Indian Oil signs first annual deal for U.S. oil
Monday, February 18, 2019, 5:41 PM
The country's largest refiner Indian Oil has signed its first annual deal to buy US oil, paying about $1.5 billion for 60,000 barrels a day in 2019-20. Indian Oil is the first state-owned refiner to buy US oil under an annual contract. While it didn't reveal the seller's name, reports said the deal was signed with Norwegian oil company Equinor.
Indian Oil Reduces Jet Fuel Prices to Lowest in Seven Months
Monday, December 3, 2018, 5:40 PM
Indian Oil Corp., the country's biggest fuel retailer, cut jet fuel prices for domestic and international carriers. The price in Delhi for domestic airlines was cut to Rs.68,050.97 a kiloliter on December 1, an 11% reduction from a month earlier, according to a statement by the state-run company. That is the lowest since May 1, data from Indian Oil show.
IOC to invest Rs 5,463 cr in city gas network in 7 districts
Thursday, October 11, 2018, 6:49 PM
State-owned Indian Oil Corp (IOC) Thursday said it will invest Rs.5,463 crore in setting up city gas distribution network for retailing CNG to automobiles and piped cooking gas to households in seven districts. IOC had in the recently concluded 9th bid round for city gas licences won permits for seven cities on its own and another nine in a joint venture with Adani Gas.