| Indian Oil Corporation Related news |
Indian Oil seeks nod to raise 20,000 crore through private placement of debentures
Posted on 29th August 2018 |
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Mumbai: Indian Oil Corp. Ltd, the country’s largest oil marketing company, has sought shareholder approval to raise up to 20,000 crore through a private placement of debentures in 2018-19, said two people aware of the development. The company plans to approve issuance of debentures through private placement at its annual general meeting on 29 August, it said in its annual report for 2017-18. |
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India oil import costs set to rise as Iran US sanctions kick in
Posted on 23rd August 2018 |
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US sanctions against Iranian oil exports take effect on 4 November, but the impact is already starting to show. India’s crude oil imports from Iran fell in the first half of August, according to a report by Edelweiss Securities Ltd, citing data from FGE, a global oil and gas consultancy. The accompanying chart has the details. A weaker August comes after a strong July. The US sanctions are expected to make it challenging for India to sustain oil imports from Iran, its third-biggest crude supplier. |
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Indian Oil Corporation Rating: Like peers, strong quarter for company
Posted on 21st August 2018 |
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Similar to its peers BPCL and HPCL that reported last week, IOC also reported a strong result. Reported Ebitda of Rs 126 bn (+14% q-o-q, +57% y-o-y) was sharply 66% ahead of our estimates and 20% ahead of Bloomberg consensus forecasts. Large inventory gain of Rs 78.7 bn (`59.2 bn or $6.8/bbl in refining) was a key reason for the beat. We expected core marketing margins to be weak, as OMCs had not taken enough timely increases in petrol/diesel prices. |
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IOC to invest Rs 20,000 cr in city gas projects in 5-8 years
Posted on 13th August 2018 |
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New Delhi: Indian Oil Corp (IOC), the nation’s largest oil company, plans to invest Rs 20,000 crore in city gas distribution projects in the next five to eight years as it bets big on gas business to complement its traditional oil refining and marketing business, Chairman Sanjiv Singh said on Monday. |
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IOC-Adani duo win bid for Burdwan piped gas
Posted on 11th August 2018 |
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New Delhi: A consortium of Indian Oil-Adani Gas on Friday won the bid to supply piped gas in Burdwan, the only city in Bengal in the latest round of bidding for this service to 78 cities. The consortium outbid others such as GAIL Gas, Hindustan Petroleum Corporation, H-Energy East Coast and Bharat Gas Resources to win the rights to offer piped natural gas to the residents as well as CNG to autos and other vehicles in Burdwan. |
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IOC TO INVEST RS 1.75 LAKH CR TO EXPAND GAS BUSINESS
Posted on 6th August 2018 |
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Indian Oil Corp, the nation's largest oil firm, plans to invest Rs 1.75 lakh crore to nearly double refinery boost petrochemical production, expand gas business and lay new pipelines to become a vertically integrated company, its Chairman Sanjiv Singh said. It plans to raise capacity to turn crude oil into fuels like petrol and diesel to 150 million tonnes per annum by 2030 from the current 80.7 million tonnes. |
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Adani Group, Indian Oil win big in bidding for city gas distribution
Posted on 4th August 2018 |
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Gautam Adani-led Adani Gas, Indian Oil Corporation, Sudhir Mehta-led Torrent Gas, Bharat Gas Resources and Gail Gas have managed to get the maximum number of geographical areas in the ninth round of city gas distribution (CGD) bidding. The Petroleum and Natural Gas Regulatory board has issued letter of intent to 18 successful bidders for 48 Geographical Areas (GAs) on Friday. |
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Indian Oil sells naphtha from Paradip refinery for first time since May 17
Posted on 3rd August 2018 |
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Indian Oil Corp (IOC) sold a naphtha cargo from its Paradip refinery this week, four traders that participate in the market said on Friday, in what was likely the first sale since May 2017. IOC sold up to 30,000 tonnes of naphtha on late Thursday in two separate cargoes for second-half August loading from Paradip to a trading house at discounts of about $14 a tonne to its own price formula on a free-on-board (FOB) basis, the traders said. |
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Indian Oil says no to unified tariffs for gas transmission
Posted on 27th July 2018 |
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NEW DELHI: State-run refiner Indian Oil Corp has opposed natural gas firm GAIL’s pitch for a unified tariff for its pipelines, saying such a move would raise input cost for its three refineries by Rs 1,000 crore and only help operators of old liquefied natural gas terminals and pipelines. Indian Oil, BP and Shell have also demanded separation of GAIL’s natural gas transportation and marketing business before shifting to a unified tariff. |
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Fitch sees IOC’s net debt levels rising due to large capex
Posted on 16th July 2018 |
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New Delhi:Fitch Ratings on Monday said it expects state-owned Indian Oil Corp’s (IOC’s) net debt levels to increase due to its large capital expenditure and investment plans in the medium term and affirmed a rating equivalent to India’s sovereign rating. The ‘BBB-’ rating with stable outlook “equalises the India-based company’s rating with that of its largest shareholder, the State of India (BBB-/Stable), based on Fitch’s Government-Related Entities (GRE) Rating Criteria,” the rating agency said in a statement. |
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