Shares of oil marketing companies (OMCs) such as Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) were trading higher by up to 3% on BSE ahead of their board meetings today to consider the interim dividend.

“The board of directors of the company would consider declaration of second interim dividend for the financial year 2016-17 on March 23, 2017 and record date to be considered,” these companies have said in a separate regulatory filing.

Bharat Petroleum Corp. Ltd (BPCL), India’s second largest oil marketing company, is planning to enter the travel business with its personal travel offering, Happy Roads, which would help travellers plan and execute road trips, two senior company officials said.

BPCL is looking to launch the app in about two months, the executives said, requesting anonymity. Through the app, the state-run company hopes to draw more millennials, seen as being attuned to travelling by road, into its customer base.

NEW DELHI: The government’s plan to create an integrated oil company will likely involve Oil and Natural Gas Corp taking over either Hindustan Petroleum Corp (HPCL) or Bharat Petroleum Corp (BPCL) but won’t result in a mega merger leading to the creation of an industry giant.

In his February 1 Budget speech, FM Arun Jaitley had said the government proposes to “create an integrated public sector oil major which will be able to match the performance of international and domestic private sector oil and gas companies”.

Mumbai: Lower oil prices and the scrapping of fuel subsidies have allowed India’s biggest energy companies to slash borrowings to the lowest in at least eight years.

Total debt at Indian Oil Corp., the nation’s largest refiner, stood at Rs419 billion ($6.2 billion) at the end of September, down from Rs863 billion rupees in March 2014, according to the most recent data from company filings. Liabilities at Hindustan Petroleum Corp., the third-biggest fuel retailer, shrunk 65% in the same period, the data show.

State-run oil marketing company Bharat Petroleum Corporation Ltd (BPCL) on Friday said that it plans to raise up to Rs 2,000 crore through private placement of secured non-convertible debentures during the current financial year.

The company informed the Bombay Stock Exchange (BSE) that last year its shareholders had approved "private placement of non-convertible bonds/debentures and/or other debt securities".

All three listed oil marketing companies (OMCs) Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) along with IndusInd Bank, Hindustan Zinc and Power Grid Corporation are 10 stocks from the Nifty500 index hitting their respective record highs on the National Stock Exchange (NSE).

Caplin Point Lab, CCL Products, EID Parry and Vakrangee are others that hit lifetime highs on the NSE in intra-day trade.

State-run oil marketing companies shares rose on Monday amid flat broader markets on the back of increase in retail fuel prices announced last night. Indian Oil Corp, the country’s largest oil marketer, was trading at Rs 335.3, up 1.36% from the previous close. Other two state-run oil marketing companies – Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd were also trading higher at Rs 490.7 (up 0.57%) and Rs 658.45 (0.12%) in the morning trade. Benchmark indices marginally recovered from early morning weakness. BSE Sensex was trading at 27,257.16 points, up 0.07%, and NSE Nifty regained the 8,400-mark at 8,409.1 points, up 0.1%.

Hindustan Organic Chemicals Limited (HOCL) is locked in upper circuit of 20% at Rs 25.80 on the BSE on back of heavy volumes after the company announced that the board will consider the proposal to sell part of the company’s land at Rasayani to Bharat Petroleum Corporation (BPCL).

“A meeting of the board of directors of the company will be held on January 20, 2017, to consider and approve the proposal to sell part of HOCL land at Rasayani to BPCL, proposal to sell land, plant & machinery of C.N.A plant at HOCL Rasayani to ISRO as per Government of India (GOI's) directions, etc,” the company said in a BSE filing.

New Delhi: The PSU oil companies have deferred a planned Rs2.26 a litre hike in petrol and Rs1.78 increase in diesel.

Indian Oil Corporation (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise rates, particularly when a price cut is necessitated, on 1st and 16th of every month based on average international price in the previous fortnight. But an increase that was warranted because of a rise in international gasoline (petrol) price to $62.82 per barrel from $57.43 and that of diesel to $60.97 from $56.79 was deferred on Friday.

Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corp today signed a pact to build India's biggest oil refinery at a cost of $30 billion on the west coast.

The three firms signed the pact for the 60-million tonne a year refinery in Maharashtra with IOC as leader of the consortium, officials said.

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