New Delhi, Sept. 5: State-owned refiner Indian Oil Corporation plans to add 24 million tonnes per annum (mtpa) to its refining capacity by 2022 at an investment of about Rs 40,000 crore.

The expansion will help the PSU to garner additional foreign exchange through export of petroleum products and meet the growing energy demands of the country.

Indian Oil Corporation (IOC) has submitted its bid to enter fuel marketing and retail business in Myanmar.

The state-run firm currently has marketing subsidiaries in Sri Lanka, Mauritius and West Asia. IOC, as part of its overseas expansion, is set to come up with its first international product pipeline to Nepal.

Indian Oil Corp (IOC) will continue importing at least two liquefied natural gas (LNG) cargoes a month after the expansion of the Dahej import terminal on India's west coast, a top company executive said.

Terminal operator Petronet, which is also India's biggest single LNG importer, expanded the Dahej plant's import capacity by 50 per cent to 15 million tonnes a year.

New Delhi, Aug. 29: State-owned Indian Oil Corporation (IOC) today announced bonus shares in the ratio of 1:1 as its first-quarter net profit jumped 25 per cent to Rs 8,268.98 crore.

The board of directors has approved the bonus share, which means the company will issue one equity share of Rs 10 each for every fully-paid up share of Rs 10 each, subject to the approval of the shareholders.

State-owned Indian Oil Corp (IOC) on Monday reported a 25 per cent jump in first quarter net profit, as it also declared a 1:1 bonus share.

Net profit of Rs 8,268.98 crore, or Rs 34.90 a share, in April-June was 25.46 per cent higher than Rs 6,590.83 crore, or Rs 27.81 per share, net profit in the same period a year ago, the company said in a regulatory filing.

National Mission for Clean Ganga (NMCG) has signed an MoU with Indian Oil Corporation Ltd (IOCL) as per which IOCL will use treated water from a new sewage treatment plant (STP) in its Mathura refinery.

The construction work for the new STP in Mathura began on August 17, 2016. The treated water from this STP will be used by industries in the neighbouring areas. The 20 million litre per day (MLD) STP in Vrindavan will be built at a cost of Rs 40 crore.

Shares of oil marketing companies (OMCs) are on a roll with all three listed firms – Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) – closing at their respective lifetime highs on the Bombay Stock Exchange (BSE) on Tuesday. These stocks closed higher between 3%-5%, as compared to 0.15% rise in the S&P BSE Sensex today.

The three 'Maharatna' public sector utilities (PSUs), NTPC, Coal India and Indian Oil, would form a special purpose vehicle (SPV) to revive three fertiliser units in UP, the Union Cabinet approved today.

These include two closed urea units of Fertilizer Corporation India (FCIL) at Sindri (Jharkhand) and Gorakhpur (Uttar Pradesh) and Barauni (Bihar) unit of Hindustan Fertilizers (HFCL).

Mumbai: Indian Oil Corp. Ltd (IOCL), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL) may jointly hold a 51% stake in a large refinery and petrochemical complex proposed to come up in coastal Maharashtra, two people familiar with the development said.

The state government and a strategic investor who is yet to be brought in will hold the rest.

Mumbai: Petrochemical and gas marketing is the next big bet IndianOil Corp. Ltd (IOCL) is taking in a bid to expand its business beyond the core of refining and marketing.

“We are bullish on our new businesses, that is, petrochemicals and gas marketing. There is tremendous demand for petrochemicals, where we are now the second largest player in India,” said B. Ashok, Chairman, IOCL.

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