Page 3 - Iocl

Simplex Projects case: Bank of Baroda moves SC against Calcutta HC's order

The matter pertains to a bank guarantee of Rs 6.97 crore furnished by BoB to Indian Oil Corporation (IOC) on behalf of Simplex Projects

Oil companies seek mechanism to pass through BSVI upgrade cost

BPCL will roll out BS-VI fuels at all its outlets from March

Calcutta HC asks RBI to take appropriate action against Bank of Baroda

The oil company told the court that it had entered into an agreement with Simplex Projects Limited in 2017 for undertaking certain work at the Bongaigaon facility of IOCL in Assam

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.

PSU stocks see sharp movements after Nifty CPSE index rejig; IOCL, PFC dip

Experts say companies added into index could attract large investor flows

IOC to take call on bidding for govt's stake in BPCL: Chairman Sanjiv Singh

In November, CCEA approved the sale of government stake in five PSUs: BPCL, Shipping Corporation of India, Container Corporation of India

Iran crude oil imports dips to 1.7 mt in FY20, down from 23.9 mt in FY19

This comes at a time of increasing imports from the US, which rose from 1.9 mt in 2017-18 to 6.2 mt in 2018-19. In H1FY20, India imported 5.4 mt from the US.

IOC top brass rejig: Shrikant Madhav Vaidya becomes new chairman

Shrikant Madhav Vaidya will be the new Chairman of the country's biggest oil firm, Indian Oil Corp (IOC). Vaidya, who currently is Director (Refineries) at IOC, was selected for the top post by government headhunter Public Enterprise Selection Board (PESB) on Thursday, sources with direct knowledge of the development said. He was selected after PESB interviewed five candidates, including four directors on IOC board - Director Finance Sandeep Kumar Gupta, Director HR Ranjan Kumar Mohapatra and Director R&D SSV Ramakumar. Besides these and Vaidya, the fifth candidate interviewed was Rahul Bhardwaj, an executive director with the company. Vaidya, 56, joined the IOC Board in October and will replace Sanjiv Singh who retires as Chairman of the company at the end of June next year. Sources said Vaidya will be first screened by anti-corruption bodies CVC and CBI before his candidature is put before the Cabinet Committee on Appointments headed by Prime Minister for approval. He will have

At least 100 petrol pumps, 5% in remote areas: New liberalised fuel policy

The government had last month relaxed norms for setting up petrol pumps, allowing non-oil companies to market fuel in the world's fastest growing market

Oil minister hints IOC, other PSUs may not bid for stake in BPCL

The Cabinet Committee on Economic Affairs had on Wednesday decided to sell the government's entire stake in the country's second-largest state refiner BPCL and 4 other PSUs

IOCL may import 'costly' Russian oil as it aims to diversify sources

he nation is gradually tapping new sources to hedge itself against geopolitical risks.

Top 10 biz headlines: BPCL stake sale likely, Aug auto sales plunge & more

From the govt planning to offload its Rs 40,000-cr stake in BPCL to four- and two-wheeler sales falling by almost half in Aug from the equivalent month last year, here are today's top business stories

IOC to invest Rs 2 trn in 5-7 yrs, develop a new energy storage technology

These investments will be made across refinery expansions, petrochemical capacities and pipeline projects

Haldia Petrochemicals to invest Rs 8 K-cr more on naphtha cracker, PP units

HPL is setting up an integrated refinery with units for the production of paraxylene and purified terephthalic acid (PTA) in the first phase

Indian Oil Q1 net profit drops 47% to Rs 3737 cr on lower refining margins

The company's total income almost remained flat with an increase of only 0.48 per cent during the quarter under review

IOC plans to invest Rs 1 trillion more in Odisha to set up petchem units

The expansion in Odisha is likely to trip on land acquisition issues

Dharmendra Pradhan urges Odisha CM to speed up land acquisition for IOCL

IOCL is in the process of finalising Rs 400 billion of investments in new projects in Odisha

IOCL's Rs 31 billion Paradip unit to start production this month

The unit is being set up at an estimated cost Rs 31.5 billion

Indian Oil Corp to invest Rs 170 billion in Odisha petrochem projects

IOCL plans to set up PTA and MEG plants within its Paradip refinery complex. The PTA and MEG will then be converted into polyester yarn and staple fibre at a facility at the proposed textile park

IOCL plans to invest Rs 18.23 bn to expand east India's first LPG pipeline

The Paradip-Haldia-Durgapur LPG pipeline will be extended to Muzaffarpur and Patna to cater to the LPG demand of Odisha, Jharkhand and West Bengal