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

Share prices of the oil marketing companies (OMC) dropped on Tuesday with the scrip of privatisation-bound <keyword id="155363" type="DOMAIN" weightage="20" keywordseo="Bharat-Petroleum-Corporation-Ltd">Bharat Petroleum Corporation Ltd</keyword> (<keyword id="44555" type="DOMAIN" weightage="20" keywordseo="BPCL">BPCL</keyword>) falling over 5 per cent. At 2.16 p.m., BPCL shares on the BSE were trading at ₹441.05, lower by ₹25.95 or 5.56 per cent from its previous close. Its shares fell amid reports of the company selling 4 per cent of treasury shares worth ₹3,774 crore in a bulk deal. Shares of other OMCs also declined on Tuesday with stocks of <keyword id="458519" type="DOMAIN" weightage="20" keywordseo="Indian-Oil-Corporation-ltd">Indian Oil Corporation Ltd</keyword> (<keyword id="181809" type="DOMAIN" weightage="20" keywordseo="IOCL">IOCL</keyword>) trading 3.67 per cent lower at ₹99.75 per share. Hindustan Petroleum Corporation's (<keyword id="6362419" type="DOMAIN" weightage="20" keywordseo="hpcl">HPCL</keyword>) shares were trading at ₹234.60, lower by 3.62 per cent from its previous close. Further, revenues of OMCs are likely to remain under pressure for some time now as official sources indicated that with fuel price rise becoming an election issue, the Centre would not like to further escalate the matter with more increases in the auto fuel prices required in the wake of firming of prices in the global oil market. The halt in retail price hikes, at a time when crude oil prices are surging would put immense pressure on the margins of the oil marketing companies, experts said. The May delivery contract of Brent crude on the Intercontinental Exchange is currently trading above $68 per barrel. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-fixed-a-price-band-of-14881490-a-share-for-its-150-crore-ipo/articleshow/81408729.cms">Auto components maker Craftsman Automation’s ₹150 crore IPO to hit the capital markets next week — price band fixed at ₹1,488–1,490</a> <a href="https://www.businessinsider.in/india/news/india-is-using-the-quad-alliance-to-get-help-from-the-us-japan-and-australia-to-match-chinas-covid-19-vaccine-push/articleshow/81408044.cms">India is asking the QUAD for money to boost vaccine production and counter China’s moves on the global stage</a> <a href="https://www.businessinsider.in/business/corporates/news/elon-musks-net-worth-has-eroded-60-billion-in-just-two-months-as-teslas-market-cap-falls-35/articleshow/81407453.cms">Elon Musk’s wealth has eroded $60 billion in just two months as Tesla's market cap falls 35%</a>

Bharat Petroleum plunge 5% amid reports of the company selling 4% of treasury shares

Coimbatore, Feb 28 (): Indian Oil Corporation Ltd(IOCL) is in the process of developing LPG from bio mass andwould succeed in another two to three years, a senior officialin the R and D wing of IOCL said on Friday. This is being done in tune with the decision of WorldLPG Association to have at least 50 per cent of LPG frombio mass, including vegetable waste, by 2040, S S V Ramkumarsaid. Accordingly, the country has taken a lead and in theprocess of developing the LPG from bio mass, which would bearfruit in another two to three years, he told reporters on thesidelines of a two-day IOCL National LPG Conclave 2020. IOCL wanted at least 10 per cent of LPG to beproduced from bio mass and put in use, as this would be cost-effective, he said. Earlier, addressing the conclave, Ramkumar said thethe demand for cooking LPG has reached a saturation-level inthe country and there was the need to find out the areas wherethe LPG can be utilised, like in autos. Chennai Petroleum Corporation Ltd managing director SN Pandey, in his address, said the demand for kerosene hadcome down of late due to availability of alternate fuels. Kerosene would not be used after 2040, hesaid. Ratnagiri Refineries and Petrochemicals Ltdchairman B Ashok said there were opportunities for expansionthe area of LPG, a sector which was growing by three to fourper cent. NVMNVG NVG

Research on to produce biomass LPG in 2-3 years: IOCL official

New Delhi, Jul 3 () A paper published by the International Olympic Committee in collaboration with the UN and INTERPOL has warned against salary cuts and delay in payment to sports professionals as it might lead to increase in corruption when action resumes in the post COVID-19 world. The paper published jointly by the IOC, INTERPOL and the United Nations Office on Drugs and Crime stressed on the need to safeguard the integrity of sport during the pandemic. "As salaries of sports professionals may be impacted, through reductions or delays in payments, and the economic situation places pressure on sport, criminal groups and corruptors may seek to exploit this situation to gain influence," the paper said. "It is recommended to the extent possible, to consider avoiding decreasing salaries of those most vulnerable and severely affected and if required to make these temporary whenever possible." It said the temporary absence of sports events does not necessarily eliminate sports integrity issues, and the re-starting of competitions will require special vigilance. The paper recommended developing an effective national cooperation framework between law enforcement, criminal justice authorities and sports organizations in the post COVID-19 world. The three world bodies said if salary cuts are implemented for top athletes, it is also recommended that the ensuing savings be used to support the most vulnerable and severely affected athletes, sports organisations and related employees. The document said the world of sport constitutes a multibillion-dollar industry, employing vast numbers across many interlinked sectors including marketing, tourism, media, sponsorship, events management and clothing, to name but a few. "Placing integrity at the core of sport's response to the global COVID-19 pandemic is crucial to ensure that sport emerges from this challenge as strong as possible and is ready to play its fundamental role in society," the paper stated. "Many sports organizations and associated businesses and associations have been profoundly affected by the global crisis and require rapid, direct assistance, without which some may find it difficult, if not impossible, to recover during the post-pandemic phase." The tri-party study also recommended adoption of relevant regulations in relation to prohibitions of betting, sharing inside information, and corrupt conduct/competition manipulations. "...ensure that anti-bribery regulations of sport organisations are well respected and implemented and in case of a potential breach effectively investigated. "...the respect of regulations in relation to conflict of interest as well as on fair procurement must be ensured and not compromised during the pandemic and the recovery follow-up process." It also asked the sports bodies and governments to intensify awareness-raising sessions for the athletes, their entourage and sport organisations' officials through "virtual awareness-raising activities". "It is recommended to enforce national legislation criminalising bribery and other forms of corruption, by preventing, investigating and prosecuting corrupt acts involved in sports, and that these be coordinated when feasible with sporting bodies conducting related disciplinary measures." PDS PM PM

IOC-led paper fears salary cuts for athletes during COVID-19 crisis could fuel corruption, manipulation

India’s nuclear energy expansion programme could very soon be funded by Indian Railways and companies in the energy sector like <keyword id="6354737" type="CITY" weightage="20" keywordseo="ONGC">ONGC</keyword>, <keyword id="181809" type="COMPANY" weightage="20" keywordseo="IOCL">IOCL</keyword> and <keyword id="3715905" type="UNKNOWN" weightage="20" keywordseo="NTPCL">NTPCL</keyword>. 
 Talks have already been initiated between state-run Nuclear Power Corporation of India Ltd (<keyword id="48159" type="COMPANY" weightage="20" keywordseo="NPCIL">NPCIL</keyword>) and cash-rich public sector undertakings in energy sector and the national transported so as to come up with a joint ventures for setting up nuclear power plants throughout the country. 
 "We are in active dialogue with many public sector undertakings. The amended Atomic Energy Act allows NPCIL to collaborate with Indian <keyword id="44880" type="CITY" weightage="20" keywordseo="PSUs">PSUs</keyword>,” NPCIL director-projects <keyword id="3715906" type="UNKNOWN" weightage="20" keywordseo="rohit-banerjee">Rohit Banerjee</keyword> told ET. 
 
NPCIL is aiming towards increasing the power generation in the country to 63 GW from the country installed capacity of 6,780 MW and hence is looking forward at leveraging equity from cash-rich PSUs in line. 
 
Many projects are under construction and NPCIL is hoping to set up another 6,700 MW through these projects. It is facing issues regarding land availability, technology sharing issues and low-cost financing. The company currently executes nuclear reactors through a mix of debt and equity, budgetary support and debt financing from the technology sourcing country. 
 For the expansion of the definition of a government company providing for creation of joint ventures that are majorly owned by NPCIL, the Atomic Energy Act 1962 was amended this January. At present only two PSUs - NPCIL and Bharatiya Nabhikiya Vidyut Nigam Ltd, under the administrative control of the <keyword id="6429238" type="ORGANIZATION" weightage="20" keywordseo="Department-of-Atomic-Energy">Department of Atomic Energy</keyword> are authorized to set up nuclear power plants in the country. 
 
Earlier joint ventures by NPCIL had been floated with NTPC, IOC and Nalco to set up nuclear power plants but it could work as the law prohibits such joint ventures. 
(image:indiatimes)

Indian Railways likely to fund nuclear energy expansion and this will make sense

<keyword id="20083426" type="General" weightage="20" keywordseo="indian-oil" source="keywords">Indian Oil</keyword> Corporation (IOC) is set to start producing fuel for <keyword id="20115890" type="General" weightage="20" keywordseo="formula" source="keywords">Formula</keyword> 1 (F1) cars in three months. The fuel will be produced at the Paradip refinery in Odisha, which is known for its advanced technology and strategic location. Indian Oil Corporation (IOCL) will produce fuel for Formula One cars, which are being produced at Odisha's Paradip refinery, said SM <keyword id="20076681" type="General" weightage="20" keywordseo="vaidya" source="keywords">Vaidya</keyword>, Chairman, IOCL, as he announced the partnership with Two Wheels Motor Racing as the "Official Fuel Partner" for the prestigious <keyword id="20243142" type="General" weightage="20" keywordseo="fim" source="keywords">FIM</keyword> (Federation Internationale De Motocyclisme) Asia Road Racing Championship (ARRC) over a span of three years, from 2024 to 2026. The certification for the special fuel to be used for Formula one cars will be done within three months, Vaidya said. This collaboration entails Indian Oil providing FIM category 2 race fuel, "STORM-Ultimate Racing Fuel," across all Asia Road Racing Championship rounds. "<keyword id="20271693" type="General" weightage="20" keywordseo="storm" source="keywords">STORM</keyword>", which is produced at Indian Oil's Gujarat refinery, is a highlight of Indian Oil's diverse and ambitious product range, which also includes AVGas 100LL and reference fuels, reflecting India's commitment to self-reliance (Atma Nirbhar Bharat) and technological advancement. The arrival of 'STORM,' in the international arena marks a significant stride towards bolstering the 'Make in India' initiative. This race fuel also showcases IndianOil's innovation and expertise in producing specialized fuels that adhere to stringent international norms, receiving approval from the FIM-approved M/s Intertek in Switzerland. Speaking on the occasion, <keyword id="20248815" type="General" weightage="20" keywordseo="shrikant-madhav-vaidya" source="keywords">Shrikant Madhav Vaidya</keyword>, Chairman of Indian Oil said, "As we embark on this exhilarating partnership with TWMR for the FIM Asia Road Racing Championship, Indian Oil is proud to fuel the fast lanes of motorsport with our cutting-edge 'STORM-Ultimate Racing Fuel'. The fuel stands as a symbol of innovation and excellence, embodying our relentless pursuit of developing specialised fuels that meet stringent international standards. This collaboration marks a significant step in strengthening the 'Make in India' initiative on the global stage." The benefits of using STORM- Ultimate Racing Fuel in racing vehicles are multifaceted. It ensures the cleanliness of engine parts and the fuel delivery system, while also providing corrosion protection for the vehicle's metallic components. This leads to tangible improvements in vehicle performance, including faster acceleration, increased power, and smoother drivability. Additionally, it contributes to lower engine deposits and reduced exhaust emissions, promoting both engine longevity and environmental sustainability. In preparation for the upcoming Thailand event of ARRC scheduled from March 15-17, IndianOil has shipped off "STORM" fuel from Nhava Sheva port in Mumbai on February 23, 2024, with a virtual flag-off by Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas. IOCL Chairman said that the company is not going to stop here until it can produce fuel for the world's prestigious Formula One car racing championship. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-12-5g-and-realme-12-5g-launched-in-india-starting-at-16999/articleshow/108261608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-12-5g-and-realme-12-5g-launched-in-india-starting-at-16999/articleshow/108261608.cms" target="_blank">Realme 12 5G and Realme 12+ 5G launched in India starting at ₹16,999</a><a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms" target="_blank">Nothing Phone (2a) smartphone debuts in India, priced starting at ₹23,999</a><a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms" target="_blank">Electric two-wheeler sales grow by 24% in February 2024, Ola Electric leads with over 40% market share</a>

Indian Oil set to produce fuel for Formula 1 cars

<keyword id="12760343" type="General" weightage="20" keywordseo="National-Highways-Infra-Trust" source="Orion">National Highways Infra Trust</keyword> (<keyword id="49448" type="General" weightage="20" keywordseo="NHAI" source="Orion">NHAI</keyword> InvIT), the infrastructure investment trust sponsored by <keyword id="83263" type="General" weightage="20" keywordseo="National-Highway-Authority-of-India" source="Orion">National Highway Authority of India</keyword> (NHAI) to support the Central government's <keyword id="11929270" type="General" weightage="20" keywordseo="National-Monetization-Pipeline" source="Orion">National Monetization Pipeline</keyword>, has raised a sum of ₹1,430 crore from domestic and international investors through placement of its units, for part funding its acquisition of three additional road projects from NHAI. The placement of units with institutional investors, witnessed strong demand from both existing investors, who reposed their commitment by participating in the process, as well as new investors. The units have been subscribed by a gamut of institutional investors including Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan Board, State Bank of India, SBI Pension Fund, SBI Mutual Fund, IOCL Employee Provident Fund, L&amp;T Staff Provident Fund, Rajasthan Rajya Vidyut Karamchari Pension Fund, TATA AIG and <keyword id="5050251" type="General" weightage="80" keywordseo="star-union-daiichi-life-insurance" source="Orion">Star Union Daiichi Life Insurance</keyword>. NHAI subscribed to the units through preferential allotment to maintain its unitholding of at least 15 per cent. The units were subscribed through a book build process at Rs 109 per unit, at a premium over floor price of Rs 107.12 per unit. In addition to the above, NHAI InvIT has also filed a prospectus with SEBI for issuance of Non-Convertible Debentures (NCDs) to raise Rs 1,500 crore. The NCDs would carry a coupon of 7.90 per cent payable semi-annually and would be available for subscription by both retail and institutional investors. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/recession-fears-mount-as-uk-gdp-falls-0-3-in-aug/articleshow/94823828.cms">Recession fears mount as UK GDP falls 0.3% in Aug</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-now-a-spam-factory-1-in-2-indian-swamped-with-promotional-messages-report/articleshow/94815568.cms">WhatsApp now a spam factory, 1 in 2 Indian swamped with promotional messages: report</a>

NHAI InvIT raises ₹1,430 crore through follow-on issuance

New Delhi, Mar 31 () Shares of oil marketing companies, led by Bharat Petroleum, on Tuesday zoomed up to 15 per cent owing to a fall in crude prices. Bharat Petroleum Corporation Ltd (BPCL) advanced 15.07 per cent to Rs 316.05, Hindustan Petroleum Corporation Ltd (HPCL) jumped 13.12 per cent to Rs 190.15 and Indian Oil Corporation Ltd (IOCL) gained 6.66 per cent to close at Rs 81.65 on the BSE. "Today (on Tuesday), share price of BPCL and HPCL are up owing to fall in crude prices to near 18-year low (crude oil price slipped below USD 20 per bbl). Fall in crude prices leads to an increase in net marketing margins of BPCL, HPCL, and IOCL," Yogesh Patil, research analyst, Reliance Securities, said. The BSE's oil and gas index was the top gainer in the deck, rising 8.72 per cent. Meanwhile, in the equity market, the 30-share BSE Sensex closed in the positive territory, ending 1,028.17 points or 3.62 per cent higher at 29,468.49. SUM HRS

Oil marketing companies gain; BPCL rises 15 pc

New Delhi, Dec 17 () Axis Bank on Tuesday announced the launch of co-branded credit card in partnership with Indian Oil Corporation Ltd (IOCL).
 The co-branded card is for customers who prefer cashless and hassle-free payments, Axis Bank said in a release.
 This partnership is an effort from Axis Bank and IOCL to expand their presence in the fast-developing credit card ecosystem in India, with an aim to offer attractive rewards and benefits for its customers, it said.
 Customers will be able to get benefits such as cashback up to Rs 250 on fuel purchases within first 30 days of card issuance, 20 times accelerated reward points on fuel spends at IOCL outlets as well as waiver of fuel surcharge.
 Additionally, customers can avail benefits like 5x accelerated reward points on online shopping, 10 per cent instant discount on movie ticket bookings via BookMyShow, while also earning edge points for every spend.
 "The tie-up with Axis Bank for co-branded credit card will usher a relationship amongst the two commercial conglomerates, and enhance customer convenience in tier-II and III cities. This initiative will promote digital payments, working towards the government's vision of a Digital India," Vigyan Kumar, executive director (retail sales), Indian Oil Corporation Ltd, said.
 The co-branded card will offer exclusive rewards that will appeal to customers across India, said Sanjeev Moghe, executive vice-president, head (cards and payments), Axis Bank.
 The customer can use the card across all 27,000 Indian Oil outlets, Axis Bank said. KPM HRS

Axis Bank, Indian Oil launch co-branded credit card for cashless payments

New Delhi, Feb 25 () State-owned Bank of Baroda (BoB) on Tuesday said it has moved the Supreme Court against an order passed by the Calcutta High Court in a matter related to a bank guarantee issued on behalf of Simplex Projects Ltd. A bank guarantee of Rs 6.97 crore was furnished by BoB to Indian Oil Corporation (IOCL) on behalf of Simplex Projects. IOCL had raised a demand to encash the amounts under the bank guarantee, which the lender did not release since the guarantee was not valid on the date of its invocation. Earlier this month, the Calcutta High Court directed Reserve Bank to consider appropriate steps against BoB, including revoking its licence or authority to carry on with banking business, if necessary, for failing to honour the bank guarantee. In a statement on Tuesday, BoB said the bank, after seeking legal advice, decided to exercise its rights available under law, by preferring a challenge against the order passed by the Calcutta High Court before the Supreme Court of India.BoB is second largest bank and its distribution network, includes over 9,500 branches. NKD CS RAM

You Searched For "IOCL" and got 10 results

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

Vaamanaa Sethi

Bharat Petroleum plunge 5% amid reports of the company selling 4% of treasury shares

IANS

Research on to produce biomass LPG in 2-3 years: IOCL official

PTI

IOC-led paper fears salary cuts for athletes during COVID-19 crisis could fuel corruption, manipulation

PTI

Indian Railways likely to fund nuclear energy expansion and this will make sense

BI India Bureau

Indian Oil set to produce fuel for Formula 1 cars

ANI

NHAI InvIT raises ₹1,430 crore through follow-on issuance

IANS

Oil marketing companies gain; BPCL rises 15 pc

PTI

Axis Bank, Indian Oil launch co-branded credit card for cashless payments

PTI

Bank guarantee case: Bank of Baroda moves Supreme Court against Calcutta HC order

PTI

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