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).
"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.
Members of the Israeli Olympic team were taken hostage on September 5, 1972 at the athletes' village by Palestinians from the Black September group.
Indian Oil Corporation is India's only Fortune 500 company.
Brisbane becomes the third Australian city to get the Games after Melbourne in 1956 and Sydney in 2000.
Later, authorities can decide whether the complaint is proper or not, Munde told reporters in Maharashtra's Beed district on Wednesday, adding that she expects action to be taken in the present case.
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.
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).
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 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.
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.
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 apex body of petroleum workers in Assam on Thursday said it has stopped transportation of fuel to Meghalaya, following reports of attacks on vehicles from Assam in the backdrop of violence along the inter-state border that left six people dead.
The Sikkim Government has confirmed that 14 people have died so far in the flash floods that occurred in Sikkim in the early hours of Wednesday.
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.
Ace Indian pistol shooter Manu Bhaker on Sunday indicated that not being allowed the freedom to take her personal coach Jaspal Rana in major international competitions could be holding back her performance, and requested the NRAI to resolve the issue.
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.
Mercedes' seven-times world champion Lewis Hamilton, and now-retired four-times champion Sebastian Vettel, have been among those making political statements at races in recent seasons.
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.
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.
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
'Following AIU charges based on LIMS data, Russian athlete Natalia Antyukh has been banned for the use of a Prohibited Substance/Method. DQ results from 15 July 2012 until 29 June 2013.'
Valieva failed the test collected at the Russian national championships on Dec. 25
Indian Oil Corporation and ONGC Videsh Ltd have tied up with BP and Occidental, the global oil majors, to bid for oilfields in Kuwait.
Domestic stock markets would be driven by inflation numbers, global trends, and the last batch of Q4 earnings this week, analysts said. Markets will also react to industrial production data and consumer inflation numbers that were released after market hours on Friday. "Participants will react to macroeconomic data viz. IIP and CPI first, which were released post-market hours on Friday.
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-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
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.
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.
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