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
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.
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.
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.
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 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.
The legendary PT Usha will be officially elected as the first woman president of Indian Olympic Association (IOA) during the governing body's polls on Saturday, ushering in a new era in country's sports administration.
Richardson was banned last year for a month for testing positive for cannabis
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.
Veteran sports administrator Narinder Batra's former office at the Indian Olympic Association headquarters and the Hockey India office in New Delhi were on Monday raided by CBI officials.
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 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.
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.
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
FIDE said it will do its utmost to find another organiser for the Olympiad and will provide more information in due time.
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.
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.
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.
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.
.jpg)
Athletes at the Winter Olympics in Sochi may be punished for making statements on the podium against Russia's anti-gay laws or human rights record but can do so at news conferences without fear of sanction, the IOC said.
'On the other side, we have an ideology of hatred and violence, a disrespectful ideology that attacks people because of their ideas. And you must have noticed one thing that this is in the nature of BJP and the RSS'
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.
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.
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.
'Equal treatment for female athletes requires the IBSF and IOC to allocate the same number of sled spots to women bobsledders as men'
SAARC nations, including Bangladesh, Pakistan, Sri Lanka and Nepal are projected to have a fuel deficit of 17.05 million tons by 2015 and 20.85 million tons by the year 2020. IOC has said if the SAARC countries accept a long-term tie up with IOC for the supply of petroleum products, it can suitably expand some of its existing refineries to meet their requirement on mutually agreed terms based on international prices.
Kamila Valieva failed a drug test for a banned substance before the Games.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances