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India’s largest oil refiner <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+Oil+Corporation">Indian Oil Corporation</a> would invest Rs 1.75 trillion over the next 7 years. This would help it increase output by 54% to nearly 100 million tonnes per year. 
 
"We have a capex plan of Rs 1.75 trillion over the next seven years. And out of this, Rs 50,000 crore will be for brownfield expansion at existing facilities", B Ashok, Chairman, <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+Oil">Indian Oil</a> said after the company's 56th annual general meeting. 
 
Ashok also said the company would invest Rs 35,000 Crores in <a href="http://www.businessinsider.in/searchresult.cms?query=marketing">marketing</a>, Rs 15,000 Crores for pipelines, Rs 35,000 Crores into exploration and production, Rs 30,000 Crores into <a href="http://www.businessinsider.in/searchresult.cms?query=petrochemical">petrochemical</a> projects, and Rs 7,000 Crores into gas. 
 
On the payments for <a href="http://www.businessinsider.in/searchresult.cms?query=Iran">Iran</a>, he said the <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+government">Indian government</a> is discussing feasible modes of payment. 
 
Image credit: Indiatimes

Indian Oil to invest Rs 1.75 trillion over 7 years

Indian Oil Corporation Limited (IOCL) is inviting applications for its apprenticeship programme

<ul><li>IOC is inviting applications from eligible candidates for its technical and non-technical apprenticeship programme for their offices in southern Indian states.</li><li>The last date to apply for the opportunity is 5 p.m., on December 27, 2021.</li><li>Checkout the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul><keyword id="6356834" type="General" weightage="20" keywordseo="Indian-Oil-Corporation" source="Orion">Indian Oil Corporation</keyword> (IOCL) is inviting applications from eligible candidates for its technical and non-technical apprenticeship programme for their offices in southern Indian states — Tamil Nadu, Puducherry, Karnataka, Kerala, Andhra Pradesh, and Telangana. The last date to apply for the opportunity is 5 p.m., on December 27, 2021. Interested candidates can apply online on their official <a href="https://ioclsrmd.onlinereg.in/kali1121reg/Home.aspx">website</a>. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">States </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TamilNadu and Puducherry </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">84 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Karnataka </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">52 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kerala </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">49 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Andhra Pradesh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">55 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telangana </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">60 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Eligibility criteria for the apprenticeship role <ol><li>For trade apprentice</li></ol><ul><li>Fitter: Grade 10 plus two years of industrial training institute’s (ITI) fitter course.</li><li>Electrician: Class 10 plus two years of ITI electrician course.</li><li>Electronic Mechanic: Class 10 plus two years of ITI electronic mechanic course.</li><li>Instrument Mechanic: Class 10 plus two years of ITI instrument mechanic course.</li><li>Machinist: Class 10 plus two years of ITI instrument mechanic course.</li><li>Accountant: Graduate in any discipline with minimum 50% aggregate marks from a recognised institute/university.</li><li>Data Entry Operator (Fresher): Minimum 12th pass, but below graduate.</li><li>Data Entry Operator (Skilled Certificate Holders): Minimum 12th pass, but below graduate. Candidates should possess a skill certificate of ‘domestic data entry operator’ for training of less than one year issued by an awarding body recognised under National Skill Qualifications Framework or any other authority recognised by the central government.</li><li>Retail Sales Associate (Fresher): Minimum 12th pass but below graduate.</li><li>Retail Sales Associate (skilled certificate holders): Minimum 12th pass (but below graduate). Additionally, candidates should possess a skill certificate of ‘retail trainee associate’ for training of less than one year issued by an awarding body recognised under National Skill Qualifications Framework or any other authority recognised by the central government.</li></ul>2. For Technician apprentice<ul><li>Technician apprentice (Mechanical): 3 year-diploma in mechanical engineering with minimum 50% marks from any recognised university/institute.</li><li>Electrical: 3 years’ diploma in electrical engineering with minimum 50% marks from any recognised university/institute.</li><li>Instrumentation: 3 years’ diploma in instrumentation engineering with minimum 50% marks from any recognised university/institute.</li><li>Civil: 3 years’ diploma in civil engineering with minimum 50% marks from any recognised university/institute.</li><li>Electrical and electronics: 3 years diploma in electrical &amp; electronics engineering with minimum 50% marks from any recognised university/institute.</li><li>Electronic: 3 years’ diploma in electronics engineering with minimum 50% marks from any recognised university/institute.</li></ul>3. Applicants who have completed three years after acquiring the prescribed qualification for engagement of technician apprenticeship i.e., diploma in engineering in relevant disciplines are not eligible for engagement as technician apprentice. 4. Candidates with qualification acquired through distance learning mode or part time mode or correspondence mode will not be considered. 5. Candidates possessing higher professional qualifications such as Bachelor of Engineering (B.E)/Master of Business Administration (MBA)/Master of Computer Application (MCA)/Chartered Accountant (CA)/Institute of Cost and Works Accountants (ICWA)/Bachelor of Legislative Law or Legum Baccalaureus (LLB) will not be considered. 6. Minimum age is 18 years and maximum age criteria is 24 years, as on November 30, 2021. Selection procedure The selection shall be on the basis of performance of the candidates on the basis of marks obtained by them in the written test and meeting the eligibility criteria. The written test will be conducted on January 9, 2022, in a multiple choice format (MCQs). Interested candidates can seek more information <a href="https://iocl.com/admin/img/Apprenticeships/Files/5e2a63d05ddd4450b45e90e4c7d31c65.pdf">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/sbi-is-hiring-1200-circle-based-officers-across-india-with-a-minimum-pay-of-36000-per-month/articleshow/88313666.cms">SBI is hiring 1200 circle based officers across India with a minimum pay of ₹36,000 per month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/michelle-obama-is-the-most-admired-woman-in-the-world/slidelist/88302252.cms">Michelle Obama is the most admired woman in the world</a>

Indian Oil Corporation is hiring 300 apprentices across southern states of India

Country's largest public sector refiner <keyword id="6356834" type="DOMAIN" weightage="20" keywordseo="indian-oil-corporation">Indian Oil Corporation</keyword> (<keyword id="6354733" type="DOMAIN" weightage="20" keywordseo="ioc">IOC</keyword>) plans to hive off <keyword id="169046" type="COMPANY" weightage="20" keywordseo="hydrogen">hydrogen</keyword> producing units and sulphur recovery facilities at its refineries to a separate entity and then sell stakes in it to the private sector to raise close to ₹10,000 crore. The plan is in line with <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword>'s asset monetisation programme where it wants PSUs to identify non-core assets that could be sold to raise resources for next wave of investments. Government sources said that IOC is one of the largest hydrogen producers in the country and some of these assets could be allowed to be shared with the private sector that is also looking at getting into hydrogen production realising its vast uses. Sources said IOC had proposed monetising some of its hydrogen producing units in lieu of its product pipelines which the government wants the company to monetise. Government expects <keyword id="6354412" type="DOMAIN" weightage="20" keywordseo="indian-oil">Indian Oil</keyword>, GAIL and <keyword id="6374014" type="DOMAIN" weightage="20" keywordseo="hindustan-petroleum">Hindustan Petroleum</keyword> to raise Rs 17,000 crore by selling stakes in their pipelines through the infrastructure <keyword id="2948615" type="DOMAIN" weightage="20" keywordseo="Investment-trust">investment trust</keyword> route in the next financial year. IOC, however, wants to retain its pipping operations and has proposes direct monetising hydrogen units instead. <keyword id="34539" type="COMPANY" weightage="20" keywordseo="oil-industry">Oil Industry</keyword> sources said that the PSUs proposal is being examined and a decision would be taken soon. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/check-out-all-the-hiring-opportunities-in-2021-in-india/slidelist/81343839.cms">A whole host of jobs, from government to private to foreign companies in India, are opening up ⁠— here’s a look at some of those</a> <a href="https://www.businessinsider.in/business/startups/news/these-are-the-worlds-top-food-delivery-companies-indias-zomato-and-swiggy-have-a-long-way-to-go-as-compared-to-their-global-counterparts-like-doordash-or-meituan/slidelist/81344728.cms">These are the world’s top food delivery companies – India’s Zomato and Swiggy have a long way to go as compared to their global counterparts like DoorDash or Meituan</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-has-outperformed-its-peers-in-the-last-one-year-but-analysts-are-still-cautious-about-giving-it-a-buy-rating/articleshow/81345564.cms">Wipro's share price has outperformed its peers in the last year — but analysts are still cautious about giving it a 'buy' rating</a>

Indian Oil Corporation may monetise hydrogen units to raise ₹10,000 crore

<a href="http://www.businessinsider.in/searchresult.cms?query=Indian+Oil+Corporation">Indian Oil Corporation</a> (IOC) and <a href="http://www.businessinsider.in/searchresult.cms?query=Reliance+Industries">Reliance Industries</a> (RIL) rank 1st and 2nd in terms of revenue for 6 years in a row in the list of <a href="http://www.businessinsider.in/searchresult.cms?query=Fortune+500+">Fortune 500 </a>Indian companies 2015. 
 
IOC came first with an annual revenue of Rs 4,51,911 Crores. <a href="http://www.businessinsider.in/searchresult.cms?query=Reliance+Industries">RIL</a> stood second with Rs. 3,82,565 Crores. Tata Motors jumped to the third position with a revenue of Rs 2,67,025 Crores. Bharat Petroleum (BPCL) and State Bank of India (SBI) came fourth and fifth. 
 
"While the total revenue of <a href="http://www.businessinsider.in/searchresult.cms?query=Fortune+500+">Fortune India 500 </a>companies has nearly doubled from Rs 38,16,000 crore in 2010 to Rs 71,27,000 crore in 2015, the same cannot be said of profits, which went up by a meagre 3.6 per cent over the period," the magazine noted. 
 
Other notable companies in the top 10 include Hindustan Petroleum at 6th with a revenue of Rs 2,13,380 crore, followed by ONGC at Rs. 1,65,161 Crores, Tata Steel at Rs 1,41,669 Crores, Hindalco Industries at Rs 1,06,897 Crores and TCS at Rs 98,368 Crores. 
 
Image credit: Indiatimes

IOC and RIL rank 1st
and 2nd for 6 years in a row among Fortune 500 India

<ul><li>Indian Oil Corporation is hiring 570 apprentices in both technical, non-technical trade and technician positions.</li><li>The last date to apply for the programme is February 15, 2022.</li><li>Candidates will be given a consolidated stipend with additional ₹2,500 per month for conveyance expenses.</li></ul>Indian Oil Corporation of India is inviting applications from eligible candidates to fill up 570 apprenticeships in both technical, non-technical trade and technician positions at these locations — Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, Goa and Dadra &amp; Nagar Haveli. The online application started on January 15 and the last date to fill the <a href="https://www.rectt.in/">application form</a> is February 15. Applicants can’t be older than 24 as on January 31. If you have completed graduation, or if it has been more than three years since your last academic qualification, you are not eligible to apply for these roles. Applicants with more than one year’s work experience will not be considered. The duration of the apprenticeship programme is 12 months and all the trade and technician apprentices will be paid a consolidated stipend with additional ₹2,500 per month for stationery, conveyance &amp; miscellaneous expenses. Candidates will have to appear for a 90 minute online objective written test. The candidates will have to secure a minimum of 40% marks in the test to qualify for the selection process. The minimum qualifying marks shall be 35% for candidates belonging to SC/ST/PwBD categories against reserved positions. Interested candidates can seek more information <a href="https://iocl.com/admin/img/Apprenticeships/Files/02c2bc102a7243dd8237277a0f1eca67.pdf">here</a>. These are some of the vacancies — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maharashtra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">322 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">121 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Madhya Pradesh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chattisgarh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goa </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dadra &amp; Nagar Haveli </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td></tr></tbody></table> Eligibility criteria or educational qualification required for these roles — 1. Technician Apprentice (Mechanical) — Three years of diploma in mechanical engineering from recognised institute/university with minimum 50% marks in aggregate for general &amp; other backward class (OBC) candidates &amp; 45% in case of scheduled castes (SC)/scheduled tribes (ST) candidates against reserved positions. 2. Technician Apprentice (Electrical) — Three years of diploma in electrical engineering from recognised institute/university with minimum 50% marks in aggregate for general &amp; OBC candidates &amp; 45% in case of SC/ST candidates against reserved positions. 3. Technician Apprentice (Instrumentation) — Three years of diploma in instrumentation engineering from recognised institute/university with minimum 50% marks in aggregate for general &amp; OBC candidates &amp; 45% in case of SC/ST candidates against reserved positions. 4. Technician Apprentice (Civil) — Three years of diploma in civil engineering from recognised institute/university with minimum 50% marks in aggregate for general &amp; OBC candidates &amp; 45% in case of SC/ST candidates against reserved positions. 5. Technician Apprentice (Electrical &amp; Electronics) — Three years of diploma in electrical &amp; electronics engineering from recognised institute/university with minimum 50% marks in aggregate for general &amp; OBC candidates &amp; 45% in case of SC/ST candidates against reserved positions. 6. Technician Apprentice (Electronics) — Three years of diploma in electronics engineering from recognised institute/university with minimum 50% marks in aggregate for general &amp; OBC candidates &amp; 45% in case of SC/ST candidates against reserved positions. 7. Trade Apprentice (Fitter) — Regular full time Industrial Training Institutes (ITI) Fitter recognised by National Council of Vocational Training (NCVT)/State Council of Vocational Training (SCVT). 8. Trade Apprentice (Electrician) — Regular full time ITI (Electrician) recognised by NCVT/SCVT. 9. Trade Apprentice (Electronics Mechanic) — Regular full time ITI (Electronics Mechanic) recognised by NCVT/SCVT. 10. Trade Apprentice(Instrument Mechanic) — Regular full time ITI (Instrument Mechanic) recognised by NCVT/SCVT. 11. Trade Apprentice (Machinist) — Regular full time ITI (Machinist) recognised by NCVT/SCVT. 12. Trade Apprentice (Accountant) — Graduate in any discipline with minimum 50% marks in aggregate for general &amp; OBC candidates and 45% in case of SC/ST/PwBD candidates for reserved positions from a recognised Institute/University. 13. Trade Apprentice (Data Entry Operator) — Class XII pass or equivalent skill certificate holder in ‘domestic data entry operator’. 14. Trade Apprentice (Retail Sales Associate) — Minimum 12th pass with skill certificate of ‘Retail Trainee Associate’ for training of less than one year issued by an awarding body recognised under National Skill Qualifications Framework or any other authority recognised by the Central Government. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/amid-amazon-sale-of-2022-offline-retailers-have-lost-50-of-their-business/articleshow/88947494.cms">Small offline retailers lost 50% of their business in the first 15 days of January due to COVID-19</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/list-of-upcoming-instagram-features/articleshow/88946754.cms">Rearrange posts to new feed options — Upcoming Instagram features</a>

There are 570 job openings at Indian Oil Corporation for freshers who haven’t graduated yet

(Image source- Reuters) <ul><li>The board of the state-owned <keyword id="6356834" type="COMPANY" weightage="20" keywordseo="indian-oil-corporation">Indian Oil Corporation</keyword> (IOC) has approved a plan to buy back a little over 3% of its total equity shares. </li><li>The fuel retailer will spend around ₹44.4 billion on the buyback plan, culminating in its largest buyback in 17 years. </li><li>The move also includes a dividend payout of ₹6,75 per share, resulting in a total payout of ₹65.6 billion. </li><li>This will result in a huge cash infusion for IOC’s shareholders, especially the central <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword>, which holds a 54% stake in the oil firm. </li></ul>On 13 December, the state-owned Indian Oil Corporation (IOC) <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/22e1d47f-e2d1-4ec5-b78c-f27d5217edb5.pdf">announced</a> in a stock exchange filing that its board had approved a plan to buy back a little over 3% of its total equity shares. India’s largest fuel retailer will spend around ₹44.4 billion on the buyback plan, culminating in its biggest buyback in 17 years. The move also includes a dividend payout of ₹6,75 per share, resulting in a total payout of ₹65.6 billion. It will result in a huge cash infusion for IOC’s shareholders, especially the central government, which holds a 54% stake in the oil firm. However, it could add unnecessary strain to IOC’s finances. At the end of September 2018, it had total debts of <a href="https://iocl.com/download/Q2Results18-19.pdf">around ₹600 billion</a>, compared with a paltry cash balance. It remains to be seen how exactly it will fund the transaction, but it will likely incur a lot more <keyword id="44647" type="ORGANIZATION" weightage="20" keywordseo="debt">debt</keyword>. This, coupled with its <a href="https://www.firstpost.com/business/indian-oil-corps-net-debt-levels-to-rise-due-to-large-capital-expenditure-and-investment-plans-in-medium-term-fitch-4752471.html">high capital expenditure plans</a> in the medium term, could leave it a rather unviable position. The impetus behind the transaction is to help the government, acting through the the Department of Investment and Public Asset Management (DIPAM), meet its <keyword id="44532" type="PERSON" weightage="20" keywordseo="Disinvestment">disinvestment</keyword> target of ₹800 billion for fiscal 2019. It has reportedly collected 68% of that amount so far this year. The DIPAM is reportedly planning to earn as much as ₹50 billion from share buyback programmes of large state-owned enterprises energy firms like Coal India and Bharat Heavy Electricals, according to the Press Trust of India. As per a government order, all public sector enterprises with a cash balance of over ₹10 billion have to undertake share buybacks. Last week, the government also decided to sell a 52.63% stake in infrastructure financier Rural Electrification Corp (REC) to another state-run power lender, Power Finance Corporation (PFC). However, just like IOC, the issue of debt could be a problem here. PFC will have to raise a significant amount of debt to finance the purchase, a tough ask for a firm weighted down by ₹283 billion worth of gross non-performing loans. SEE ALSO: <a href="https://www.businessinsider.in/heres-why-the-indian-governments-intervention-to-stop-rising-fuel-prices-may-only-be-a-temporary-relief/articleshow/66082071.cms">Here’s why the Indian government’s intervention to stop rising fuel prices may only be a temporary relief</a> <a href="https://www.businessinsider.in/indias-reliance-is-teaming-up-with-bp-in-a-move-that-could-send-the-countrys-state-owned-fuel-giants-into-a-tailspin/articleshow/66331991.cms">India's Reliance is teaming up with BP in a move that could send the country's state-owned fuel giants into a tailspin</a> <a href="https://www.businessinsider.in/indias-government-is-asking-its-largest-oil-company-to-sell-fuel-below-global-prices/articleshow/64300993.cms">India’s government is asking its largest oil company to sell fuel below global prices</a>

India’s largest fuel retailer is undertaking its biggest share buyback since 2001 in order to help the central government meet its disinvestment target

<ul><li>Indian billionaire <keyword id="29201" type="PERSON" weightage="20" keywordseo="Lakshmi-Mittal">Lakshmi Mittal</keyword>, CEO and Chairman of <keyword id="47654" type="COMPANY" weightage="20" keywordseo="ArcelorMittal">ArcelorMittal</keyword> is third highest on <keyword id="7925744" type="UNKNOWN" weightage="20" keywordseo="ceoworld-magazine">CEOWORLD magazine</keyword>’s global ranking of the best chief executives for 2019. </li><li>The CEOWORLD rankings placed <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> CEO Douglas McMillon as the highest ranking CEO, globally. </li><li>Other Indian CEOs include <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>’ <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, <keyword id="6356834" type="COMPANY" weightage="20" keywordseo="indian-oil-corporation">Indian Oil Corporation</keyword> (IOC) Chairman Sanjiv Singh, Shashi Shanker of Oil and Natural Gas Corporation(ONGC).</li></ul>Billionaire Lakshmi Mittal who leads ArcelorMittal is one of the top three CEOs in the world, according to the <a href="https://ceoworld.biz/2019/07/25/best-ceos-in-the-world-2019/">CEOWORLD magazine’s global ranking</a> 2019. He is followed by Reliance Industries’ Mukesh Ambani, Indian Oil Corporation (IOC) Chairman Sanjiv Singh, Shashi Shanker of <keyword id="64243" type="COMPANY" weightage="20" keywordseo="Oil-and-Natural-Gas-Corporation">Oil and Natural Gas Corporation</keyword> (ONGC) and Rajnish Kumar of <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI). 
	<div type="twitter" handle="ONGC_" handlename="ONGC" image="http://pbs.twimg.com/profile_images/523484376672137216/ykvMIhdY_normal.jpeg" favoritecount="279" retweetcount="41" status="Shashi Shanker, @CMD_ONGC , makes it to the 100 Most Influential Chief Executives across industries as per… https://t.co/RdwV9mcdUL" createdat="1564236074000" id="1155115935012753408"></div>



 The top ranking went to Walmart CEO Douglas McMillon. He is followed by Royal Dutch Shell’s Ben van Beurden. The rankings include 121 best CEO’s across the globe, filtered from over 1,200 across 96 countries. The ranking is based on the financial returns for the CEO’s tenure — which carries 60% weightage. The rest is influenced by factors like company’s governance policies, market capitalisation, social issues and others. Here’s a list of Indian CEOs that featured in CEOWORLD magazine’s global ranking: 
	<div type="Slideshow" msid="70444924" hostid="261" title="Here's the list of the top Indian CEOs featured in CEOWORLD global rankings" firstImageMsid="70445233" slideCount="11"></div>

Here's the list of the top Indian CEOs featured in CEOWORLD global rankings

<ul><li><keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>’s <keyword id="6359072" type="UNKNOWN" weightage="20" keywordseo="oil">oil</keyword> minister, Dharmendra Pradhan, recently said that India would continue to purchase oil from <keyword id="41896" type="LOCATION" weightage="20" keywordseo="Iran">Iran</keyword> despite sanctions. </li><li>However, Indian refiners will make up for the decline in Iranian oil imports by including options for additional volumes in their contracts with suppliers from <keyword id="50996" type="LOCATION" weightage="20" keywordseo="Saudi-Arabia">Saudi Arabia</keyword> and <keyword id="6355112" type="LOCATION" weightage="20" keywordseo="Iraq">Iraq</keyword>, according to the Press Trust of India. </li><li>Iran is India’s third-largest supplier of oil behind Saudi Arabia and Iraq.</li></ul> US sanctions on Iranian imports and payment routes kick in early next month, and in response, the Indian government has been devising feasible methods to supplement the shortfall in Iranian oil, which is relatively cheaper than oil sourced from other countries. Given its hesitation on granting India a permanent waiver, the US <a href="https://www.businessinsider.in/the-us-is-determined-to-help-india-find-a-substitute-for-iranian-oil/articleshow/66085293.cms">is intent on helping India find a substitute</a>. However, it is not opposed to granting India a short-term breather as it transitions to different suppliers. While the country’s oil minister, Dharmendra Pradhan, recently said that India would <a href="https://www.cnbc.com/2018/10/08/india-oil-minister-india-will-import-irans-oil-despite-us-sanctions.html">continue to purchase oil from Iran</a> despite sanctions, Indian refiners are taking concrete steps to make up for the decline in Iranian oil imports by turning to other countries in the Middle East, namely Saudi Arabia and Iraq. <keyword id="6356834" type="COMPANY" weightage="20" keywordseo="indian-oil-corporation">Indian Oil Corporation</keyword> (IOC) and other refiners have structured their contracts with suppliers in these two countries to allow for additional volumes should they need to plug a shortfall in supplies, according to a report by the Press Trust of India citing officials from these companies. The options for additional supplies can be made effective at any point in the year and are stipulated to cover a full five months worth of oil supplies sourced from Iran. Last week, Reuters <a href="https://www.reuters.com/article/us-india-saudi-oil/saudi-arabia-to-supply-extra-oil-cargoes-to-india-in-november-as-iran-sanctions-loom-idUSKCN1MK0QN?rpc=401&amp;">reported</a> that Saudi Arabia would ship an additional 4 million barrels of oil to India in November following the imposition of sanctions. The move indicates a continued willingness to boost supplies to India. However, this is dependent on global oil prices staying within a manageable range. India already gets 25 million barrels a month from Saudi Arabia. Interestingly, Iran is India’s third-largest supplier of oil behind Saudi Arabia and Iraq. India sources more than four-fifths of its crude oil requirements from abroad, and a full 10% from Iran. In September, Iraq <a href="https://www.firstpost.com/business/iraq-replaces-saudi-arab-as-top-oil-supplier-to-india-in-august-iran-remains-third-biggest-seller-despite-heavy-cuts-5156791.html">pipped Saudi Arabia</a> as India’s largest oil supplier. A number of Indian petrochemical companies have stopped sourcing oil from Iran altogether. In July, Reliance Industries, which operates the country’s largest refinery, said it would completely halt all Iranian imports when US sanctions kicked in.

India will count on Saudi Arabia and Iraq to make up for a decline in Iranian oil imports

The export of <keyword id="6367091" type="General" weightage="20" keywordseo="petrol" source="Orion">petrol</keyword> by Indian oil marketing companies (<keyword id="88586" type="General" weightage="20" keywordseo="OMCs" source="Orion">OMCs</keyword>) rose 142% in a year between 2020-21 and 2021-22, while there was a minuscule rise of less than 1% in the export of diesel during the same period. According to official figures, the OMCs exported 668 thousand metric tonnes (TMT) of petrol in 2021-22, which was 142% more than 276 TMT of petrol exported by the country in 2020-21. In 2020-21, the OMCs exported 1,985 TMT of diesel, while in 2021-22, it exported 1,994 TMT of diesel, a growth of less than 1% over the previous year. The three OMCs, namely the <keyword id="6356834" type="General" weightage="50" keywordseo="indian-oil-corporation" source="Orion">Indian Oil Corporation</keyword>, <keyword id="6374014" type="General" weightage="80" keywordseo="hindustan-petroleum" source="Orion">Hindustan Petroleum</keyword>, and <keyword id="156368" type="General" weightage="50" keywordseo="bharat-petroleum-corporation" source="Orion">Bharat Petroleum Corporation</keyword>, export petrol and diesel to several nations across the world. OMCs export surplus petrol and diesel to other countries only after meeting domestic demand in the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/verdict-on-demonetisation-cannot-be-interpreted-as-upholding-the-move-cpim/articleshow/96682871.cms">Verdict on demonetisation cannot be interpreted as upholding the move: CPI(M)</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rishabh-instruments-files-draft-papers-with-sebi-to-mobilise-funds-via-ipo/articleshow/96683706.cms">Rishabh Instruments files draft papers with SEBI to mobilise funds via IPO</a>

Petrol export by OMCs rose 142% between 2020-21 and 2021-22

New Delhi, Dec 16 () The BSE on Monday said Housing Development Finance Corporation, Indian Oil Corporation, Axis Finance, and GIC Housing Finance have made applications to list commercial papers for a total issue size of Rs 4,075 crore.
 Of this, the issue size for HDFC is Rs 2,000 crore, Rs 1,600 crore for Indian Oil Corporation, Rs 275 crore for Axis Finance and Rs 200 crore for GIC Housing Finance.
 The effective date for listing of the commercial paper at the exchange is December 17, the exchange said in a media release.
 Commercial paper is an unsecured money market instrument, issued in the form of promissory notes, that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.
 Such instruments can be issued for maturities between a minimum of 7 days and a maximum of one year from the date of issue. These are usually issued at a discount from face value and reflect prevailing market interest rates.
 "Till date, 12 issuers have done 23 issuances of commercial paper and have successfully listed Rs 14,220 crore on BSE. The weighted average yield of these issuances is 5.20 per cent with an average tenor of 98 days," the BSE said. SRS HRS

You Searched For "Indian Oil Corporation" and got 11 results

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Indian Oil Corporation is hiring 300 apprentices across southern states of India

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IOC and RIL rank 1st and 2nd for 6 years in a row among Fortune 500 India

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There are 570 job openings at Indian Oil Corporation for freshers who haven’t graduated yet

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India’s largest fuel retailer is undertaking its biggest share buyback since 2001 in order to help the central government meet its disinvestment target

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Here's the list of the top Indian CEOs featured in CEOWORLD global rankings

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India will count on Saudi Arabia and Iraq to make up for a decline in Iranian oil imports

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Petrol export by OMCs rose 142% between 2020-21 and 2021-22

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Four firms to list commercial papers on BSE for total issue size of Rs 4,075 cr

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