Page 2 - Iocl

IOC buys Russian crude at steep discount

Indian Oil Corporation (IOC), the nation's top oil firm, has bought as much as 3 million barrels of crude oil that Russia had offered at steep discount to prevailing international rates, sources said.

India's Green Hydrogen Policy to benefit RIL, Tata Power the most: Analysts

RIL has already spent $1.4 billion to acquire technologies across the solar battery and hydrogen ecosystems

West Bengal: 3 killed, 44 injured in IOC's Haldia refinery fire

IOC said in a statement that the incident occurred at a unit of the refinery during shutdown-related works

Automation Anywhere, IndianOil sign 5-year deal to automate key processes

During phase-1 of the plan, IOCL has automated select key processes across Finance, HR, inventory using Automation 360, Automation Anywhere's AI-powered RPA platform

Indian Oil reports 174% spike in Q1 consolidated net at Rs 6,109.69 cr

Expects diesel demand to reach pre-Covid levels by Diwali

Tata Motors wins order for 15 hydrogen-based fuel cell buses from IOCL

The deal would entail supplying buses to the R&D Centre of IOCL at Faridabad apart from Tata Motors collaborating with the country's largest fuel retailer to undertake R&D projects

SBI, IOCL ink India's first Libor alternative rate deal

SBI and IOCL reach an important milestone in Libor transition with a $100 mn deal for 5 years

IOC Board to consider raising up to Rs 20,000 cr via bonds, debentures

The borrowing would be carried out in one or more tranches, the company said in a regulatory filing on Thursday

ONGC, Indian Oil Corp raise Rs 3,140 cr in debt to meet business expenses

In separate regulatory filings, the two firms said they raised the debt through non-convertible debentures (NCDs)

IOC to invest Rs 17,825 cr in Gujarat refinery expansion, petchem project

IOCL net profit fell 47% annually to Rs 1,910.8 crore in the quarter ended June 30, mainly due to inventory losses stemming from fluctuations in global oil prices

Chennai Petroleum to invest Rs 1,850 cr in BS VI auto fuel quality upgrade

CPCL has undertaken a project to use natural gas as an internal fuel, replacing the existing liquid material such as fuel oil and naphtha, at an estimated cost of Rs 421 cr

Petronet gives outgoing CEO 27% hike in FY20; launches search for new chief

Singh, who completes his five-year term as managing director and CEO next month, took home a record Rs 1.8 crore in fiscal 2019-20 (April 2019 to March 2020)

Spending 50% of capex target by September: An uphill task for PSUs

Union Finance Minister Nirmala Sitharaman had earlier this week asked public sector companies to undertake half their capex for the current year by September.

Signs of green shoots? Seven firms bag orders worth Rs 42,000 cr in Q1

Industry executives and analysts said most of this new order activity was a spillover, and fresh project finalisation remains weak

Petrol price up by 55 paiser and diesel by 60 paise; consumers seek relief

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT

Blue chips see cuts in target prices; half of Nifty sees cuts of over 15%

According to data from Bloomberg, banks have seen among the sharpest cuts in target prices -- between 16 and 60 per cent.

State refiners fill up India's strategic reserves with spare crude oil

Buying more crude to fill strategic capacity will benefit India as international crude oil prices are falling

Volatility in oil prices, uncertain petroleum demand impacting Indian OMCs

An output cut, at best, will put a floor to the falling crude prices, but it may not stabilise demand-supply dynamics.

Silver lining for OMCs: Low crude oil prices signal structural gains

HPCL may benefit more from improvement in marketing margins

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.