Indian Oil Corporation Company News
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Sources: India's IOC Buys New US Crude Grades For December Delivery
Tuesday, October 10, 2017 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.
Saudi Aramco Plans 'Mega Investment' in World's Top Oil Guzzler
Monday, October 09, 2017 The oil industry is pinning its hopes on India and China, together home to four of every 10 people in the world.
Indian Oil Plans $2.4B Expansion Of Gujarat Refinery
Friday, August 04, 2017 Indian Oil Corp will spend $2.4 billion to increase capacity at its refinery in western India by about a third .
Indian Oil, Partners Look For Cheaper Site For Pacific NorthWest Terminal
Thursday, August 03, 2017 Indian Oil Corp says it is in talks with its partners to scout for an alternative, cheaper site for the Pacific Northwest LNG terminal.
Indian Oil Corp Aims To Source A Tenth Of Oil Needs From Own Assets
Wednesday, August 02, 2017 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.
Top Oil Market Summons Poseidon to US-Mideast Crude Fight
Tuesday, July 18, 2017 Poseidon is the latest grade similar in quality to Middle East supply to lure a buyer in the world's biggest oil consuming region.
India Wants $300 Billion in Oil Spending to Meet Growing Demand
Wednesday, July 12, 2017 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.
Oil Purchases by Top Indian Refiner Show Where Market Glut Bites
Monday, May 08, 2017 The global oil market glut is helping India's biggest crude processor become nimble.
India's Top Refiner in Early Talks with Aramco for Downstream Project
Monday, May 08, 2017 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.
PETRONAS $8.5B Canada Gas Plan Buoyed By Aboriginal Vote
Monday, August 29, 2016 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.
India Seeking Merger Model For Possible State Oil Champion
Tuesday, August 02, 2016 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.
PETRONAS LNG Bid Faces 90-Day Wait As Clock Ticks For Trudeau
Tuesday, June 28, 2016 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.
Amec FW Secures Contract for LNG Terminal Project in Ennore, Tamil Nadu
Tuesday, June 07, 2016 Amec Foster Wheeler secures contract for a liquefied natural gas terminal project in Ennore, Tamil Nadu, India from Indian Oil LNG.
India, Iran Plan to Seal Deal to Develop Offshore Farzad B Field by October
Monday, June 06, 2016 India expects to finalize contract with Iran to develop the Farzad B gas field in the Persian Gulf by October.
India Echoing Pre-Boom China As New Center Of Oil Demand Growth
Friday, April 08, 2016 In the energy world, India is becoming the new China.
World's Biggest Oil Market Too Tied To Mideast To End Addiction
Thursday, March 31, 2016 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.
Canadian Agency Extends Application For Petronas LNG Project
Monday, March 21, 2016 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.
Minister Said To Refer PETRONAS Gas Project To Trudeau Cabinet
Wednesday, March 16, 2016 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.
Indian Oil Corp. to Spend $5B Over Next 5-7 Years to Expand E&P Business
Tuesday, October 13, 2015 Indian Oil Corp. plans to spend $5 billion over the next 5 to 7 years to expand its exploration and production business.
India ONGC Submits Revised Development Plan for Iran Gas Field
Monday, August 24, 2015 India's ONGC Videsh submits a revised proposal seeking the development rights of Iran's giant gas field Farzad B.
India To Raise $1.4B From Top Oil Refiner Stake Sale
Monday, August 24, 2015 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.
India to Sell $1.5B of Indian Oil Shares on Monday
Friday, August 21, 2015 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.
India's Oil Addiction to Vault Nation Into Top 3 Global Guzzlers
Thursday, June 04, 2015 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.
India's IOC to Acquire 10% Stake in Petronas' Canadian LNG Export Project
Monday, March 10, 2014 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.
India Cbank Opens Forex Swap Window for State Oil Retailers
Wednesday, August 28, 2013 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.
India's IOC to Start Work on its 1st LNG Terminal by End-2013
Wednesday, August 14, 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.
India State Cos Acquire 30% Stake in Carrizo's Shale Asset
Thursday, October 04, 2012 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.
Indian Consortium Bids for ConocoPhillips Assets in Canada
Monday, September 24, 2012 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.
India Gives Thumbs Up for $2B Carabobo Oil Investment
Friday, March 19, 2010 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.
OVL Consortium to Develop Heavy Oil Blocks in Orinoco Belt
Thursday, February 11, 2010 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.
India Finalizes Farsi Gas Block Development Plan with Iran
Thursday, December 03, 2009 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.
Iran Offers India 40% Stake in South Pars
Tuesday, December 01, 2009 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.
India Cos Unlikely to Produce Oil from Iran Block
Tuesday, September 15, 2009 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.
Indian Oil Cos Could Invest $5B in Iran Gas Field Devt
Monday, September 07, 2009 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.
India's Oil Cos Propose $5B Investment in Iranian Gas Block
Thursday, June 25, 2009 India's state-controlled oil companies are proposing to invest some $5 billion in a gas discovery located in Iran's Farsi Block.
Indian Consortium Keen on Orinoco Block in Venezuela
Thursday, April 09, 2009 Four Indian energy firms are considering a joint bid to acquire a minority stake in one of the Orinoco blocks that Venezuela is offering to foreign investors.
Big Oil Leaders Bet on Long-Term Energy Growth
Wednesday, February 11, 2009 Touting an optimistic message, some Big Oil executives insist that long-term growth in energy demand remains unchanged.
ONGC, IOC Ink MOU to Cooperate in O&G Exploration and Production
Friday, December 12, 2008 ONGC and IOC signed a MOU at New Delhi for mutual cooperation in the field of oil and gas exploration, production and marketing.
NOC Signs Exploration and Production Sharing Agreement in Libya
Tuesday, May 27, 2008 The National Oil Corporation signed an Exploration and Production Sharing Agreement with a Consortium, including Sonatrach, Oil India and Indian Oil.
India to Issue $2.3 Billion in Bonds to Oil Companies
Friday, March 28, 2008 India's federal government Friday said it will issue INR92.97 billion ($2.3 billion) worth of special bonds to state-run oil marketing companies to compensate them for selling fuel at discounted prices.
IOC, Oil India Join Hands with Algerian, Explore Libyan Block
Wednesday, January 23, 2008 Indian Oil Corporation Ltd (IOC) and Oil India Ltd (OIL) have joined hands with Sonatrach, the national oil company of Algeria, for production of oil in a Libyan onshore block.
India's State-Run Oil Co Execs to Strike from Tuesday
Monday, August 20, 2007 Executives of some Indian state-run oil companies will go on an indefinite strike from Tuesday for higher wages among other things, officials of the executives' union said Monday.
ONGC Videsh Consortium Finds Oil, Gas Offshore Iran
Wednesday, May 09, 2007 A consortium led by India's ONGC Videsh Ltd. has recently struck oil and gas offshore Iran in what could be India's biggest hydrocarbon gas find overseas in recent years.
Eni, Calik Sign Deal with IOCL for Possible Partnership
Thursday, November 02, 2006 Eni and Calik signed an agreement with Indian Oil Company Limited (IOCL) regarding its possible participation in the Turkish Straits bypass project along the Samsun-Ceyhan route.
India's Government Braces for Oil Executives' Strike
Friday, September 01, 2006 The Indian government Friday said it is preparing a contingency plan to prevent a total shutdown of oil production and refining operations following a threat from executives at state-run firms to go on an indefinite strike from Tuesday.
ONGC Videsh & IOC-OIL to Bid in Nigeria's Licensing Round
Wednesday, June 08, 2005 ONGC Videsh Ltd. and the Indian Oil Corp.-Oil India Ltd. consortium will bid for four or five blocks in Nigeria's upcoming upstream round.
Indian Oil Corp. Bids for Two Blocks in Myanmar
Friday, February 25, 2005 Indian Oil Corp and its exploration partner Oil India Ltd plan to bid for two onshore oil and gas exploration blocks in Myanmar.
IOC to Acquire Stake in Two Fields from Hindustan Oil
Friday, August 27, 2004 IOC has decided to acquire a stake in HOEC's two oil and gas fields in offshore Tamil Nadu for approximately $112 million.
Indian Oil Corp to Acquire Stake in Two Offshore Fields
Friday, July 30, 2004 Indian Oil Corporation, the country's largest refiner, will buy half of Hindustan Oil Exploration Co Ltd's stake in two oil and gas fields in offshore Tamil Nadu for $104.15 million.
ONGC Videsh Begins Survey in Farsi Block Offshore Iran
Tuesday, March 02, 2004 Fugro's seismic ship, GeoBaltic, recently sailed from Sharjah port to the Farsi block offshore Iran to begin seismic data acquisition work.