per annum to 18 million tonnes and adding plants to produce 500,000 tonnes per annum of polypropylene and 2,35,000 tonnes of lube oil base stock at the site would see total investment of about Rs 24,000 crore. "Chief Minister of Gujarat Vijaybhai Rupani and Union Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan today presided over an MOU signing ceremony for 'Investment Promotion' between the Government of Gujarat and IndianOil for setting up a Petrochemical and Lube Integration (LuPech) Project and Acrylics / Oxo Alcohol Project along with other infrastructure projects at Gujarat Refinery," a company statement said. The LuPech project will produce import substitutes .

Indian Oil swings into black with record Rs 21,000-cr profit in FY21

Firm attributes remarkable to inventory gains caused by fluctuating global oil prices and rising sales of high-margin petrochemical products

O2C, Indian Oil Corp bag supplies in intense bidding for KG-D6 gas

RIL and its partner BP of the UK had offered 5.5 million standard cubic meters per day of additional gas in the auction for a flexible tenure of 3-5 years

IOC to buy Guyanese crude as India doubles up on cutting Opec dependence

According to oil ministry officials, this deal is at competitive rates and is in line with the strategy to have multiple sources of crude oil for Indian refiners

BHEL receives order worth Rs 400 crore from Indian Oil Corporation

State-run engineering firm BHEL has bagged an order worth Rs 400 crore for setting up a sulphur recovery unit at Indian Oil's Paradip Refinery in Odisha. "Against stiff international competitive bidding (ICB), Bharat Heavy Electricals Limited (BHEL) has bagged a major order for a sulphur recovery unit from IOCL (Indian Oil Corporation Ltd)", a BHEL statement said. With this order, BHEL has made an entry into the downstream oil & gas process package business. According to statement, the package, valued at over Rs 400 crore, envisages setting up a 525 TPD (tonne per day) sulphur recovery unit at IOCL's Paradip Refinery in Odisha. Notably, the company's diversification strategy into non-coal based business areas has begun paying dividends and this is a milestone order for BHEL as part of its new growth areas initiative. With the execution of this order, BHEL will establish itself as an LSTK (lump sum turn key) player for process packages in the downstream oil & gas sector. BHEL's

Indian Oil Corporation enters into joint venture with Israeli firm Phinergy

Indian Oil Corporation (IOC) entered into a collaboration with Phinergy, an Israeli start-up company specialising in hybrid lithium-ion and aluminium-air, to form IOC Phinergy Private Limited

IOC, Israeli firm form JV to to manufacture metal-air batteries for EVs

Indian Oil Corporation and Israeli battery developer Phinergy on Wednesday formalised a joint venture to manufacture ultra-lightweight metal-air batteries for electric vehicles (EVs)

Stocks to watch: Affle India, BEML, RIL, auto stocks, RailTel, IOC, Vedanta

Vedanta Resources has raised $1.2 billion in a bond offering that saw strong investor interest

IOC to invest Rs 32,496 cr to expand Panipat refinery capacity

The firm said it will invest to expand its oil refinery at Panipat in Haryana to 25 million tonnes per annum capacity

Indian mission in Sri Lanka denies Trincomalee oil tanks deal off

The Indian High Commission here has rejected Sri Lankan energy minister's claim that the deal between the two countries on Trincomalee oil tanks leased to the Indian Oil Corporation has been scrapped.

Sri Lanka to re-acquire 99 oil tanks leased to Indian Oil Corp: Minister

Sri Lanka will re-acquire 99 World War II-era oil storage tanks leased to Indian Oil Corporation in the eastern port district of Trincomalee

Indian Oil consolidated net profit jumps 52% to Rs 4,102.37 crore in Q3

Board declares interim dividend of Rs 7.50 per share

Boost for pilot training schools as IOC to produce aviation gasoline

Prices of Avgas, which is completely imported, are over twice those of ATF; Currently there are 32 flying schools and govt wants more such to come up within the country

Indian Oil Corporation profit doubles in Q3 on inventory gains

Rising oil prices yielded inventory gains and a rise in petrochemical margins

Praj Industries bags Rs 226 crore order from Indian Oil Corporation

Industrial biotechnology company Praj Industries on Friday said it has bagged a Rs 226.90 crore order from Indian Oil Corporation Ltd

PSU presence in Rs 1-trillion club shrinks in 2020; index declines 18%

The companies that exited the trillion club are IOCL, NTPC, BPCL, and Coal India

Indian Oil Corp to buy 15 buses for Delhi that run on hydrogen fuel

To give a fillip to India's push to usher in a hydrogen-based mobility solutions ecosystem, Indian Oil Corporation (IOC) plans to buy 15 buses that can run on hydrogen fuel. The country's largest oil refiner and fuel retailer is also setting up a facility at its Faridabad research and development (R&D) centre to produce hydrogento run the buses, the company said in a statement. Like all electric vehicles, fuel cell electric vehicles use electricity to power an electric motor. In contrast to other electric vehicles, these vehicles produce electricity using a fuel cell powered by hydrogen, rather than drawing electricity from only a battery. Fewer pollutants and less noise are among the advantages of electrically powered vehicles. IOC said ithas invited "bids to procure 15 polymer electrolyte membrane (PEM) fuel cell buses". This project is the first-ever attempt in the country to address all the aspects of hydrogen-based mobility as the ultimate green option. IOC Chairman S M ...

On the road to recovery: Marquee companies raise advance tax payment

Larsen & Toubro (L&T), state-owned heavyweight Indian Oil Corporation (IOC), IT major Infosys, Tech Mahindra, and private banks ICICI Bank and Kotak Mahindra Bank led the table