Indian Oil Corporation

  • 10 per cent IOC stake to be sold to ONGC, OIL January 17, 2014

    New Delhi: In the first disinvestment through block deal this fiscal, a ministerial panel on Thursday approved selling 10 per cent government stake in Indian Oil Corp (IOC) to ONGC and OIL to rake in Rs 4,800-5,000 crore. With Oil Ministry continuing to be opposed to selling IOC shares on stock...
  • Petrol prices hiked by 75 paise, diesel prices by 50 paise January 3, 2014

    Petrol and diesel prices will go up by 75 paise and 50 paise a litre, excluding taxes, from midnight Friday, state-run oil marketing company Indian Oil Corporation said. "Indian Oil Corporation has decided to effect increase in the retail selling price of petrol by Rs. 0.75 per litre excluding state levies...
  • Petrol price cut by Rs 3.05 per litre, diesel hiked by 50 paise September 30, 2013

    New Delhi: In a good news for the people, petrol price has been cut by Rs 3.05 per litre, the first reduction in rates in over five months and the steepest in over five years. However, diesel price has been hiked by 50 paise per litre. The price changes announced...
  • Indian Oil Corporation win Murugappa Gold Cup hockey September 22, 2013

    Chennai: Indian Oil Corporation survived a brilliant second-half comeback by Indian Overseas Bank to post a 6-4 win in the final of the 88th All-India MCC-Murugappa Gold Cup hockey tournament here Sunday. Leading 4-0 at half-time, IOC, last year's joint winners, turned complacent on resumption and the bankmen capitalised on the...
  • Petrol price hiked by Rs 1.63 per litre, excluding states taxes September 13, 2013

    New Delhi: Petrol will cost Rs 1.63 more per litre, excluding state taxes, from midnight on Friday, state-run Indian Oil Corporation (IOC) announced. The IOC said that it had to hike prices due to volatility in the rupee value and hardening of international motor spirit (MS) prices in the international market. Following are...
  • Cabinet approves 10 pc stake sale in Indian Oil; to fetch Rs 3,750 crore August 1, 2013

    New Delhi: The Cabinet on Thursday cleared the proposal for sale of 10 per cent government stake in Indian Oil Corporation (IOC), which may fetch around Rs 3,750 crore to the exchequer at the current market price. "IOC disinvestment proposal has been cleared by the CCEA (Cabinet Committee on Economic Affairs),"...
  • India to restore subsidised gas supply to Bhutan from August 1 July 31, 2013

    New Delhi: India will restore the supply of subsidised gas to Bhutan from August 1, a month after it was halted and became a campaign issue in the Himalayan Kingdom's second national polls. "We have obtained and completed all clearances - technical and administrative. We are ready to supply the...
  • Mathura: Villagers help unearth crude oil racket worth crores April 13, 2013

    Mathura: Villagers in Mathura have helped unearth a crude oil racket worth hundred of crores of rupees. Oil was being siphoned off from the main pipeline of Indian Oil Corporation between Salayan in Gujarat and the Mathura refinery. An FIR has been registered against three persons for allegedly pilfering crude...
  • Diesel price in Delhi cut by 4 paise per litre April 4, 2013

    New Delhi: Indian Oil Corporation (IOC) on Thursday cut price of retail diesel in Delhi by 4 paise per litre with effect from Monday, while subsidised LPG rate was hiked by Rs 11.50 per cylinder in the city. Earlier on March 22, diesel price was hiked nationwide by 45 paise...
  • Non-subsidised LPG price cut by Rs 3 per cylinder April 1, 2013

    New Delhi: The price of non-subsidised cooking gas (LPG) was on Monday reduced by Rs 3 per cylinder in line with fall in international rates. A 14.2-kg LPG cylinder that consumers will have to buy after they exhaust their enhanced quota of 9 subsidised bottles in a year, will cost...
  • Bomb recovered in front of Indian Oil refinery in Assam February 26, 2013

    Guwahati: A powerful country-made bomb was recovered from a bag near the main gate of the Indian Oil Corporation's ( IOC) oil refinery on Tuesday. The bomb was kept in a bag in front of the gate of the refinery in Noonmati area of the city, police said. Bomb disposal squad...
  • ULFA blasts IOC pipeline, no casualty reported January 29, 2013

    Tinsukia: An oil pipeline at Makum in upper Assam's Tinsukia district was on Tuesday damaged in an explosion for which United Liberation Front of Assam (ULFA) claimed responsibility. The explosion in the pipeline of the Indian Oil Corporation-Assam Oil Division (AOD) created a 4-ft crater in Pachim Mamarani area, AOD...
  • Implement Lal panel report on IOC fire: Narendra Modi January 9, 2013

    New Delhi: Within days of the fire at Indian Oil Corporation's (IOC) Hazira terminal, Gujarat Chief Minister Narendra Modi on Tuesday questioned the central government over the delay in implementing the MB Lal Committee's recommendations to prevent recurrence of such incidents. In a letter to Prime Minister Manmohan Singh, Modi questioned...
  • Surat: Fire at IOC storage tank contained January 6, 2013

    Surat: Three people were killed and one reported missing in the major fire in storage tank number four of the Indian Oil Corporation (IOC) terminal in Hazira which was contained after a 21-hour operation by the fire brigade team on Sunday. Earlier, the bodies of two people had been recovered...
  • Fire at Surat's IOC storage tank still raging on January 6, 2013

    Surat: The fire that broke out at Indian Oil Corporation's Hazira Depot on Saturday is still raging on and four people have been reportedly missing. Approximately 100 lakh litres of petrol has been lost till now. More than 150 fire tenders from Surat and nearby cities have been fighting the...
  • Major fire breaks out at IOC's storage tank near Surat January 5, 2013

    Surat: A major fire broken out on January 5 at storage tanks of Indian Oil Corporation's terminal at Hajira port here, fire brigade officials said. Fire brigade personnel from Surat and nearby cities were trying to bring the fire under control. Hazira facility of IOC has nine...
  • Kerala: IOC silent on compensation to Chala fire victims September 17, 2012

    Kannur: The Indian Oil Corporation remains non-committal on giving compensation to the victims of the gas tanker lorry disaster even more than two weeks after the tragedy which claimed the lives of 20 persons including women and children at Chala here. The director board of the IOC, which met in...
  • Petrol price to be cut by Rs 2.46 from midnight June 28, 2012

    New Delhi: Indian Oil Corporation on Thursday slashed petrol price by Rs 2.46, to be effective from midnight. State-owned oil firms, which had last month hiked petrol price by a massive Rs 7.54 a litre, had on June 3 cut rates by Rs 2.02 per litre. Petrol in Delhi will cost Rs...
  • Oil companies deny Vayalar Ravi's profit claim June 4, 2012

    New Delhi: Three state-owned oil companies have issued a statement denying that they are making huge profits and stated that the petrol price hike was necessary. The statement came in response to a letter by Overseas Indian Affairs Minister Vayalar Ravi to Oil Minister S Jaipal Reddy saying the claim made...
  • Oil companies making profits: Vayalar Ravi June 2, 2012

    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...
  • Hope petrol prices will come down: IOC May 24, 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...
  • Cut taxes or face petrol price hike: IOC to govt April 17, 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...
  • IOC seeks Rs 8 hike in petrol prices April 13, 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...
  • Oil firms to give AI extra fuel for 3 months June 13, 2011

    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...
  • IOC to hike petrol prices from June 1 May 31, 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...
  • IOC may hike petrol prices next month 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...
  • AI to combine 13 flights due to financial crisis May 28, 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...
  • IOC may raise petrol prices soon April 25, 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...
  • Navi Mumbai: fire at IOC depot under control January 18, 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...
  • IOC incurring loss despite petrol price hike January 17, 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...