India’s largest refining and oil marketing company Indian Oil Corporation (IOC) has lined up capital expenditure to the tune of R1.83 lakh crore between FY18 and FY22. A large chunk of the proposed investment would go towards expansion of refineries and marketing-related facilities such as setting up of terminals, the PSU told analysts in a recent conference call.

In the current financial year, IOC is spending R19,000 crore. In the next five years, R50,000 crore would be spent towards ramping up refining capacity, while another R40,000 crore would be spent under marketing initiatives, said an analyst present at the conference.

Indian Oil Corporation on Thursday reported a net profit of R3,121.89 crore for the July-September quarter of FY17, as against a net loss of R450.24 crore during the same period last year.

“Last year, we had an inventory loss of R5,134 crore, while it has come down to R686 crore this year. Moreover, better petrochemical margins this quarter also played a role in improved net profit,” said B Ashok, chairman of IOC.

Indian Oil Corporation (IOC) was trading 1% lower at Rs 318 on BSE after the stock was traded ex-bonus on Tuesday in the ratio of 1:1.

The stock opened 1% higher at Rs 324, hit an intra-day high of Rs 325 so far. A combined 1.13 million shares changed hands on the counter on the BSE and NSE till 10:08 am.

Indian Oil Corporation (IOC) was up nearly 4% to Rs 606, also its record high on the BSE, after the company said it will invest over Rs 9,800 crore in expanding its Barauni refinery in Bihar and setting up a petrochemical unit at Panipat refinery in Haryana.

The board of directors of IOC in its meeting on Thursday approved expansion of Barauni refinery from 6 million tonnes per annum (MTPA) to 9 MTPA capacity along with downstream Polypropylene unit at an estimated cost of Rs 8,287 crore, the company said in a regulatory filing.

The Cabinet on Wednesday gave its nod to a consortium of IOC, Oil India and BPCL buying stakes in two Russian oilfields for a total of $3.14 billion.

Indian Oil Corp, Oil India and a unit of Bharat Petroleum Corporation (BPCL) will buy 29.9 per cent stake in Taas-Yuryakh oilfield in East Siberia for $1.12 billion and another 23.9 per cent in Vankor oilfield for $2.02 billion.

Reliance Industries (RIL), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC) and Castrol India from the S&P BSE Oil & Gas index hitting their respective 52-week highs in intra-day trade on Monday.

At 03:07 PM, the S&P BSE Oil & Gas index was up 0.16%, as compared to 1.2% decline in S&P BSE Sensex. The index hit an intra-day high of 11,573, its highest level since September 10, 2014.

State-owned refiner Indian Oil Corporation (IOC) and gas utility GAIL India Ltd will tomorrow sign a pact to take 49 per cent stake in Adani Group’s Rs 5,000-crore Dhamra LNG project in Odisha.

While IOC will take 38 per cent, GAIL will pick 11 per cent stake in the proposed 5-million tonne a year liquefied natural gas (LNG) import terminal at Dhamra by 2018-19.

NEW DELHI: State-owned Indian Oil Corporation's (IOC) Rs 1.8 lakh-crore capital investment plan over the next six years will not affect the company's credit profile, Fitch Ratings said today.

"The large investment plans announced by IOC are in line with the agency's expectations that are incorporated in the assessment of its standalone credit profile of 'BB+'. Fitch equalises IOC's rating with that of its largest shareholder, the state of India, due to their strong operational and strategic linkages," it said in a statement here.

Shares of oil marketing companies (OMCs) such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) were trading higher in the early trade on Friday after they revised fuel prices. Petrol prices increased by 0.58 per litre while diesel prices decreased by Rs 0.31 per litre.

IOC shares advanced as much as 0.9 per cent in the early trade. At 9.35 am, the scrip was trading 0.60 per cent up at Rs 561.85.

Indian Oil Corporation will on September 9 send seven tankers of diesel and kerosene to Tripura via Bangladesh for the first time to avoid fuel crisis in the North Eastern state, as the dilapidated condition of NH-44 in Assam has made the transportation difficult.

IndianOil-AOD, the company’s North East division, will move kerosene and diesel from Betkuchi depot in Guwahati to Dharmanagar depot in Tripura in the first consignment through the neighbouring nation.

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