Reliance in the 2018-19 fiscal year that ended March 31, reported a turnover of Rs 6.23 lakh crore. In comparison, IOC posted a turnover of Rs 6.17 lakh crore for the fiscal, according to regulatory filings by the two companies.
IOC plans to pull down the 1 million tonnes per year Nagapattinam refinery of its subsidiary Chennai Petroleum Corp Ltd and build a brand new 9 million tonnes unit in the next five to six years.
"In the wake of the cyclone Fani making landfall in Odisha earlier today (Friday), IOC is fully geared up and ensuring uninterrupted fuel supply from its locations in Odisha and West Bengal on the east coast," the company said in a statement.
The Centre filed the 1,001st patent this week, the company said in a statement here.
Struggling to meet budget targets, the government had in the just concluded fiscal (2018-19) asked cash-rich PSUs to pay second interim dividend as well as undertake share buyback.
This is the second time the refiner has halted fuel supplies to crisis-stricken Jet, which is saddled with over $1.2 billion in debt and owes money to banks, aircraft lessors, suppliers, pilots and others.
IOC and Hindustan Petroleum Corp Ltd (HPCL) won city gas distribution rights in nine geographical areas each last month, and BPCL got rights to two areas.
The government owns 53.88 per cent stake in IOC and stands to get about Rs 761 crore, excluding dividend distribution tax.
IOC, the country's top refiner, had shut the CDU and some other secondary units at the 300,000-bpd refinery in the northern state of Haryana for about a month from mid-February for routine maintenance.
IOC won city gas distribution licences for nine cities, most of them in Bihar and Jharkhand, on its own and one in a joint venture with Adani Gas, according to a press statement issued by Petroleum and Natural Gas Regulatory Board (PNGRB).
The company is seeking the cargo for delivery into the port of Dahej on April 20, one of the sources said.
State-owned IOC bought a partial LNG cargo for delivery on February 25 from commodities trader Gunvor, the sources said.
State-run IOC had previously purchased US oil from spot markets and signed a mini-term deal in August to buy 6 million barrels of U.S. oil between November to January.
India is restricted to buying 1.25 million tonnes per month, some 300,000 bpd. January imports from Iran were 10.4 percent lower than December, the tanker arrival data showed.
The state-owned company is seeking a partial cargo for delivery on Feb. 25, with offers due by February 11, one of the sources said.
The refiner will shut a 150,000 bpd crude unit. It will also shut a sulfur recovery unit, hydrocracker, diesel hydrotreater, and coker among others for planned maintenance.
IOC Chairman Sanjiv Singh said the Rs 5,151-crore terminal is complete and would be commissioned after completion of dredging of the channel that will bring cryogenic ships carrying natural gas in its liquid form to the port.
Indian Oil Corp (IOC) plans to pull down the 1 million tonnes per year Nagapattinam refinery of its subsidiary, Chennai Petroleum Corp Ltd (CPCL) and build a brand new 9 million tonnes unit in next 5-6 years.
IOC will buy back 29.76 crore shares at Rs 149 apiece, the company said in a regulatory filing.
Under the agreement, New Delhi must restrict its Iran oil purchases to 1.25 million tonnes, or 9 million barrels.
A 14.2-kg subsidised LPG cylinder will cost Rs 500.90 in the national capital from midnight tonight as against Rs 507.42 currently, Indian Oil Corp (IOC), the country's largest fuel retailer, said in a statement.
The S&P BSE Oil and Gas index has lost more than 20 percent of its value since it touched a record high of 16,727.41 in November last year.
The company is seeking the cargoes on a delivered ex-ship basis into Gujarat between January 7 and January 14, and from January 21 to January 28, one of the sources said.
The move will boost employment generation by thousands and an investment of thousands of crores of rupees.
The company has a deal to buy 180,000 barrels per day (bpd)Iranian oil this fiscal year.