Indian Oil Corporation Ltd (IOC)

IOC Shares Fall After No Budget Allocation for OMCs - 23 Jul, 2024

Indian Oil Corporation's stock fell 1.4% following the Union Budget 2024's lack of budgetary allocation for oil marketing companies (OMCs) for FY25. The government also dropped plans to invest Rs 15,000 crore equity in OMCs due to their profitability. However, IOC aims to triple natural gas sales and increase renewable energy capacity to 31 GW by 2030.

Indian Oil Targets Clean Energy Growth - 22 Jul, 2024

Indian Oil Corporation is targeting to become a $1-trillion company by 2047, expanding its capabilities in traditional oil refining and fuel marketing while investing in clean energy avenues. The company plans to increase natural gas sales, expand renewable energy capacity, and establish a lithium-ion battery production capacity. Additionally, it has handed over a state-of-the-art green hydrogen fuel cell bus to the Indian Navy for trials and performance testing.

IOC Aims to Become $1 Trillion Company by 2047 - 21 Jul, 2024

Indian Oil Corporation aims to become a $1 trillion company by 2047 through investments in fossil fuels and new energy avenues. The firm posted a record net profit of Rs 39,619 crore ($4.7 billion) on revenue of Rs 8.66 lakh crore ($104.6 billion) in the 2023-24 fiscal year.

Indian Oil Corporation Working on Energy Efficient Fuels - 20 Jul, 2024

Indian Oil Corporation is focusing on making fuels more energy efficient and less carbon intensive. The company is also exploring biodiesel and LNG as alternative fuel options.

IOCL Outlook Stable Despite Earnings Moderation - 19 Jul, 2024

Indian Oil Corporation Limited (IOCL) has a dividend yield of 8.25%, but its financial outlook is clouded by an expected average earnings decline of 22.3% annually over the next three years. Moody's affirmed a stable outlook for IOCL and Bharat Petroleum Corporation Limited (BPCL), reflecting strong credit metrics despite moderation in earnings and high capital spending.

IOCL Stock Trades Bullish Amid Moody's Stable Outlook - 18 Jul, 2024

Indian Oil Corporation Ltd. stock trades bullish with a 0.76% increase to Rs 169.4 and a bearish MACD signal. Moody's affirms IOCL's stable outlook due to strong credit metrics despite expected earnings moderation and high capex.

IOCL Issues Debentures Worth Rs 2,500 Crore - 17 Jul, 2024

Indian Oil Corporation Limited has issued Rs 2,500 crore worth of debentures to refinance existing borrowing and fund capital expenditure. The company also reported a strong dividend yield of 7.03% and a return of 75% in a year.

IOC's Green Hydrogen Project Receives Sparse Bids - 16 Jul, 2024

Indian Oil Corporation has received only two bids for its initiative to establish India's first green hydrogen plant at the Panipat refinery in Haryana, following the second attempt at tendering for the project. Some major engineering and industrial gas firms that showed initial interest did not submit bids.

IOCL in Talks for Crude Procurement and LNG Supplies - 15 Jul, 2024

Indian Oil Corporation Limited is in discussions to ensure continued crude procurement and potentially open a new route for LNG supplies, while RBM Infracon has received a work order worth Rs. 5.93 Crores for mechanical and piping erection works at the IOCL Gujarat Refinery.

Indian Oil Corporation Produces High-Octane Petrol for Racing Cars - 14 Jul, 2024

Indian Oil Corporation has started producing STORM-X, a high-octane petrol specifically formulated for racing cars. The launch of premium racing fuel is part of the firm's pursuit of innovation and excellence. IOC will be the first Indian company and only a handful globally to produce fuel used in F1 racing.

IOCL Continues Search for New Chairman - 13 Jul, 2024

The Indian Oil Corporation is still searching for a new Chairman after the Public Enterprises Selection Board failed to find a suitable candidate. Current Chairman, Sanjiv Singh Vaidya, is ineligible due to age restrictions. IOCL is also involved in the NEGG project in Tripura.

IOC Pays Highest-Ever Dividend & Considers Partnership - 12 Jul, 2024

Indian Oil Corporation pays its highest-ever final dividend of Rs 7 per share for FY23-24 and is being considered as a preferred partner for a joint initiative with SCI aligned with Atmanirbhar Bharat initiative.

IOCL Considers Joint Venture for Oil Tanker Construction - 11 Jul, 2024

Indian Oil Corporation Ltd (IOCL) is being considered for a joint venture with Shipping Corp. of India to build oil tankers, while Indian refiners saved $10.5 billion in forex by purchasing discounted Russian crude oil. Section 93 of the Act outlines provisions for establishing a greenfield crude oil refinery and petrochemical complex in Andhra Pradesh.

IOCL Stock Likely to Benefit from Russia-India Energy Cooperation - 10 Jul, 2024

Stocks of Indian Oil Corporation (IOCL) and other energy players are expected to receive a boost following the Russia-India joint statement for energy cooperation. Additionally, IOCL has ensured uninterrupted fuel supply despite a one-day strike by some truck operators.

Chennai IOC Tanker Owners Announce One-Day Strike - 09 Jul, 2024

Petroleum tanker truck owners in Chennai announced a one-day strike on July 10, urging the Indian Oil Corporation management to fulfil their demands. Three-hundred tankers will not operate as part of the protest, causing supply shortages for dealers in several districts. However, an IOC press release stated that alternative arrangements had been made to ensure normal fuel supplies.

IOCL Joint Venture to Raise Funds for CBG Plants - 08 Jul, 2024

Indian Oil Corp's joint venture with GPS Renewables plans to raise funds to set up nearly 10 Compressed Bio Gas plants across India. However, Indian oil marketing companies like Hindustan Petroleum Corp., Bharat Petroleum Corp., and IOCL are expected to report weak earnings for Q1 FY25.

Indian Oil Corporation Declares Final Dividend of Rs. 7 per Equity Share - 06 Jul, 2024

Indian Oil Corporation Limited has declared a final dividend of Rs. 7 per equity share with a face value of Rs. 10, representing a 70% payout and a dividend yield of 6.99%. The record date for determining eligible shareholders is July 12, 2024.

Indian Oil Majors Negotiate Long-Term Crude Supply Contracts - 05 Jul, 2024

Indian oil majors IOCL, HPCL, and BPCL are negotiating with Brazilian energy major Petrobras to secure long-term crude oil supply contracts as part of India's strategy to diversify its energy sources.

Indian Oil Corporation Ltd to Receive Payment Under DBT Scheme - 04 Jul, 2024

The Centre has announced that it will pay Rs 1500 crore to oil marketing companies, including Indian Oil Corporation Limited (IOCL), for direct benefit transfer under the PAHAL DBT Scheme. This news is expected to have a positive impact on IOCL's stock price.

IOCL Offers High Dividend Yield Amidst Rising Russian Crude Imports - 02 Jul, 2024

Indian Oil Corporation Ltd (IOCL) offers an attractive dividend yield of 8.35% with strong financials. IOCL is amidst rising imports of crude oil from Russia, which hit a record high of 2 million bpd in June, leading to declining imports from traditional suppliers like Saudi Arabia and Iraq.