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Indian Oil Corporation Limited (IOC.NS)
- Reuters
Indian Oil Corp swings to Q1 profit on higher marketing margins
BENGALURU (Reuters) -Indian Oil Corp Ltd (IOC) reported a first-quarter profit on Friday, as the country's top refiner benefited from higher fuel sales and marketing margins. The state-owned company's net profit was 137.50 billion rupees ($1.67 billion) for the quarter ended June 30, compared with a loss of 19.93 billion rupees, a year earlier. The company said its gross refining margin, or profit from converting a barrel of oil into refined products, was $8.34 per barrel in the first quarter, compared with $31.81 per barrel a year earlier.
- Reuters
UAE'S ADNOC Gas agrees $7 billion-$9 billion 14-year LNG agreement with Indian Oil Corp -statement
Abu Dhabi's ADNOC Gas on Tuesday announced a 14-year $7 billion-$9 billion deal with Indian Oil Corp to supply 1.2 million metric tonnes of liquefied natural gas (LNG) per year, ADNOC said in a statement. The deal was signed during Prime Minister Narendra Modi's Visit to the United Arab Emirates (UAE) last week, IOC said in a statement issued on Monday, adding that India's trade treaty with the UAE enables it to import LNG without paying a 2.5% import tax.
- Reuters
Indian Oil signs long term LNG import deals with ADNOC LNG, TotalEnergies
Indian Oil Corp, the country's top refiner, has signed long-term liquefied natural gas (LNG) import deals with United Arab Emirates' s Abu Dhabi Gas Liquefaction Co Ltd (ADNOC LNG) and France's TotalEnergies. The two deals were signed during Prime Minister Narendra Modi's Visit to France and UAE last week. Supplies under the two deals would commence from 2026, the Indian company said in two separate statements.
