Indian Oil Corporation Company News

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Indian Refiners to Import More Oil from USA
Indian state-run refiners reportedly will cut purchases of Saudi crude and buy more from the U.S. on the spot market.
8:00 PM EST | March 16, 2021
Index Shows Oil Demand Recovery from November Trough
Global oil demand is rebounding after hitting a trough last month, according to an index compiled by Bloomberg.
7:00 PM EST | December 10, 2020
New Breed of Refineries Emerging in Asia
As the age of the hydrocarbon enters its final era, the action increasingly moves to Asia and plastics take center stage.
8:00 PM EST | August 25, 2020
Refiners Fight Virus with Drones
India's energy companies are coming up with novel solutions to keep the virus at bay and their operations running.
8:00 PM EST | August 15, 2020
A 12,000-Mile Trip May Be Null Due to Iran Oil Sanctions
More than two months and 12,000 miles ago, the tanker Da Yuan Hu left Singapore and headed to Mexico to pick up a shipment of crude oil. Its long quest could be in jeopardy.
8:00 PM EST | September 25, 2019
LNG Import Growth Underway in India
The commissioning of India's first east coast regas terminal signals a period of rapid growth.
7:00 PM EST | March 06, 2019
How Venezuela's Last Oil Buyers May React to Sanctions
After the US slapped sanctions on PDVSA, the market has focused on how the remaining buyers of the South American country's heavy, low-quality crude will react.
7:00 PM EST | January 28, 2019
India Said to Nix Iranian Oil Imports
India is not planning to buy any crude oil from Iran in November, raising the prospect that Tehran will lose another major customer as U.S. sanctions hit.
8:00 PM EST | September 24, 2018
Indian Oil To Turn To Traditional Suppliers To Meet Iran Oil Shortfall
IOC will turn to its traditional oil suppliers if US sanctions against Iran result in supply disruptions, its head of finance says.
8:00 PM EST | May 21, 2018
Top India Refiner Is Said to Invest $3.5B to Expand
India's biggest oil refiner Indian Oil Corp. is planning to invest as much as $3.5 billion in the year beginning April 1.
8:00 PM EST | March 21, 2018
Top Indian Refiner Eyes $1.5 Billion Savings With Own Plant Tech
India's biggest oil refiner has developed refining processes that may help it save at least $1.5 billion in costs.
8:00 PM EST | March 13, 2018
Indian Oil To Boost Panipat Refinery Capacity By Two Thirds
Indian Oil Corp Ltd plans to increase the capacity of its Panipat refinery by two thirds to 500,000 bpd.
7:00 PM EST | January 30, 2018
India's IOC 3Q Profit Beats Estimates On Higher Inventory Gains
Indian Oil Corp says its third-quarter profit nearly doubled, handily beating estimates.
7:00 PM EST | January 29, 2018
Indian Refiners Turn To Use Dirty Fuel To Produce Power, Gas
Indian oil refiners are drawing up plans to use petroleum coke for power generation and to produce syngas.
7:00 PM EST | December 04, 2017
Indian Oil Aims For LNG Import Capacity Of 13.5 Million Tonnes In 5 Years
Indian Oil Corp Ltd aims to have capacity to import about 13.5 million tonnes of LNG in five years.
8:00 PM EST | October 26, 2017
Sources: India's IOC Buys New US Crude Grades For December Delivery
Indian Oil Corp buys two new types of US crude for December delivery as it tests different grades from the United States, trade sources say.
8:00 PM EST | October 09, 2017
Saudi Aramco Plans 'Mega Investment' in World's Top Oil Guzzler
The oil industry is pinning its hopes on India and China, together home to four of every 10 people in the world.
8:00 PM EST | October 08, 2017
Indian Oil Plans $2.4B Expansion Of Gujarat Refinery
Indian Oil Corp will spend $2.4 billion to increase capacity at its refinery in western India by about a third .
8:00 PM EST | August 03, 2017
Indian Oil, Partners Look For Cheaper Site For Pacific NorthWest Terminal
Indian Oil Corp says it is in talks with its partners to scout for an alternative, cheaper site for the Pacific Northwest LNG terminal.
8:00 PM EST | August 02, 2017
Indian Oil Corp Aims To Source A Tenth Of Oil Needs From Own Assets
Indian Oil Corp wants to supply at least 10% of its expanding refining capacity from its own oil and gas assets in the medium term.
8:00 PM EST | August 01, 2017
Top Oil Market Summons Poseidon to US-Mideast Crude Fight
Poseidon is the latest grade similar in quality to Middle East supply to lure a buyer in the world's biggest oil consuming region.
8:00 PM EST | July 17, 2017
India Wants $300 Billion in Oil Spending to Meet Growing Demand
India needs investments to boost the production of natural gas and crude oil, and to refine, transport and distribute the fuel to households, Oil Minister Dharmendra Pradhan said.
8:00 PM EST | July 11, 2017
Oil Purchases by Top Indian Refiner Show Where Market Glut Bites
The global oil market glut is helping India's biggest crude processor become nimble.
8:00 PM EST | May 07, 2017
India's Top Refiner in Early Talks with Aramco for Downstream Project
India, the world's third biggest oil consumer, plans to build a 1.2 million bpd refinery to petrochemical project in the country's west coast to feed its growing fuel demand.
8:00 PM EST | May 07, 2017
PETRONAS $8.5B Canada Gas Plan Buoyed By Aboriginal Vote
PETRONAS' proposed $8.5 billion liquefied natural gas export plant in Canada is getting a boost as an aboriginal community signals openness to the project amid speculation that the location may be changed.
8:00 PM EST | August 28, 2016
India Seeking Merger Model For Possible State Oil Champion
India is open to discussing a merger of some of its state-run oil producers and refiners to create a larger, stronger national firm, according to the country's oil minister.
8:00 PM EST | August 01, 2016
PETRONAS LNG Bid Faces 90-Day Wait As Clock Ticks For Trudeau
A three-month clock has just started ticking for Canadian Prime Minister Justin Trudeau to decide whether to allow Malaysia's Petroliam Nasional Bhd to build an ambitious liquefied natural gas project.
8:00 PM EST | June 27, 2016
Amec FW Secures Contract for LNG Terminal Project in Ennore, Tamil Nadu
Amec Foster Wheeler secures contract for a liquefied natural gas terminal project in Ennore, Tamil Nadu, India from Indian Oil LNG.
8:00 PM EST | June 06, 2016
India, Iran Plan to Seal Deal to Develop Offshore Farzad B Field by October
India expects to finalize contract with Iran to develop the Farzad B gas field in the Persian Gulf by October.
8:00 PM EST | June 05, 2016
India Echoing Pre-Boom China As New Center Of Oil Demand Growth
In the energy world, India is becoming the new China.
8:00 PM EST | April 07, 2016
World's Biggest Oil Market Too Tied To Mideast To End Addiction
Even in a world awash with crude, buyers in the world's biggest oil market can't seem to escape their addiction to Middle East supplies.
8:00 PM EST | March 30, 2016
Canadian Agency Extends Application For Petronas LNG Project
Canadian regulators extended by three months PETRONAS' application to build a liquefied natural gas terminal on the nation's Pacific coast so the Malaysian company can provide more information about the project's environmental impacts.
8:00 PM EST | March 20, 2016
Minister Said To Refer PETRONAS Gas Project To Trudeau Cabinet
PETRONAS' proposal to build a LNG terminal on Canada's Pacific Coast faces further delay as the minister responsible prepares to declare it will likely have a significant environmental impact, according to people familiar with the matter.
8:00 PM EST | March 15, 2016
Indian Oil Corp. to Spend $5B Over Next 5-7 Years to Expand E&P Business
Indian Oil Corp. plans to spend $5 billion over the next 5 to 7 years to expand its exploration and production business.
8:00 PM EST | October 12, 2015
India ONGC Submits Revised Development Plan for Iran Gas Field
India's ONGC Videsh submits a revised proposal seeking the development rights of Iran's giant gas field Farzad B.
8:00 PM EST | August 23, 2015
India To Raise $1.4B From Top Oil Refiner Stake Sale
India will raise about 93.79 billion rupees ($1.4 billion) from selling a stake in state-run refiner and fuel retailer Indian Oil Corp, the government says.
8:00 PM EST | August 23, 2015
India to Sell $1.5B of Indian Oil Shares on Monday
India's government says it plans to sell a 10-percent stake in top state-run refiner Indian Oil Corporation via a stock market auction on Monday.
8:00 PM EST | August 20, 2015
India's Oil Addiction to Vault Nation Into Top 3 Global Guzzlers
India’s growing middle class will soon make it the third-biggest oil consumer, reshaping the global energy map as China uses less and the U.S. produces more.
8:00 PM EST | June 03, 2015
India's IOC to Acquire 10% Stake in Petronas' Canadian LNG Export Project
Indian Oil Corp. agrees to acquire a 10 percent stake in Progress Energy's natural gas reserves in northeast British Columbia, Canada and in the proposed Pacific Northwest LNG export facility on the country's West Coast.
8:00 PM EST | March 09, 2014
India Cbank Opens Forex Swap Window for State Oil Retailers
The Reserve Bank of India has decided to open a forex swap window to meet the daily dollar requirements of three state-run oil marketing companies.
8:00 PM EST | August 27, 2013
India's IOC to Start Work on its 1st LNG Terminal by End-2013
Indian Oil Corp will start work on its first liquefied natural gas (LNG) plant at Ennore in the east coast of India by the end of this year.
8:00 PM EST | August 13, 2013
India State Cos Acquire 30% Stake in Carrizo's Shale Asset
Oil India Ltd. and Indian Oil Corp. said they will acquire a 30% stake in Carrizo's Niobrara shale oil acreage in Colorado, gaining entry to America's booming shale industry.
8:00 PM EST | October 03, 2012
Indian Consortium Bids for ConocoPhillips Assets in Canada
A consortium of India's state-run companies have jointly bid to acquire stakes in oil-sands assets owned by ConocoPhillips in Canada that are valued around $5B.
8:00 PM EST | September 23, 2012
India Gives Thumbs Up for $2B Carabobo Oil Investment
The Indian government Friday approved an investment of $2.18 billion during 2010-2015 by three state-run oil companies in Venezuela's Carabobo 1 oil block.
8:00 PM EST | March 18, 2010
OVL Consortium to Develop Heavy Oil Blocks in Orinoco Belt
An OVL-led consortium was awarded a 40% ownership interest in a Mixed Company that will develop the Carabobo 1 Norte and Carabobo 1 Centro blocks located in the Orinoco Heavy Oil Belt.
7:00 PM EST | February 10, 2010
India Finalizes Farsi Gas Block Development Plan with Iran
The Indian government is in the process of finalizing the master development plan with National Iranian Oil Co. for the Farzad-B gas field, according to junior petroleum minister Jitin Prasada.
7:00 PM EST | December 02, 2009
Iran Offers India 40% Stake in South Pars
National Iranian Oil Co. has offered India a 40% interest in phase 12 of the South Pars gas field and 6 million metric tons of liquefied natural gas a year.
7:00 PM EST | November 30, 2009
India Cos Unlikely to Produce Oil from Iran Block
According to a senior executive, India's state-run oil companies will likely not produce any oil from Iran's Farsi block due to the low value of high-sulfur crude and low returns on investment, but natural gas resources could be developed.
8:00 PM EST | September 14, 2009
Indian Oil Cos Could Invest $5B in Iran Gas Field Devt
ONGC Videsh and its partners Indian Oil and Oil India could invest $5 billion to develop a massive gas field they discovered in offshore Iran.
8:00 PM EST | September 06, 2009
India's Oil Cos Propose $5B Investment in Iranian Gas Block
India's state-controlled oil companies are proposing to invest some $5 billion in a gas discovery located in Iran's Farsi Block.
8:00 PM EST | June 24, 2009