Tag: Indian Oil Corporation

IOC buys seven million barrels of U.S., West Asia crude after Russian oil pause

August 4, 2025 admin

India, the world’s third-largest oil importer, is the biggest buyer of seaborne Russian crude. | Photo Credit: Reuters Indian Oil Corporation (IOC), the country’s top refiner, has bought seven million barrels of September-arrival crude from the United States, Canada and West Asia via a tender, several trade sources said on Monday (August 4, 2025). IOC’s…

Business

Indian state refiners pause Russian oil purchases, sources say amid Trump’s tariffs

August 1, 2025 admin

Image used for representation purpose only. Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd — have not sought Russian crude in the past week or so | Photo Credit: Reuters Indian state refiners have stopped buying Russian oil in the past week as discounts narrowed this month and U.S….

Business

Huge Explosion At Indian Oil Refinery Shakes Homes In Gujarat’s Vadodara

November 11, 2024 admin

Visuals showed smoke billowing out of the refinery. A fire broke out at the Indian Oil Corporation refinery in Gujarat’s Vadodara today. The blaze started at plant number A-1, A-2 and a boiler around 2 pm. The boiler exploded with a loud sound and the fire spread to the storage tanker as well. A siren…

Nation

Oil firms hike commission paid to dealers, no rise in fuel prices

October 29, 2024 admin

Image used for representation only. | Photo Credit: Murali Kumar K State-owned fuel retailers on Tuesday hiked commission paid to petrol pump dealers but there will be no change in retail petrol and diesel prices. Petrol and diesel prices will fall in Odisha, Chhattisgarh, and Himachal Pradesh due to a rationalisation of intra-state freight. “IndianOil…

Business

State-owned Indian Oil Corporation reports massive 98.6% drop in net profit

October 28, 2024 admin

Indian Oil Corporation Ltd (IOC) reported a massive 98.6% drop in net profit in the September quarter, as refinery margins fell and marketing margins shrunk. | Photo Credit: G.N. Rao State-owned Indian Oil Corporation Ltd (IOC) on Monday (October 28, 2024) reported a massive 98.6% drop in net profit in the September quarter, as refinery…

Business

IOC targets USD 1 trillion revenue by 2047: Chairman

July 21, 2024 admin

Indian Oil Corporation, the nation’s largest oil firm, is targeting to become a $1 trillion company by 2047, combining growth in traditional oil refining and fuel marketing with clean energy avenues like green hydrogen and EV charging, its chairman said. Indian Oil Corporation (IOC) posted a record net profit of ₹39,619 crore ($4.7 billion) on…

Business

IOC, BPCL, HPCL post ₹69,000 crore net profit in April-December, higher than pre-oil crisis annual earnings

February 5, 2024 admin

BPCL posted a net profit of ₹22,449.32 crore in the 9-month period of current fiscal as compared to a loss of ₹4,607.64 crore in the same period last year. | Photo Credit: The Hindu State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) reported bumper profit…

Business