IOC to invest Rs 7,000 crore in city gas after it secures 33% market areas
NEW DELHI: Indian Oil Corporation (IOC), the nation’s largest oil firm, on Sunday said it will invest over Rs 7,000 crore in setting up city gas distribution networks in the cities for which it has secured a licence in the latest bidding round. IOC secured 33 per cent of the demand potential that was up […]
IOC Q2 net profit soars 10-fold to Rs 6,227 crore
NEW DELHI: India’s top oil firm Indian Oil Corporation (IOC) on Friday reported a 10-fold jump in its September quarter on the back of inventory gains and better margins. The company reported a standalone net profit of Rs 6,227.31 crore, or Rs 6.78 per share, in the July-September quarter, as compared to ₹563.42 crore net […]
RIL topples IOC to become the biggest Indian company in revenue terms
NEW DELHI: Richest Indian Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries Limited (RIL) has toppled state-owned Indian Oil Corp (IOC) to become the country’s biggest company by revenue. Reliance in the 2018-19 fiscal year that ended March 31, reported a turnover of Rs 6.23 trillion. In comparison, IOC posted a turnover of Rs 6.17 trillion for […]
IOC studying if Iran’s investment in Chennai refinery violates US sanctions
NEW DELHI: India’s top refiner Indian Oil Corp (IOC) will evaluate the implications of US sanctions if Iran was to invest in its subsidiary Chennai refinery’s Rs 35,700 crore expansion, its Chairman Sanjiv Singh said. IOC plans to pull down the 1 million tonnes per year Nagapattinam refinery of its subsidiary Chennai Petroleum Corp Ltd […]
IOC to invest Rs 5,463 crore in city gas network in 7 districts
NEW DELHI: State-owned Indian Oil Corp (IOC) on Thursday said it will invest Rs 5,463 crore in setting up city gas distribution network for retailing CNG to automobiles and piped cooking gas to households in seven districts. IOC had in the recently concluded 9th bid round for city gas licences won permits for seven cities […]