Indian Oil Corporation is India's only Fortune 500 company.
As part of its efforts to make Indian firms globally competitive, the government has allowed refiner Indian Oil Corporation and exploration firm Oil and Natural Gas Corporation to set up oil trading and risk management desk.\n\n\n\n
The once state-owned POAS is the leading player in the distribution, marketing and storage of refining petroleum products in Turkey. Besides, several other companies also have a sizeable market share, including BP, ExxonMobil, Shell, Total, and Turkish company Opet. IOC has tied up with Calik Enerji of Turkey to takeover a fuel retailing company in Turkey, a company official said but declined to identify the target company.
IBP's strong presence in the northern markets will complement IOC's marketing strengths and therefore, on a consolidated basis, the combined entity will benefit (but in FY05, the merger is likely to affect IOC's profitability marginally). \n
Indian Oil Corporation may buy the government's 26 per cent stake in oil and gas exploration firm Oil India Ltd for about Rs 2,000 crore (Rs 20 billion).
The Indian Oil Corporation's attempt to raise $35 million for its Sri Lanka operation has been a huge success with the company's initial public offering being oversubscribed by over six times.
A potential row between FIFA and the International Olympic Committee was finally averted on Thursday after FIFA's Congress ruled the men's Olympic tournament would remain an Under-23 competition.
New government policy on biofuels may consider financial incentives. Indian Oil Corporation, the country's biggest oil marketing company, is looking to acquire 50,000 hectares of wasteland in Uttar Pradesh for plantation of non-edible oilseeds, such as jatropha and karanjia, that are used for biodiesel production.
Sports Minister Ajay Maken, on Monday, said that the International Olympic Committee should keep the sentiments of Bhopal Gas tragedy victims in mind and drop Dow Chemicals as sponsors of next year's London Olympics.
The board of directors of Indian Oil Corporation on Wednesday decided to sell up to 50 per cent and 20 per cent of its take in Gas Authority of India Ltd
The country's largest refinery, Indian Oil Corporation, is unlikely to bid for the Iraqi crude oil tendered on Thursday, as the delivery schedule and other specifications do not meet its requirements.
Indian Oil Corporation would begin this month field trials of running buses on biodiesel -- diesel doped with 5 per cent non-edible oils -- IOC Director (R&D) N R Raje said on Wednesday.
Besides PESB selected chairman designate B Ashok (currently Executive Director retail sales in IOC) having no board experience, the case for extending Butola's service is more compelling because all the other six directors on board of the nation's largest oil firm are retiring in next one year.
The Oil Ministry has approved part sale of government's stake in Oil and Natural Gas Corp as well as Indian Oil Crop, a move that could fetch about Rs 24,000 crore (Rs 240 billion) for the Centre this fiscal.
The Indian Oil Corporation and Oil and Natural Gas Corporation's overseas arm ONGC Videsh Ltd will mount a joint bid for acquiring the South Ghawar gas field, one of the largest onshore fields in Saudi Arabia.
Indian Oil Corporation said it is losing Rs 90-100 crore per day on fuel sales as the government has not allowed the company to raise retail prices in line with international rates.
To contain misuse of LPG cylinders in markets, Indian Oil Corporation will soon bring out a system by which cylinder refills for domestic use will be coloured differently from those for commercial use. \n
State-owned Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum are collectively losing Rs 2.65 billion (Rs 265 crore) per day on selling fuel below cost and may end the fiscal with a Rs 874.4 billion (Rs 87,440 crore) revenue loss.
Indian Oil Corporation and ONGC Videsh Ltd have tied up with BP and Occidental, the global oil majors, to bid for oilfields in Kuwait.
Mukesh Ambani, will become the IOA's principal partner and help the country's sports federations
State-owned Indian Oil Corporation has begun stockpiling 15 days' supply of domestic cooking gas to meet contingencies like disruption in crude oil supplies in the event of war in Iraq.\n\n\n\n
British freestyle skier Gus Kenworthy has urged the International Olympic Committee (IOC) not to allow countries that have "appalling human rights stances" to host the Games and questioned China's suitability to stage the 2022 Winter Olympics.
Indian Oil Corporation on Tuesday said it may lose over Rs 25,000 crore (Rs 250 billion) in revenues this fiscal on selling fuel below imported cost.
The prime minister was seen wearing a light blue "sadri" jacket as he sat in the Rajya Sabha in the morning.
State-run Indian Oil Corp is losing Rs 92 crore (Rs 920 million) per day on sale of petrol, diesel, domestic LPG and kerosene as government has not allowed it to revise rates in line with firming international oil prices.
Indian Oil Corporation said on Wednesday that its net profit has surged by 51.5 per cent for the quarter ended June 2003 to Rs 944.67 crore (Rs 9.45 billion) from Rs 624.99 crore (Rs 6.25 billion) in the same period last year.
Besides, it loses Rs 15.46 per litre on kerosene and Rs 158.78 per domestic LPG cylinder as the government has not allowed them to revise retail prices.
Flying high on the country's aviation industry boom, Indian Oil Corporation expects to continue its double digit growth in the aviation fuel business despite the entry of Oil and Natural Gas Corporation into the segment.
IOC and its sister PSUs, Hindustan Petroleum and Bharat Petroleum, sell diesel, domestic LPG and kerosene at rates way lower than their imported cost to help government keep general price inflation under check.
The beds have been manufactured such that after both the marquee events, the beds will be recycled into paper products, while the mattresses formed of polyethylene materials will be reused for plastic products.
The proposal was under consideration of the Cabinet, Sarthak Behuria, chairman, Indian Oil Corporation, told reporters in Chennai after presiding over a memorandum of collaboration event.
Jim Thorpe will now go down as the sole winner of the decathlon and pentathlon at the 1912 Stockholm Games, 110 years after the American was stripped of his medals for infringing amateur rules at the time.
IOC sales rose to Rs 109,859.49 crore (Rs 1,098.59 billion) in Q2 from Rs 105,791.29 crore (Rs 1,057.91 billion) in the same period of 2012-13 fiscal, the company said in a filing to the stock exchanges.
Reliance Industries Ltd's legal battle over the Uttar Pradesh government's decision to impose 21 per cent value-added tax on gas is holding up supply to NTPC's two power plants and Indian Oil Corporation's Mathura refinery, despite a group of ministers making allocation to them.
Had Dhanush not been disqualified, India would have won the team gold with a junior Asian record. The shooter from Hyderabad could have also won an individual medal as he was placed third going into the finals.
