The three main state-owned oil refining and marketing companies have so far lost $2.25 bn (Rs 17,000 cr) due to the freeze on petrol and diesel price imposed by the government ahead of state elections in Uttar Pradesh, Punjab and Goa, according to a report by Moody’s. The rating agency pointed out that Indians are […]
State-owned oil marketing companies, Indian Oil, Hindustan Petroleum and Bharat Petroleum, are open to buying the land on which their retail outlets are located to offset rising real estate prices, oil minister Dharmendra Pradhan said. Pradhan was responding to a concern about how rising real estate prices in cities and towns are leading to landlords […]
A proposed merger of Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp will reduce inefficiencies across the sector and result in enormous savings, ratings agency Fitch said. It would also create an entity that is better placed to compete globally for resources, and less vulnerable to shifts in oil prices and give it […]
Praj Industries said it had entered into agreements with Indian Oil Corporation and Bharat Petroleum Corporation Ltd to set up bio-ethanol plants that will convert agricultural waste into fuel. A total of three plants will be construct — two for IOCL and the remaining one for BPCL. The company said it signed a binding agreement […]
With the market showing extreme volatility, the Indian Oil Corporation’s offer for sale of 24.3 cr shares did not get adequate response from retail investors. Though 20% of the offer was exclusively reserved for retail investors, the company managed to get subscriptions for only about one-fifth of this quota. A 5% discount was also offered […]
