New Delhi: Union Minister for Overseas Affairs Vayalar Ravi on Saturday pushed for reduction in petrol prices and said that the oil marketing companies are making false claims that they are incurring losses. He suggested that bold steps should be taken to reduce the recent increase in petrol prices. In a letter to Union Minister for Petroleum S Jaipal Reddy, Ravi questioned the claims of oil companies that they are...
08:11 PM, Jun 02, 2012
New Delhi: Indian Oil Corporation (IOC) on Thursday said that the decision to hike the petrol prices was tough but there was no option left to tackle the impact of rising crude prices. IOC Chairperson RS Butola, however, hoped that the prices will come down in the near future. "If government orders us for rollback we will certainly do that but so far we have not received any order," he...
05:30 PM, May 24, 2012
New Delhi: State-run oil companies have served an ultimatum to the government that they will raise petrol prices by Rs 9.6 a litre if excise duty is not cut or they are not provided compensation for Rs 49-crore per day loss on fuel sale. "We have been very patient, not raising prices since December despite our cost of production spiralling. But there is a limit to which we can borrow...
06:30 PM, Apr 17, 2012
New Delhi: Indian Oil Corporation Chairman RS Butola has asked for a Rs 8 hike in petrol prices. IOC has said that oil manufacturing companies are losing Rs 50 crore on petrol everyday. Petrol prices in India have risen by almost 50 per cent in the past two years. The last petrol hike was in December, 2011. ...
12:19 PM, Apr 13, 2012
New Delhi: Air India on Monday got a breather on payment of dues to state-run oil companies, which have restricted fuel supply to it, following the intervention of Civil Aviation Minister Vayalar Ravi who met Petroleum Minister S Jaipal Reddy to sort out the issue. In the meeting, Ravi asked Reddy to direct the oil marketing companies to provide aviation turbine fuel to Air India so that the national carrier...
09:47 PM, Jun 13, 2011
New Delhi: State-owned Indian Oil Corporation, the nation's largest fuel retailer, on Tuesday announced that petrol prices will go up by Rs 1.35 per litre with effect from June 1. The IOC says the May 15 hike in petrol prices by Rs 5 is not enough to cover the cost of crude oil and refining it. "Even after the hike, we are losing Rs 4.58 per litre. After including VAT, ...
01:53 PM, May 31, 2011
New Delhi: State-owned Indian Oil Corporation, the nation's largest fuel retailer, today said it may hike petrol price next month as the steep hike of Rs 5 per litre of May 15 was not enough to cover for the cost of crude oil. "Even after the hike, we are today losing Rs 4.58 per litre. After including VAT, the desired increase at retail level comes to Rs 5.50 a litre,"...
10:40 AM, May 31, 2011
New Delhi: Faced with a twin attack from oil PSUs and operators of Delhi and Hyderabad airports asking it to clear their dues, Air India on Saturday drew up plans to combine13 flights spread over a few sectors till the start of the lean season from mid-June. In a bid to face the fresh financial crisis, the ailing national carrier sent a letter to the Civil Aviation Ministry urging the...
06:56 PM, May 28, 2011
New Delhi: State-owned Indian Oil Corp, the nation's largest oil firm, on Monday hinted at an imminent hike in petrol prices, whose rates have not been revised since January in view of elections in states like West Bengal. "We would do it (increase rate) at the earliest possible," IOC Chairman Ranbir Singh Butola told reporters here. In his first interaction with media after taking over as the Chairman of the...
04:59 PM, Apr 25, 2011
New Delhi: A major fire broke out at an Indian Oil Corporation (IOC) installation near Navi Mumbai early on Tuesday. The fire broke out around 2 AM at the Indian oil facility at Taloja industrial area near Mumbai, fire brigade sources said. There are no reports of any casualties. The fire began in containers holding lubricant oil. It completely gutted the IOC storage area, before being controlled. At least 18...
07:30 AM, Jan 18, 2011
New Delhi: State-owned Indian Oil Corp, the nation's largest fuel retailer, on Monday said it is losing Rs 1.22 per litre on petrol despite last week's Rs 2.50 a litre hike in prices, as crude oil rules at two-year high levels. "Based on current price levels in the international oil market, the desired increase in the retail selling prices of petrol in a market like New Delhi should have been...
12:29 PM, Jan 17, 2011
New Delhi: Indian Oil Corporation, the nation's largest fuel retailer, on Saturday hiked petrol prices by Rs 72 paise a litre effective midnight tonight. IOC sources said after the hike, petrol in Delhi will cost Rs 52.55 a litre and the rate in other cities will vary depending on local taxes and levies. While Bharat Petroleum Corporation Ltd had yesterday announced a Rs 70 paise per litre increase in petrol...
07:26 PM, Oct 16, 2010
Manjunath, was a sales officer with IOCL, murdered in 2005 by the petrol mafia for cracking down on pumps selling adulterated petrol. ...
04:46 PM, Aug 15, 2010
IOC net profit for the quarter ending Dec 31, 2009 was Rs 6.95 billion. ...
06:50 PM, Jan 29, 2010
IOC needs to accelerate new business plans to avoid becoming obsolete. ...
05:00 PM, Jan 13, 2010
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.
Disclaimer: Network18 Media & Investments Limited is proposing, subject to market conditions and other considerations, an offer of its equity shares on rights basis and has filed a Draft Letter of Offer with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the websites of the Lead Managers at www.icicisecurities.com and www.rbs.in Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to "Risk Factors" in the Draft Letter of Offer. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the US Securities Act) except in a transaction exempt from the registration requirements of the US Securities Act and in accordance with any applicable U.S. state securities laws.
Disclaimer: TV18 Broadcast Limited is proposing, subject to market conditions and other considerations, an offer of its equity shares on rights basis and has filed a Draft Letter of Offer with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the websites of the Lead Managers at www.icicisecurities.com and www.rbs.in Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to "Risk Factors" in the Draft Letter of Offer. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the US Securities Act) except in a transaction exempt from the registration requirements of the US Securities Act and in accordance with any applicable U.S. state securities laws.
