The company and other public sector fuel retailers Bharat Petroleum and Hindustan Petroleum are currently selling petrol at Rs 3.68 a litre below cost and diesel at Rs 2.90 per litre lower than cost.
Indian Oil Corporation will buy 40 per cent of ONGC Videsh Ltd's stake in the Greater Nile Oil Project in Sudan.
Indian Oil Corporation, the country's largest refiner, has lost out in the race for acquiring a stake in Indonesia's largest listed oil and gas producer Medco.
Former Olympic champions Alexander Popov of Russia and Moon Dae-sung from South Korea are among four new members elected to the International Olympic Committee's athletes commission. Popov, 50 meters freestyle gold medalist at the 1992 and 1996 Games, and Moon, a taekwondo gold medalist at the 2004 Athens Olympics, were joined by German fencer Claudia Bokel and Cuban volleyball player Ruiz-Luaces Yumilka.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
Athletics will get a lower share of Olympic revenues in the future after the International Olympic Committee on Wednesday recalculated the federations' revenues according to their contribution to the Games.
International Olympic Committee (IOC) Vice President John Coates has urged Tokyo to consider moving more events to venues outside the capital, including one hundreds of kilometres away, in a bid to rein in spending for the 2020 Summer Games.
The Court of Arbitration for Sport have rejected Japanese hammer thrower Koji Murofushi's appeal against the blocking of his election to the International Olympic Committee's Athletes Commission, CAS said on Wednesday.
Ace shooter Abhinav Bindra on Saturday applauded IOC's decision to not change its stance on barring charge-sheeted persons from contesting Indian Olympic Association (IOA) elections, saying it is heartening to see the world body keen on cleaning up sports in the country.
IOC owns about 74 per cent in BRPL and the merger would be effective on Wednesday, the company said in a statement to the Bombay Stock Exchange. Shareholders of BRPL will get four shares of IOC for every 37 shares they held.
Marion Jones and Tim Montgomery should be free to compete in the Olympic Games since the drug allegations against them are not proven, IOC president Jacques Rogge said.
The fate of a doping-tainted US Olympic relay gold medal is expected to be sealed next month at an International Olympic Committee meeting in Dubai, the IOC said on Friday. The women's 4x400 metres relay team could be stripped of their Athens 2004 Olympics gold medal after relay alternate Crystal Cox was handed a four-year ban earlier this year for using banned substances between 2001 and 2004.
A day after raising petrol price by a steep Rs 1.80 a litre, Indian Oil Corp, the nation's largest fuel retailer, on Friday said the hike was unavoidable as rupee depreciation has increased crude imports costlier.
After getting an entry into Olympics, the women boxing is now all set to make its debut in the Youth Olympics Games in 2014.
Indian Oil Corporation is mulling setting up a wholly-owned overseas investment vehicle if the government rejects the plan to create a second incarnation of ONGC Videsh Ltd with the participation of all state-owned oil firms.
Yogeshwar Dutt, Indian Olympic grappler and 2012 Olympics bronze medallist, has strongly objected to the International Olympic Committee's (IOC) decision to exclude the sport from the 2020 event.
Wrestling should be removed from the 2020 Olympic Games, the International Olympic Committee's Executive Board said in a surprise recommendation on Tuesday as it looks to revamp the Games sports programme.
Not even IOC President Jacques Rogge knows who will light the cauldron at the opening ceremony of the London Olympics. Rogge says 'I'd love to know" but 'this is one of the best kept secrets.'
Indian Oil Corporation Ltd is to submit an expression of interest to acquire the marketing assets of an oil company in Thailand.
IOC President Jacques Rogge said he was "very concerned" after protests disrupted the Olympic torch relay in London.
'It is great news (cricket in Olympics) if you are a business-person. America has a large section of Asian expats, who are crazy about cricket and they will fill the stadium and of course will follow the game on TV or streaming apps.'
In a significant move towards resolving the issues that led to India's ban from the Olympic family, the International Olympic Committee has asked the Indian Olympic Association to fix a date, in consultation with the Sports Minister, for a meeting before the end of this month in its headquarters in Lausanne.
The proposed chemical plant will use 2,50,000 tons of naphtha produced by IOC's Barauni refinery and the natural gas that GAIL plans to bring from eastern offshore and imported LNG through the planned Jagdishpur-Haldia pipeline. The two firms by the fiscal year would prepare a techno-economic feasibility study for the unit that would take up to five years for construction.
The IOC's financial situation remains solid despite the global economic crisis, with reserves of $558 million and continuing increases in television and sponsorship revenues.
International Cycling Federation (UCI) president Pat McQuaid enjoys the support of the International Olympic Committee despite the sport's tarnished image and the UCI's bitter row with the World Anti-Doping Agency, the IOC said.
An oil pipeline at Makum in upper Assam's Tinsukia district was on Tuesday damaged in an explosion, for which the United Liberation Front of Asom claimed responsibility. The explosion in the pipeline of the IOC-Assam Oil Division created a 4-ft crater in Pachim Mamarani area, AOD sources said, adding that there was no report of any casualty.
Jet fuel or ATF price on Tuesday was hiked by a steep 8.5 per cent - the second increase in a month, while commercial cooking gas rate was cut by Rs 100 per cylinder in line with divergent trends in international benchmarks. Aviation turbine fuel (ATF) price was increased by 7,728.38 per kilolitre, or 8.5 per cent, in the national capital to Rs 98,508.26 per kl, according to a price notification of state-owned fuel retailers. Rates, which vary from state to state depending on the incidence of local sales tax or VAT, have been increased on firming up of global rates that followed four months of decline.
The acquisition of stake in Progress Energy Resources Corp's shale gas assets and Pacific NorthWest LNG for 1 billion Canadian dollars ($900 million) marks IOC's maiden entry into North America.
The prime minister was seen wearing a light blue "sadri" jacket as he sat in the Rajya Sabha in the morning.
In the semi-finals of the DDA invitation hockey tournament, IOC will play Punjab Police, while Punjab and Sind Bank will meet Army XI.
ONGC Videsh Ltd and Oil India Ltd-Indian Oil Corp combine have won an oil block each in Libya. \n
Indian Oil Corporation sought an increase in prices of petrol, diesel, domestic LPG and PDS kerosene on Tuesday as spiralling global oil prices had put "enormous" burden and may result in a revenue loss of over Rs 8,500 crore (Rs 85 billion) this fiscal. While the government and oil companies were bearing their share of the burden, the consumers have so far been spared from any hike in fuel prices despite crude oil touching a historic high of $93 per barrel.
State fuel retailers IOC, Bharat Petroleum and Hindustan Petroleum sell diesel, domestic LPG and kerosene at government dictated rates which are lower than cost of production.
The International Olympic Committee (IOC) will set up a disciplinary commission to look into the case of South Korean footballer Park Jong-woo, who flashed a political sign at the London Olympics to inflame a diplomatic row with Japan.
They have been named for their stake in the Farsi offshore block.
Olympic gold medallist shooter Abhinav Bindra on Tuesday lashed out at Indian Olympic Association officials for refusing to accept International Olympic Committee's directive to bar chargesheeted persons from contesting elections and asked the world body to stick to its earlier stand.
However, disinvestment secretary Sumit Bose said right now there is nothing on the cards.
Just days before the eight-year deadline expires, the IOC formally stripped American cyclist Tyler Hamilton of his 2004 gold for doping Friday and awarded the medal to a Russian rider who now becomes a three-time Olympic champion.
Amid growing resentment over Dow Chemicals' association with the London Olympics, the IOA's Executive Board decided to write a 'strong' protest letter to the IOC, seeking the removal of the company as a sponsor of the Games next year.
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