IOC Consolidated June 2020 Net Sales at Rs 60,528.68 crore, down 53.9% Y-o-Y

Doorstep delivery of diesel may be the next big thing with oil companies roping in startups

The Ministry of Petroleum and Natural Gas started mulling over the idea of legalisation of home delivery of HSD in 2017, after which it introduced the Petroleum Explosives Safety Organisation (PESO) to draft guidelines in this regard

IOCL: Profitability hit by inventory losses

Post a sharp hit during the initial lockdown phase, the performance of IOC is now improving. However, near-term challenges remain

IOC launches battery swapping facility for quick recharge of EVs

Indian Oil Corp (IOC) will begin with a pilot of battery swapping at one of its outlets in Chandigarh and gradually scale it up to 20 stations, company chairman Sanjiv Singh said at the launch.

IOC Standalone March 2020 Net Sales at Rs 118,439.08 crore, down 6.16% Y-o-Y

IOC Consolidated March 2020 Net Sales at Rs 118,007.32 crore, down 6.39% Y-o-Y

Power Grid, NTPC, IOC, BPCL, OIL, GAIL trade mixed after Fitch revises outlook

Shares of Power Grid Corporation of India fell almost 2 percent while those of NTPC jumped over 2 percent in early trade on BSE

Fitch revises outlook of IOC, NTPC among other state-owned firm to negative

The PSUs whose rating outlook has been revised include IOC, Bharat Petroleum Corp Ltd (BPCL), Oil India Ltd (OIL), GAIL India Ltd, Power Grid Corp of India Ltd and NTPC Ltd.

IOC aims to operate refineries at 90% capacity in June

IOC, which along with subsidiary Chennai Petroleum Corp , controls about a third of India's 5 million barrels per day (bpd) refining capacity, is operating its plant at about 83% capacity, a sharp increase from 39% at the beginning of April.

IOC says Unlock 1.0 to revive fuel sales soon

The company said though it is on track to spend the approved capital expenditure for 2020-21, it has "critically examined all capex proposals for rationalisation of cost and time frame."

HPCL, BPCL, IOC slip 7-13% after govt hikes excise on petrol, diesel

The move will not impact consumers and price hike will be absorbed by OMCs, a government official said

Plunging fuel demand has OMCs worried on all fronts

While IOC, which controls more than 50 percent of the market, did not share its sales data, both BPCL and HPCL have said their diesel and petrol sales have fallen by over 55 percent.

IOCL's Mathura refinery ramps up LPG production amid lockdown

All precautions are being taken to protect our employees amid the coronavirus outbreak, however, the “round the clock” production of fuel has not been affected, Arvind Kumar, Executive Director of the refinery told reporters.

IOC declares force majeure on oil purchases from Saudi, UAE, Iraq, Kuwait

Sources said IOC has asked the four suppliers to defer some of the volumes they were to deliver in April.

No fuel crisis in India; enough stock of petrol, diesel, LPG available to last lockdown: IOC

Singh, who continued to oversee the mammoth operations of ensuring that fuel reaches every nook and corner despite bereavement of his father on the day the 21-day lockdown was declared, said there is no shortage of any fuel in the country and customers should not resort to panic booking of LPG refills.

IOC working toward July-August Olympics in 2021: Report

John Coates, the IOC's Coordination Commission chief for Tokyo, told the Yomiuri the Games would have to be held between the tennis Grand Slams of Wimbledon, slated to end in mid-July, and the U.S. Open, which starts in late August.

Olympic postponement inevitable says IOC official Dick Pound

The IOC said on Sunday the body would wait four more weeks before announcing its decision on the fate of the July 24-August 9 Games, amid mounting calls for them to be rescheduled.

IOC becomes first company to begin supply of BS-VI fuel across country

"We have successfully rolled out the supply of BS-VI grade fuel across the country," IOC Chairman Sanjiv Singh said.

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.

IOC-Phinergy to begin metal-air battery field trials; in talks with auto cos

Indian Oil chairman Sanjiv Singh has also said they will soon form a joint venture with Phinergy to set up an unit to manufacture metal-air batteries called al-air battery system, which does not use electricity to recharge.

IOC says Maha govt positive about Ratnagiri refinery

The statement from Indian Oil Chairman Sanjiv Singh comes amidst local media reports that people in the Nanar region, where the USD 60 billion-plus project was originally planned and then shelved following opposition from the Shiv Sena when it was part of the previous BJP government, are demanding the refinery come up in their area now.

Ready for BS-VI supply, prices to go up marginally from April 1: IOC

The largest oil supplier has spent over Rs 17,000 crore to upgrade its refineries to produce the low-sulphur diesel and petrol, the company's chairman Sanjiv Singh told reporters here.

Govt may direct IOC to buyback its 3% stake to boost finances: Report

IOC, however, may push back on the order as it is also facing a Rs 5,500 crore dividend demand from the government

IOC signs annual deal on option to buy crude from Rosneft

"This is just the beginning," Dharmendra Pradhan said, after meeting with Rosneft Chairman Igor Sechin in New Delhi.

ONGC, IOC, other oil PSUs to invest Rs 98,521 cr in FY21

The investment proposed in 2020-21 is almost 4% higher than Rs 94,974 crore spending by the state-owned oil firms in the current fiscal year that ends on March 31, according to Budget 2020-21 documents.