Articles Tagged "ioc"

IOC’s optics, ONGC’s reality

The government had put in place the existing subsidy burden-sharing regime for the petroleum sector as a strategy to cushion domestic fuel consumers from the impact of rising prices of crude oil in the international market. For full story, click here

IOC wants FMC nod for hedging margins & products

State-run Indian Oil Corporation wants the Forward Markets Commission (FMC) to permit the company to hedge its refinery margins and end products such as petrol and diesel. S V Narasimhan, director (finance), IOC, said: The market has been very unstable in the past few months and thus we are not very aggressive on hedging. We are waiting for [...]

Indian Oil Corporation buys 1st Angola Hungo by tender

India based Indian Oil Corp (IOC) has bought around 2 million barrels of West African crude via its second tender for November, including its first cargo of Angolan Hungo crude. Traders said: It bought a 950,000-barrel cargo of light sweet Nigerian Qua Iboe crude, together with a cargo of medium sweet Hungo, which has a [...]

Indian Oil expects stock loss to be high

S V Narasimhan, Finance Director of Indian Oil Corporation (IOC), was quoted as saying: The stock loss is expected to be quite high. All the gains of the first quarter could be wiped out in this quarter. For more information, click here For IOC’s website, click here

Indian Oil’s net profit dips 71%

Indian Oil Corp (IOC), India’s largest fuel retailer, on Wednesday reported a 71% dip in its Q1 net profit as good refinery margins was not enough to cover the revenue loss on fuel sales. For full news, click here