IOC through its 11 refineries controls about a third of India’s 5 million-barrel-per-day (bpd) refining capacity.
Indian Oil Corp plans to invest 2 trillion rupees in five-seven years to meet energy needs of diverse user groups, Chairman Sanjiv Singh told at a shareholders meeting.
Indian Oil Corp, the Indian nation’s largest oil company, plans to invest Rs 20,000 crore in city gas distribution projects in next 5-8 years as it bets big on gas business to complement its traditional oil refining and marketing business.
Indian Oil Corp, BPCL, HPCL forms Joint Venture to build World’s longest LPG pipeline worth Rs 10,000 crore
India has a plan to achieve Prime Minister Narendra Modi’s goal of reducing the country’s dependence on energy imports, and it starts in the kitchen. Indian Oil Corp., the largest buyer of Iranian crude in India, will look to buy more barrels from Saudi Arabia, the US, Kuwait, the United Arab Emirates and Mexico to replace Iranian imports, senior IOC officials said in a press release. India’s flagship state-run refiner, has put in place “a robust sourcing plan” to replace Iranian volumes after the US lifted sanction waivers on key customer of Iran’s oil last month, Chairman Sanjiv Singh said. “We have optional volumes to buy from a number of our long-term suppliers.”
Indian Oil Corp sets up trading desk to buy Crude Oil on real-time basis in New Delhi
Indian Oil Corp to invest Rs 170 billion in Odisha petrochem projects
1) The Indian Oil Corporation Ltd (IOCL) will invest about Rs 170 billion in three petrochemical projects in Odisha to produce polyester fibre to be used as feedstock in a textile park in the state.
2) The IOCL plans to set up PTA (Purified Terephthalic Acid) and MEG (Monoethylene Glycol) plants within its refinery complex at Paradip, Union minister for Petroleum and Natural Gas and Skill Development Dharmendra Pradhan said at an investors’ conclave in Surat.
IOC through its 11 refineries controls about a third of India’s 5 million-barrel-per-day (bpd) refining capacity.Singh said the investment was required to help IOC “evolve into a future ready corporate that provides comprehensive energy solutions to diverse user groups”.
Reliance becomes Biggest Indian Company by overtaking Indian Oil Corporation
Three main state-run fuel retailers — Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. — are looking to turn used cooking oil that might otherwise be discarded into biodiesel fuels. The retailers are seeking leftover cooking oils from bulk consumers such as hotels, restaurant and canteens across 100 cities, Oil Minister Dharmendra Pradhan said in New Delhi on World Biofuels Day.