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  • Kuwait plans to shorten oil supply deals for some Asian buyers Feb 17, 2021 07:43 PM IST

    Kuwait plans to shorten oil supply deals for some Asian buyers

    The fourth-biggest producer in the Organization of the Petroleum Exporting Countries (OPEC) said it would assess the situation in over October and November before committing supplies for the first quarter of 2022, the sources said.

  • IOC buys its first cargo of Iraqi Basra Medium oil: Report Jan 06, 2021 03:30 PM IST

    IOC buys its first cargo of Iraqi Basra Medium oil: Report

    IOC loaded the cargo onto Minerva Kalypso, a suezmax-sized vessel, which left Iraq's southern port of Basra on January 4, the data showed. The ship is expected to arrive at Chennai port in southeastern India around January 14.

  • Indian Oil runs at full capacity on demand rebound Nov 12, 2020 07:09 PM IST

    Indian Oil runs at full capacity on demand rebound

    IOC has been gradually raising crude runs at its plants, which plunged to about 39 percent at the beginning of April when a nationwide coronavirus lockdown hit fuel demand.

  • IOC to offer differentiated fuels, hydrogen-spiked CNG Oct 19, 2020 07:08 PM IST

    IOC to offer differentiated fuels, hydrogen-spiked CNG

    IOC, which controls over 40 percent of India’s diesel-dominated petroleum product market, recently introduced differentiated LPG for industrial users that gives flame temperature that is 80 percent higher than conventional cooking gas, thereby cutting down cooking time and saving 5-8 percent on fuel.

  • Indian Oil sees gasoil, petrol sales at pre-pandemic levels in first half of FY21 Sep 14, 2020 11:40 AM IST

    Indian Oil sees gasoil, petrol sales at pre-pandemic levels in first half of FY21

    India, the world's third-biggest oil importer and consumer, has experienced a sharp decline in its fuel demand, mirroring a global trend following the coronavirus outbreak.

  • Indian state refiners halt oil imports from Chinese companies Aug 27, 2020 04:06 PM IST

    Indian state refiners halt oil imports from Chinese companies

    The new regulation, put in place on July 23, comes after a border clash between India and China that killed 20 Indians and soured relations between the two neighbours.

  • Indian Oil Corp nears first deal to export fuels to Mauritius Aug 19, 2020 01:00 PM IST

    Indian Oil Corp nears first deal to export fuels to Mauritius

    IOC will supply 205,000 tonnes of 95 RON gasoline, 235,000 tonnes of 10 parts per million (ppm) gasoil, 175,000 tonnes of jet fuel and up to 105,000 tonne of marine gasoil, sources said.

  • IOC expects India's fuel demand to take at least 6-9 months to return to normal Aug 04, 2020 05:55 PM IST

    IOC expects India's fuel demand to take at least 6-9 months to return to normal

    Fuel sales had fallen by a record 45.8 percent in April when a nationwide lockdown was in place to check the coronavirus infections.

  • Indian refiners cuts runs as fuel demand dips, margins fade Jul 28, 2020 10:10 PM IST

    Indian refiners cuts runs as fuel demand dips, margins fade

    Fuel demand in Asia's third largest economy had been rising since May from historic lows in April, when a nation-wide lockdown to stem the spread of the novel coronavirus was enforced.

  • India's crude processing extends recovery in June Jul 23, 2020 08:58 PM IST

    India's crude processing extends recovery in June

    Indian refiners operated at about 85.4 percent of their overall capacity in June, the data showed.

  • Fitch Ratings maintains IOC debt rating at 'BBB-', outlook negative Jul 20, 2020 08:38 PM IST

    Fitch Ratings maintains IOC debt rating at 'BBB-', outlook negative

    IOC's rating benefits from its dominant market position in India, where it is the largest oil refining and marketing company, the above-average complexity of its refining assets and improving diversification

  • India's petrol, diesel demand falls due to high prices, COVID-19 lockdown Jul 17, 2020 06:51 PM IST

    India's petrol, diesel demand falls due to high prices, COVID-19 lockdown

    Fuel demand growth in India, the world's third-biggest oil importer and consumer, plunged to historic lows in April when the federal government imposed a country-wide lockdown.

  • IOC, ONGC, other PSUs implementing projects worth Rs 3.57 lakh crore: Petroleum Ministry Jul 06, 2020 04:46 PM IST

    IOC, ONGC, other PSUs implementing projects worth Rs 3.57 lakh crore: Petroleum Ministry

    Oil Minister Dharmendra Pradhan and other senior officials of the ministry "reviewed the ongoing oil and gas projects started by PSUs since the resumption of economic activities from April 20, 2020".

  • India to end federal control of gas prices, lift LNG transport use Jun 26, 2020 08:12 PM IST

    India to end federal control of gas prices, lift LNG transport use

    To boost gas usage, India is expanding infrastructure including building new liquefied natural gas (LNG) import plants and connecting households with an expanding gas pipe network.

  • Indian Oil Corp reports massive loss of Rs 5,185 crore in Q4 on inventory losses Jun 24, 2020 05:06 PM IST

    Indian Oil Corp reports massive loss of Rs 5,185 crore in Q4 on inventory losses

    The company, which had earned $4.09 on turning every barrel of crude oil into fuel in January-March 2019, posted a negative gross refining margin of $9.64 per barrel.

  • India asks oil and gas producers to use more local steel in infrastructure Jun 16, 2020 07:04 PM IST

    India asks oil and gas producers to use more local steel in infrastructure

    India, the world's third-biggest oil importer and consumer, plans to invest about $160 billion by 2025-26 in expanding refining capacity, building gas infrastructure and ramping up exploration and production.

  • IOC raises refinery operations to 60% capacity, plans to scale up further by month-end May 11, 2020 08:24 PM IST

    IOC raises refinery operations to 60% capacity, plans to scale up further by month-end

    Fuel demand has shown signs of returning after lockdown restrictions were eased by first allowing industries in rural areas to operate, and then inter-state vehicular traffic and plying of some trains.

  • India plans to fill strategic oil storage by the third week of May Apr 14, 2020 03:30 PM IST

    India plans to fill strategic oil storage by the third week of May

    India's fuel demand in March declined by 17.8 percent, the lowest in over two decades.

  • Indian Oil Corp ties up additional LPG imports; money transferred to beneficiaries for free LPG Apr 09, 2020 09:35 PM IST

    Indian Oil Corp ties up additional LPG imports; money transferred to beneficiaries for free LPG

    Indian refiners have been forced to cut refinery run rates as shutting down of factories, suspension of flights, stopping of trains and vehicular traffic going off roads shrank demand. Since LPG is produced alongside petrol, diesel and kerosene when crude oil is processed, its availability from domestic refineries has reduced.

  • India to use low priced oil from Saudi Arabia, UAE to fill strategic reserves Apr 08, 2020 06:30 PM IST

    India to use low priced oil from Saudi Arabia, UAE to fill strategic reserves

    Oil Minister Dharmendra Pradhan had in the last few days held talks with his counterparts in Saudi Arabia and the UAE with a view to shoring up supplies.

  • India switches to world's cleanest petrol, diesel with no increase in prices Apr 01, 2020 03:42 PM IST

    India switches to world's cleanest petrol, diesel with no increase in prices

    India will join the select league of nations using petrol and diesel containing just 10 parts per million of sulphur as it looks to cut vehicular emissions that are said to be one of the reasons for the choking pollution in major cities.

  • Coronavirus lockdown: ONGC, IOC, other oil cos contribute over Rs 1,031 cr to PM COVID-19 fund Mar 31, 2020 06:00 PM IST

    Coronavirus lockdown: ONGC, IOC, other oil cos contribute over Rs 1,031 cr to PM COVID-19 fund

    Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC) and other public sector oil companies have contributed over Rs 1,000 crore to the Prime Minister CARES Fund to help in the fight against COVID-19 pandemic.

  • Indian state refiners reduce oil processing runs as demand tumbles Mar 24, 2020 07:40 PM IST

    Indian state refiners reduce oil processing runs as demand tumbles

    Asia's third largest economy with 1.4 billion people has reported about 500 cases of the virus but health experts say a big jump could be imminent. The government has halted domestic flights and most train and metro services.

  • IOC plans LPG bottling plant in Mizoram, upgrade 100 retail outlets in Northeast Mar 17, 2020 09:48 AM IST

    IOC plans LPG bottling plant in Mizoram, upgrade 100 retail outlets in Northeast

    The company is currently in talks with the Mizoram government for setting up the bottling plant in the state, said G Ramesh, chief general manager of the IOC.

  • Indian Oil Corp declares Rs 4.25/share interim dividend, govt to get Rs 2,060 cr Mar 13, 2020 04:10 PM IST

    Indian Oil Corp declares Rs 4.25/share interim dividend, govt to get Rs 2,060 cr

    "The Board of Directors of the company at its meeting held on March 13 has declared an interim dividend of 42.50 percent i.e. Rs 4.25 per equity share of face value of Rs 10 each for the financial year 2019-20," the company said in a regulatory filing.

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