|Bid||127.90 x 0|
|Ask||128.20 x 0|
|Day's Range||125.40 - 128.70|
|52 Week Range||105.65 - 170.40|
|Beta (3Y Monthly)||0.59|
|PE Ratio (TTM)||8.59|
|Forward Dividend & Yield||2.50 (2.00%)|
|1y Target Est||214.41|
Saudi Aramco has offered Indian Oil Corp Arab Heavy crude oil instead of Arab Light following an attack on its oil facilities over the weekend, an industry source told Reuters on Tuesday. IOC will receive full allocated volumes from Saudi Aramco in September and October, the source said, declining to be named as he was not authorised to speak with the media. This indicates that Saudi is offering heavy grade instead of light as Arab Mix is a combination of Arab light and heavy.
Indian Oil Corp's Gujarat oil refinery will be ready to produce 700,000 tonnes per year of low-sulphur marine fuel starting in October, the company's Director for Refineries S.M. Vaidya said on Tuesday. IOC's Haldia refinery will start in December to produce 300,000 tonnes per year of marine fuels that meet the new low-sulphur specifications, Vaidya said during a speech at the Asia Pacific Petroleum Conference. India's marine fuel demand is about 1 million tonnes per year, he said.
Jet fuel supply to state-run carrier Air India has been stopped at six domestic airports because of unpaid dues to fuel provider, Indian Oil Corp (IOCL), three sources said on Thursday. "Jet fuel supply to Air India has been stopped for commercial reasons at six airports," a source at Indian Oil Corp told Reuters. India, for years, has propped up the debt-laden airline by infusing equity to keep it alive - the government injected 39.75 billion rupees ($553 million) into Air India in the fiscal year that ended on March 31.
Indian Oil Corp sold a naphtha cargo last Thursday, bringing its total August exports to 97,000 tonnes, the highest monthly volume from the port of Chennai since 2015, three industry sources said on Tuesday. IOC sold the 35,000-tonne naphtha cargo for Aug. 28-30 loading from Chennai to commodity trader Trafigura at a premium of about $17 a tonne to its own price formula on a free-on-board (FOB) basis after extending the validity of the sales tender by a day, the sources said.
Natural gas output was 1.6% lower at 2.64 billion cubic metres during the same period, the data showed. Indian refiners processed 20.30 million tonnes of crude oil in June, the lowest since February. Among the key refineries affected by shutdowns in June were Reliance's 330,000 barrels-per-day (bpd) Jamnagar refinery and Indian Oil Corp's 120,000 bpd Barauni refinery.
Indian Oil Corp has issued a tender for short-term commercial lease of its liquefied natural gas (LNG) storage tank at Ennore terminal near Chennai, according to a notice posted on the company website. The Ennore terminal is owned by IndianOil LNG, a joint venture of IOC, private equity fund IDFC Alternatives and ICICI Bank, according to IndianOil LNG's website.
Saudi Aramco will supply state-run Indian Oil Corp Ltd (IOC) an extra 2 million barrels of crude a month from July to December, an IOC executive said on Friday, as New Delhi seeks to make up for a loss in supplies from Iran. Saudi Arabia approached Indian buyers last month offering them additional supplies to compensate for lost Iranian oil after U.S. sanctions kicked in. The United States, which imposed new sanctions on Iran in November, initially gave Indian and seven other buyers a six-month waiver to allow them to continue importing Iranian oil.
Indian Oil Corp, the country's top refiner, plans to shut units in phases at its northeast plants from August to produce cleaner fuels, two sources privy to the move said. IOC will shut a delayed coker, hydrotreater and gasoline units for about 15 days for catalyst replacement at its 13,000-barrels-per-day (bpd) Digboi refinery, the sources said. At the 48,000-bpd Bongaigaon refinery, it will shut one of the two crude units, a delayed coker, diesel hydrotreater and hydrogen generation unit for three months from September, they said.
Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the United States to make up for any loss of Iranian oil if the U.S. enforces sanctions more harshly from next month, sources and company officials said. All four Indian state-owned refiners that buy Iranian oil are confident of securing additional barrels from other producers, officials from the companies told Reuters. India's Bharat Petroleum Corp (BPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have tapped Iraq to make up for Iranian oil, while Indian Oil Corp (IOC) has signed its first annual contract with U.S. suppliers and raised supplies from Mexico.
Refiner Indian Oil Corp (IOCL) has halted the supply of fuel to struggling carrier Jet Airways since Wednesday afternoon over non-payment of dues, a source with direct knowledge of the matter told Reuters. This is the second time the refiner has stopped fuel supplies to the crisis-stricken Jet, which is saddled with over $1.2 billion in debt and owes money to banks, aircraft lessors, suppliers, pilots and others. Two other refiners - Hindustan Petroleum Corp (HPCL) and Bharat Petroleum Corp (BPCL) - are supplying fuel to Jet on a cash-and-carry basis, which means the airline needs to pay for the fuel upfront at the time of purchase.
SINGAPORE (Reuters) - Indian Oil Corp is seeking a liquefied natural gas (LNG) cargo for delivery in April, two industry sources said on Monday. The company is seeking the cargo for delivery into the port ...
NEW DELHI/SINGAPORE (Reuters) - Indian Oil Corp, the country's top refiner, has signed its first annual deal to buy U.S. oil, paying about $1.5 billion for 60,000 barrels a day in the year to March 2020 to diversify its crude sources, its chairman said on Monday. IOC is the first Indian state refiner to buy U.S. oil under an annual contract, in a deal that will also help boost trade between New Delhi and Washington. The company has previously purchased U.S. oil from spot markets and signed a mini-term deal in August to buy 6 million barrels of U.S. oil between November and January.
Indian Oil Corp (IOC) bought a commissioning cargo of liquefied natural gas (LNG) for its new Ennore terminal in south India, in a sign that India's first terminal in the east coast is readying for start-up, three industry sources said on Monday. It bought the cargo at about $9.50-9.90 per million British thermal units (mmBtu), one of the sources said.
Indian Oil Corp, the country's top refiner, is looking for an annual deal to buy U.S. crude as it seeks to broaden its oil purchasing options, its chairman said on Wednesday, amid uncertainties over imports from Iran. Washington in November granted a six-month waiver to New Delhi from sanctions against Tehran and restricted India's monthly intake of Iranian oil to 1.25 million tonnes or 300,000 barrels per day. Sanjiv Singh told reporters IOC has not yet finalised from which company it would buy U.S. oil.
(Reuters) - Indian Oil Corp Ltd (IOC) reported nearly 91 percent slump in quarterly profit on Wednesday, as a plunge in global crude prices took a toll on margins of oil refiners and marketing companies. ...
SINGAPORE (Reuters) - Indian Oil Corp (IOC) is seeking a commissioning cargo for its new Ennore liquefied natural gas (LNG) terminal in south India, two industry sources said on Wednesday. The state-owned ...
Indian Oil Corp, the country's top refiner, will shut half of its 300,000 barrels per day Panipat refinery in northern Haryana state for about a month from mid-February for maintenance, a company spokesman said. The refiner will shut a 150,000 bpd crude unit. It will also shut a sulfur recovery unit, hydrocracker, diesel hydrotreater, and coker among others for planned maintenance.
India's biggest refiner Indian Oil Corp Ltd said on Wednesday that Iran may still invest in a refinery expansion project at one of its subsidiaries. Indian Oil's chairman Sanjiv Singh said that Iran has not ruled out participating in the expansion at Chennai Petroleum Corp Ltd, a south India-based 20,000 barrels per day (bpd) refinery. Iran's participation has been questioned after India cut back its Iranian crude oil imports following U.S. sanctions.
NEW DELHI (Reuters) - Indian Oil Minister Dharmendra Pradhan said on Friday he was hopeful that Organisation of the Petroleum Exporting Countries (OPEC) would keep in mind consumers' interests before deciding ...
India's top refiner, Indian Oil Corp (IOC), has issued a global tender to charter scrubber-fitted oil tankers for at least five years to import Iraqi oil, a tender document seen by Reuters showed. The tender says Indian shippers will be given first right of refusal for the contract as the nation seeks to boost its shipping industry. A scrubber is a product that strips out sulphur emissions and, in doing so, can allow shippers to use dirtier fuel oil but still meet new global requirements for lower emissions.
SINGAPORE (Reuters) - Indian Oil Corp is seeking two liquefied natural gas (LNG) cargoes for delivery in January, two industry sources said on Monday. The company is seeking the cargoes on a delivered ...