A fire broke out at a lubricant-filling depot of state-run Indian Oil Corporation on the outskirts of Mumbai in the wee hours of Tuesdesy but was contained after six hours.
State-owned Indian Oil Corp wants diesel prices to be freed from government control before its twin follow-on public offersto raise maximum funds, company Chairman B M Bansal said on Monday.
IOC has hired six banks, Merrill Lynch, Citigroup and ICICI Securities, to handle the public offer.
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.
State-run Indian Oil Corporationon Tuesday said that it has earmarked $1 billion for the acquisition of good-quality producing or developing E&P assets abroad.
The country's biggest fuel retailer Indian Oil Corporation on Wednesday said it is losing Rs 107 crore (Rs 1.07 billion) a day on selling auto and cooking fuel below cost even as it awaits the government to announce clear compensation package.
Indian Oil Corp, the nation's largest oil firm, will set up a Rs 10,000 crore (Rs 100 billion) nuclear power plant in association with Nuclear Power Corp of India Ltd.
Indian Oil Corporation wants to set up a petrochemical plant in Yemen provided it is allocated a gasfield, a senior company official said on Friday.
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