Led by Olympic champion Neeraj Chopra, India will seek to showcase its ascendency as a sporting power at the Asian Games, which opens formally on Saturday after an unprecedented one-year delay due to the COVID-19 pandemic.
Indian Oil Corporation on Thursday sold a fifth of its 9.2 per cent stake in Oil and Natural Gas Corporation to garner Rs 3,685 crore (Rs 36.85 billion).
The need for new and innovative thinking around testing should become a priority to strengthen the fight against doping in sport, the new International Olympic Committee (IOC) president Thomas Bach said on Wednesday as he compared drug cheating to terrorism.
Indian Oil Corporation is India's only Fortune 500 company.
"Petrol margins will turn positive from Saturday. Based on the average crude price of second fortnight of October, it (margin) should be around Rs 4 a litre," IOC Chairman Sarthak Behuria told reporters. However, the company would continue to make losses on diesel sales at about Rs 1 a litre.
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
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.
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.
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.
The former South Africa captain said the inclusion of cricket in the Olympic Games is a big push to attract more countries to the game and it is a big chance for cricket to challenge football in terms of global sports.
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.
What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
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
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.
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 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.
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 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.
Russian athletes have been banned from many sports and largely cannot compete in Europe due to the sanctions and competition complications caused by Russia's invasion of Ukraine that began on February 24, 2022.
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
Indian Oil Corporation and ONGC Videsh Ltd have tied up with BP and Occidental, the global oil majors, to bid for oilfields in Kuwait.
Franchise is the future but Australia rule the here and now
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.
Concerned at the state of affairs of the Indian Olympic Association, the International Olympic Committee has threatened to suspend the governing body if it fails to conduct its election within the coming weeks.
USA withdrew from Russian-led International Boxing Association and is set to join the breakaway federation.
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
Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said. The oil refining and marketing company, which was the top bidder even in the previous auction of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes on behalf of seven fertilizer plants.
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.
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.
UWW boss Nenad Lalovic also said the world body will require a "robust plan" from the stake-holders guaranteeing a "safe environment" where grapplers can report abuse and harassment, and a clear hearing process is in place.
