Page 9 - Indian Oil Corporation

'Fuel at Doorstep' initiative takes baby steps in first month of operations

To begin with, 'fuel at doorstep' will continue to remain a distant dream for the retail user, as that is not an option under consideration

Indian Oil board approves Rs 42 bn ethylene glycol project in Paradip

IOC would use by-products generated from refining crude oil at its 15 million tonnes a year refinery at Paradip to manufacture Ethylene Glycol

Indian Oil considers investing $3.5 bn from April to expand capacity

The company plans to use internal resources for the capital expenditure and has no plans to raise loans or issue bonds

IOC to commission Rs 27-bn pipeline to move products from Paradip refinery

The products to be evacuated are motor spirits, high-speed diesel, kerosene and aviation turbine fuel

Indian shippers want IOC to ease tanker hire condition

The refiners have a new clause that the vessel's age should be not more than 10 years on the date of delivery

Odisha sore with IOC over timeline revisions for petrochem units

The Odisha government has voiced its displeasure with the Indian Oil Corporation Ltd (IOCL) for delaying the timeline for commissioning of different projects proposed for the petrochemical complex at Paradip.The delay in commissioning of the planned units of the petrochemical complex by IOCL could have a bearing on the PCPIR (Petroleum, Chemicals & Petrochemicals Investment Region) hub in Odisha. The PCPIR is proposed over an area of 284 sq km straddling the coastal districts of Jagatsinghpur and Kendrapara. IOCL is the anchor tenant of the PCPIR hub and the commissioning of the petrochemical units holds the key to attracting investors. With a processing area of 123 sq km, the PCPIR is projected to draw investments worth Rs 2.74 lakh crore."The latest revisions proposed by IOCL for completing different units of the petrochemical complex could put at stake investments for the PCPIR hub. We have asked Idco (Odisha Industrial Infrastructure Development Corporation) to renegotiate the

Indian Oil's Rs 273-cr KSPL augmentation project gets green nod: Official

"Based on the recommendation of an expert panel, the environment ministry has given environment clearance for the IOC's proposal on KSPL," the official said.

Indian Oil aims 13.5 mn tonnes of LNG import capacity in 5 years

The company is also looking at signing a long-term LNG supply deal

IOC profit rises 18% to Rs 3,696 cr in Q2; GRM at $6.08

The company's net profit in September quarter last year was Rs 3,122 crore

IOC board gives approval to set up Rs 27k cr refinery by subsidiary CPCL

The expansion was subject to the approval of board of IOC, the holding company of CPCL

IOC faces land hurdle to expand Paradip refinery

Getting more than 2,000 acres of land around the refinery site will be a challenge: Odisha govt

Indian Oil Corporation gets nod for laying pipeline in Odisha

Odisha pollution control board has accorded its consent to Indian Oil Corporation Ltd for laying of underground cross country pipeline of 1150 kilometer length from the latter's Pardip refinery to Hyderabad.The consent is given for the 330 kilometer length of the pipeline passing through Odisha. The pipeline will be used for transportation of petroleum products like high speed diesel, motor spirit, superior kerosene oil, aviation turbine fuel of 4.5 million tonne per annum. The cost of the project to lay the stretch of the pipeline in the state is pegged at Rs 983 crore." The proponent shall obtain consent to establish from Andhra Pradesh and Telengana pollution control board for laying rest of pipe line segment in Andhra Pradesh and Telengana", the pollution control watchdog said.The approval for the project is valid for five years. With the approval, the project proponent has to commence construction of the project within five years." If the proponent fails to do substantial ...

IOC board approves Rs 15,034 cr to expand Gujarat refinery by 2022

State-owned Indian Oil Corp (IOC) today said its board has approved Rs 15,034 crore investment to expand its Gujarat refinery by 2022. Expansion of capacity of refinery at Vadodara from existing 13.7 million tons to 18 million tons would "help meet the growing demand for products in the region," the company said in a statement. The project involves replacing some of decades-old units that being old in design and small in capacity were no longer energy-efficient. IOC Chairman Sanjiv Singh said the new refinery configuration proposed will take into account the likely disruptions in the fuel supply-demand scenario in the future and will have built-in flexibility in its operations for strong integration with downstream petrochemical units. "Gujarat Refinery, which went on stream in October 1965 as a one million tons per annum unit, heralded India's capabilities to build refineries on its own. In the same vein, we are now proposing to incorporate IOC's own R&D technologies for .

IOC aims to source a tenth of oil needs from own assets

India imports about 80% of its oil requirements as its local production hasn't increased for decades

Indian Oil successfully rolls out daily revision of petrol, diesel prices

Indian Oil is regularly conducting awareness sessions with dealers on daily price revision

Sanjiv Singh appointed as new chairman of Indian Oil Corporation

Singh replaces B Ashok, who superannuated from the services of the company on May 31

IOC, Oil India, BPCL in talks to buy 49% stake in Russia's Vankor field

ONGC Videsh Ltd, which is also among the interested firms, may get a 26% stake in the 3 oilfields

IOC overtakes ONGC to become India's most profitable PSU

Reliance Industries continued as the most profitable firm, posting a net Rs 29,901 cr in the fiscal

IOC to invest around Rs 20,000 in 2017-18; plans expansion, acquisitions

Continuing its capex plan, Indian Oil Corporation said that it will invest around Rs 20,000 crore in 2017-18. Plans to expand overseas and looking for acquisition.B Ashok, chairman, IOC said that the company always believed that we have to be ahead of the demand. Supply position has to be ahead of demand for which additional refineries, expanding capacities, building pipelines etc have been aggressive. Last year also, IOC has invested close to Rs 20,000 crore, including around Rs 16,000 crore in various projects in India and on acquisition for upstream in Russia. "During the current year also we expect to spend around Rs 20,000 crore in terms of investment. We have not reduced our investments," said Ashok.It may be noted, between 2012-17 IOC planned investment of around Rs 56,200 crore but ended up investing in around Rs 75,000 crore.All the investments are in refinery expansion, upgradation of quality of refineries, building new pipelines, getting more aggressive in petrochemical ...

Indian Oil joins Rs 2-lakh crore m-cap club; stock hits fresh high

The stock hit a lifetime high of Rs 418, up 2.3% on the BSE in intra-day trade.