[ad_1] NEW DELHI: After delivering back-to-back innovations in fuel grades, Indian Oil Corporation (IOC) has now set sight on the Grand Prix and will in next three months start producing fuel used in adrenaline-pumping Formula One or F1, motor racing. The firm’s refinery at Paradip in Odisha will in three months produce the petrol used…
[ad_1] NEW DELHI: State-owned oil and gas giants including IndianOil, ONGC and GAIL (India) have been slapped fines for the third straight quarter for failing to meet listing norm requirements of having the requisite number of directors on their board. Stock exchanges have fined oil refining and fuel marketing giant Indian Oil Corporation (IOC), explorers…
[ad_1] NEW DELHI: IOC’s net profit leaped to Rs 8,063 crore in the third quarter compared to Rs 448 crore in the previous corresponding period, driven by the sharp drop in crude since Sept amid unchanged fuel prices. Sequentially, however, the profit was 37% lower than the Rs 12,967 crore profit posted in the July-Sept…
[ad_1] NEW DELHI: India’s first-ever payment in rupees for crude oil purchased from the UAE is helping the world’s third largest energy consumer push for taking the local currency global, as it looks for similar deals with other suppliers, officials said, adding internationalisation is a process and there are no targets.With the nation more than…