IOC and other state-run oil marketing companies such as BPCL and HPCL are suffering revenue losses on sale of fuel as the government has not allowed them to raise prices in line with the increase in international crude oil prices that are racing toward 100 dollar a barrel. India imports nearly three-fourth of its crude oil requirements.
A stampede of sports fans trying to enter Madagascar's national stadium for the opening ceremony of the Indian Ocean Island Games killed 12 and injured around 80.
"The company is losing Rs 238 crore (Rs 2.38 billion) a day on retail fuel sales," Gyan Chand Daga, director ( marketing), IOC, said in Mumbai today. Oil marketing companies collectively lost around Rs 77,000-78,000 crore (Rs 770-780 billion) during last year, according to estimates. Retail prices of diesel and petrol were hiked in February for the first time since June 2006 to lower the burden of record crude oil costs on state oil refiners.
Modi said that the ocean economy held 'enormous promise'.
The IOC has ruled out marking the 40th anniversary of the Munich massacre at the London Olympics opening ceremony but will visit the airfield where some Israeli team members were killed, it said on Saturday.
Under the partnership, IOC's rural petrol pump outlets -- Kisan Seva Kendras -- will act as the bank's Business Correspondents, HDFC Bank said in a statement.
India yet to make formal bid for hosting World Athletics Championships in 2027
WFI President Sanjay Singh on Friday assured that the protesting wrestlers' trio of Bajrang Punia, Vinesh Phogat and Sakshi Malik would not face any discrimination and he would personally approach them for appearance in the Olympic Qualifiers trials, which will be held in Maharashtra.
In a continued effort to thrust the ouster of jailed Indian Olympic Association president Suresh Kalmadi and his aides, Clean Sport India (CSI) has asked the international governing body to take necessary action against the tainted officials.
No question of going back on IOA CEO's appointment, says PT Usha
'Brigitte Henriques calls on all members of the sports movement to remain mobilised on the essential and paramount objective: the full success of the Paris Olympic and Paralympic Games in 2024.'
Indian Oil Corporation, the country's largest downstream company, has major plans for Nigeria, the world's eighth largest exporter of crude oil.
State-owned Indian Oil Corporation plans to invest close to Rs 1500 crore (Rs 15 billion) in 2003 to set up about 1000 petrol stations and improve its retail infrastructure before competition from private retailers.
Russia must explain how it will implement its controversial anti-gay propaganda law and detail its impact on next year's Sochi Winter Games, Olympic president Jacques Rogge said on Friday.
Reaffirming its stand, the International Olympic Committee Wednesday rejected calls from the Indian Government to drop Dow Chemicals as sponsor of the London Games because of its links to the 1984 Bhopal gas tragedy.
International Olympic Committee (IOC) president Thomas Bach will meet Prime Minister Narendra Modi on Monday during his one-day whirlwind visit to discuss ways to take Indian sports forward amid speculation that the country might bid for the 2024 Olympic Games.
State-owned Indian Oil Corp (IOC) on Tuesday said it is losing about Rs 3 on the sale of every litre of petrol, but will decide on raising prices at an "appropriate" time.
The board of Indian Oil Corporation on Wednesday approved share swap ratio for merging its subsidiary IBP Co Ltd with itself.
The International Olympic Committee (IOC) has discovered seven more positive drugs results from re-testing samples taken at last year's Beijing Games, stemming from six athletes, it said on Tuesday. All of them tested positive for CERA (Continuous Erythropoiesis Receptor Activator), the new generation of banned blood-booster erythropoietin (EPO) during the Beijing Olympics last August.
Indian Oil Corporation will fund restoration of the Sun temple at Konark in Orissa, Minister for Tourism and Culture Ambika Soni said on Tuesday.
L&T was beset by buying in early trades on Thursday after the company announced that it bagged a Rs 1,242-crore (Rs 12.42 billion) order from IOC to set up a PTA plant at the latter's refinery at Panipat.
The company is losing about Rs 80 crore (Rs 800 million) a day on sale of petrol, diesel, kerosene and cooking gas as the government has not allowed oil marketing companies to raise prices in line with the increase in international crude oil prices.
State-run Indian Oil Corporation on Wednesday it was incurring a loss of Rs 50 crore (Rs 500 million) per day on sale of all fuel products but petrol.
The International Olympic Committee is planning a conference on the role of the World Anti-Doping Agency (WADA) to improve the drugs in sport watchdog's deteriorating ties with international federations and national Olympic committees.
Indian Oil Corp (IOC), nation's largest oil firm, is likely to sign a joint venture agreement with Nuclear Power Corporation of India (NPCIL) this month to foray into nuclear power generation.
L N Mittal's foray into oil and gas trading business through a joint venture with ONGC is facing fresh opposition from refiner Indian Oil Corp, which feels the JV is ineligible to bid for its tenders.
Sports Minister Jitendra Singh asked the International Olympic Committee to "assist" in bringing India back into the Olympic fold and said that the country is at "crossroads" as far as sports administration was concerned.
Officials from State-run refiners contend that savings from purchase of Russian oil are used to offset a part of the losses in revenues from selling transport fuels and LPG at State-set rates.
Tata group chairman Ratan Tata on Tuesday came out in support of the West Bengal government for offering shares of Haldia Petrochemicals Limited to state-owned Indian Oil Corporation -- a decision contested by HPL's principal promoter, the Chatterjee
A total of 1,016 candidates -- 664 men and 352 women -- have qualified in the examination and have been recommended by the Union Public Service Commission for appointment to various services.
Brazilian police said on Tuesday they had uncovered emails between detained International Olympic Committee (IOC) member Patrick Hickey and the British owner of a ticketing company they said masterminded a scheme selling Olympic tickets illegally.
Female sport in Afghanistan has been crushed since the Taliban took over from a Western-backed government in August 2021.
The company has already decided to give a monthly pension of Rs 10,000 to Manjunath's dependent besides offering to takeover the education loan availed by him for his studies at IIM.
Indian Oil Corporation, the country's largest oil marketing company by sales, will open the country's first hydrogen fuel-dispensing station in New Delhi next month. The new-age pump will be set up in Dwarka.
Indian Oil Corporation Ltd sank deeper into the red with losses amounting to Rs 1.2 billion, as Colombo is yet to repay billions for selling fuel below costs.
Sanjay Singh claimed that the veteran wrestlers who have been protesting do not want junior wrestlers to progress
