Indian Oil‘s profit doubles to Rs 4,917 crore in third quarter: new Rs 31,500 crore refinery set for Tamil Nadu

IndianOilLogo800x600.jpg

Indian Oil Corporation (IOC) reported a net profit of `4,916.6 crore on a standalone basis for the quarter ended December 31, recording a 110% rise from the same period a year ago. The state-run oil refining and marketing company attributed the increase in profit to inventory gains, stemming from fluctuations in global oil prices and rising […]

Read more

Rise in fuel sales towards the last few months in 2020 indicates economic recovery: Indian Oil

IMG_0733.jpg

Despite disruptions in commercial activities due to the COVID-19 crisis, sales of motor spirit and diesel have increased during 2020, which indicates a revival of the economy, Indian Oil Corporation (IOC) said last week. During 2020, sales of motor spirit have increased by 108 per cent and diesel by 96 per cent over the previous year, […]

Read more

ONGC opens 8th hydrocarbon producing basin of India in West Bengal after 60 years

Gazprom-2-oil-rig.jpg

State-owned Oil and Natural Gas Corporation (ONGC) opened India’s eighth hydrocarbon producing basin when it started oil flow from a well in the Bengal basin. Oil production commenced from the well Asokenagar-1 in 24 Pargana district, the company said in a statement. “The well Asokenagar-1 was completed as an oil producer under early-monetisation plan issued by the […]

Read more

ADB allocates $ 2.5 million for advanced biofuel development in India

IMG_0733.jpg

Multilateral lending agency Asian Development Bank (ADB) has approved a $ 2.5 million (about Rs 18 crore) technical assistance to support advanced biofuel development in India. The grant is funded from the Asia Clean Energy Fund, financed by the Government of Japan under the Clean Energy Financing Partnership Facility, and the Republic of Korea’s e-Asia […]

Read more