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After reporting <keyword id="21767878" type="General" weightage="20" keywordseo="record-profits" source="keywords">record profits</keyword>, state-owned <keyword id="20459282" type="General" weightage="100" keywordseo="fuel-retailers" source="keywords">fuel retailers</keyword> <keyword id="19908045" type="General" weightage="20" keywordseo="Indian-Oil-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Oil Corporation" meta.hostid="153" meta.entityid="Indian Oil Corporation">Indian Oil Corporation</keyword> (<keyword id="6354733" type="General" weightage="20" keywordseo="IOC" source="Orion">IOC</keyword>), <keyword id="19908646" type="General" weightage="20" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="153" meta.entityid="BPCL">BPCL</keyword> and <keyword id="20052221" type="General" weightage="20" keywordseo="HPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="HPCL" meta.hostid="153" meta.entityid="HPCL">HPCL</keyword> posted up to 90 per cent slump in their June quarter earnings as margins fell and they booked under-recovery on the sale of domestic cooking gas LPG at government-controlled rates. IOC, the nation's largest oil firm, reported 81 per cent drop in standalone net profit in April-June - the first quarter of current 2024-25 fiscal year - to Rs 2,643.18 crore as opposed to a profit of Rs 13,750.44 crore a year back, according to a company filing. Net profit also declined sequentially, when compared to an earning of Rs 11,570.82 crore in March quarter. Hindustan Petroleum Corporation Ltd (HPCL) posted 90 per cent drop in profit to Rs 633.94 crore as compared to an earning of Rs 6,765.50 crore in April-June 2023 and Rs 2,709.31 crore in the preceding March quarter. Bharat Petroleum Corporation Ltd (BPCL) net profit dropped to Rs 2,841.55 crore in April-June from Rs 10,644.30 crore a year back and Rs 4,789.57 crore in January-March, its filing showed. The three fuel retailers made extraordinary gains from holding petrol and diesel prices despite a drop in cost. The price freeze was justified in the name of recovering losses they had suffered in the previous year when they did not raise retail prices despite a surge in cost. The gains arising from the price freeze were eroded with petrol and diesel prices being cut by Rs 2 per litre each just before general elections and a fall in refining margins. Also, the three had uncompensated <keyword id="20866844" type="General" weightage="20" keywordseo="LPG-subsidy" source="keywords">LPG subsidy</keyword> - IOC booking under-recovery of Rs 5,156.23 crore in April-June, BPCL Rs 2,015.10 crore and HPCL Rs 2,443.71 crore, according to the filings. As per an order of the oil ministry, when market determined price (MDP) of LPG cylinders is less than its effective cost to customer (ECC), oil marketing companies (OMCs) have to retain the difference in a separate buffer account for future adjustment. However, as on June 30, 2024, the three firms had a net negative buffer as the retail selling price was less than MDP. The three retailers IOC, BPCL and HPCL had reported record profits totalling about Rs 81,000 crore in FY24 (2023-24), which was far more than their annual earnings of Rs 39,356 crore in pre-oil crisis years. This is because they resisted calls to revert to daily price revision and pass on softening in rates to consumers on grounds that prices continue to be extremely volatile - rising on one day and falling on the other - and that they needed to recoup losses incurred in the year, when they kept rates lower than cost. IOC in 2023-24 posted a standalone net profit of Rs 39,618.84 crore compared to Rs 8,241.82 crore in 2022-23. While the company could argue that FY23 was impacted by the <keyword id="21626914" type="General" weightage="20" keywordseo="oil-crisis" source="keywords">oil crisis</keyword>, the FY24 earnings are higher than even the pre-crisis years - Rs 24,184 crore net profit in 2021-22 and Rs 21,836 crore in 2020-21. BPCL posted a net profit of Rs 26,673.50 crore in FY24, higher than Rs 1,870.10 crore earnings in 2022-23 and Rs 8,788.73 crore in FY22. HPCL's 2023-24 profit of Rs 14,693.83 crore is compared with a Rs 8,974.03 crore loss in FY23 and a profit of Rs 6,382.63 crore in 2021-22, according to the filings. The losses in FY23 had led to the finance minister announcing Rs 30,000 crore equity infusion in the three firms. Mid-way through the year, that support was halved to Rs 15,000 crore. The support was to happen by way of equity infusion via a rights issue. But after the record profits of 2023-24, the equity infusion plan has now been scrapped. Finance Minister Nirmala Sitharaman had on February 1 last year, while presenting the annual Budget for the 2023-24 fiscal (April 2023 to March 2024), announced an equity infusion of Rs 30,000 crore in IOC, BPCL and HPCL to support the three state-owned firm's energy transition plans. In the interim budget that the finance minister presented in February this year ahead of the general elections, the capital support to the three oil companies was halved to Rs 15,000 crore. In the full budget for 2024-25, both plans have been scrapped. While other state-owned oil companies like Oil and Natural Gas Corporation (ONGC) and GAIL (India) Ltd too have lined up billions of dollars of investment to achieve net-zero carbon emissions, the equity support was limited to the three fuel retailers, which had suffered huge losses in 2022 when they held retail petrol, diesel and cooking gas (LPG) prices despite a spike in raw material (crude oil) prices, following Russia's invasion of Ukraine. The board of IOC and BPCL had last year approved rights issues to raise to Rs 22,000 crore and Rs 18,000 crore, respectively. The government was to participate in the rights issue. The three companies, which control roughly 90 per cent of India's fuel market, 'voluntarily' have not changed petrol, diesel and cooking gas (LPG) prices, resulting in losses when input costs were higher and profits when raw material prices were lower. They posted a combined net loss of Rs 21,201.18 crore during April-September 2022 despite accounting for Rs 22,000 crore announced but not paid LPG subsidy for the previous two years. Subsequent softening of international prices and government giving out LPG subsidies helped IOC and BPCL post annualised profit for 2022-23, but HPCL was in the red. In FY24, things changed dramatically, and the three firms posted record earnings.

After record profits, state-owned fuel retailers Indian Oil, BPCL and HPCL see profit slump in Q1

<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. 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Indian Oil set to produce fuel for Formula 1 cars

<ul class="summary-list"><li>Refiners in India are reportedly cooling to the prospect of long-term deals with Russian oil firms, Bloomberg reported. </li><li>Three Indian refiners were in talks to receive 500,000 barrels a day from Rosneft. </li></ul>Top oil refiners in India are reportedly backing away from long-term contracts for crude oil from Russian suppliers amid intensifying US sanctions.<a href="https://www.bloomberg.com/news/articles/2024-03-06/india-cautious-on-contracted-russian-oil-as-us-sanctions-bite?srnd=markets-vp" target="_blank" rel="noopener">Bloomberg reported</a> that three of India's state-owned oil refiners had been in talks with Russian energy giant Rosneft to lock in 500,000 barrels a day, about equivalent to one-third of India's daily imports.The report from Bloomberg said India's largest state-owned refiner, Indian Oil, is considering slashing crude supply from Russia under its long-standing term supply, while two other big firms, Bharat Petroleum and Hindustan Petroleum, have not committed to long-term contracts with Russian suppliers. Contracted deals would reduce dependence on one-off purchases, which are more expensive, Bloomberg said. The move away from long-term deals for Russian crude comes as sanctions from the West crack down on Russia's oil trade, with India buying more from other nations like Saudi Arabia in February. Though Russia is still the country's biggest supplier of crude oil, Indian refiners are increasingly turning to <a href="https://markets.businessinsider.com/news/commodities/india-mideast-russian-crude-exports-discounts-sanctions-price-cap-puri-2024-1?_gl=1*1vds571*_ga*MTIzMDA5Njk4OS4xNzA3ODc2NDgz*_ga_E21CV80ZCZ*MTcwOTczMzcyNC4xMTMuMS4xNzA5NzMzNzcxLjEzLjAuMA..">Middle Eastern nations like Iraq, the UAE, and Saudi Arabia</a>. The shift dragged the country's Russian oil imports to the lowest level last month since January 2023. Sources told Bloomberg that in the upcoming fiscal year starting April 1, state refiners plan to meet 40% of their crude needs through spot deals, indicating a large volume of Russian oil will still flow to India.

Indian oil firms are reportedly backing away from long-term deals for Russian oil amid tough sanctions

<ul class="summary-list"><li>Indian oil refiners are turning to the yuan for some purchases of Russian crude, sources told Reuters.</li><li>The US dollar is typically used in international oil transactions.</li></ul>Indian refiners are starting to purchase Russian crude imports using the Chinese yuan, as Western sanctions continue to redefine global currency usage.Although India does not officially recognize the West's measures against Russia for its war on Ukraine, the fear of potential secondary sanctions has made Indian banks wary of using US greenbacks for Russian imports. In June, Indian Oil was the first state refiner to pay for Russian crude in yuan, while at least two of India's three private refiners have completed similar transactions, sources told <a href="https://finance.yahoo.com/news/exclusive-india-refiners-start-yuan-094550789.html" target="_blank" rel="noopener">Reuters</a>.Previously, India had requested banks to avoid the yuan's use in Russian transactions, due to the geopolitical friction New Delhi has maintains with Beijing. Whether this has changed is unclear, Reuters reported.Meanwhile, Bloomberg reported that two more state refiners, Bharat Petroleum and Hindustan Petroleum, are also considering the yuan's use, as a way to <a href="https://www.bloomberg.com/news/articles/2023-07-03/india-state-refiners-consider-paying-in-yuan-for-russian-crude?srnd=markets-vp">widen currency alternatives</a>.The US dollar is typically used in international oil transactions. In India, most payments are in dollars and United Arab Emirates dirhams. But fears of currency risks have prompted importers to seek other options, sources told Bloomberg.Indian efforts to allow the rupee to be used for oil purchases have largely been futile, with Moscow <a href="https://markets.businessinsider.com/news/currencies/russia-india-ruble-rupee-sanctions-trade-imbalance-yuan-weapons-deficit-2023-5">unable to convert</a> the large rupee stockpile it currently sits on. Meanwhile, the curtailment of Moscow's energy exports to the West rerouted them to new markets at discounted prices, benefitting countries such as India and China. In fact, Russian imports into India jumped for a 10th straight month in June, hitting a record 2.2 million barrels a day, according to Kpler.The increased adoption of the yuan is good news for Beijing, which has been actively pushing for the currency's role in cross-border trade agreements, in a gradual effort to unseat the dollar. The yuan has also brought some relief to Russia, which relies on the currency to <a href="https://www.yahoo.com/entertainment/russia-using-chinese-yuan-around-051945912.html" target="_blank" rel="noopener">circumvent Western measures</a>. While a large part of China's own <a href="https://www.businessinsider.com/dedollariztion-china-yuan-russia-oil-imports-sanctions-2023-5">energy trade with Russia</a> has been yuan-denominated, last month also saw <a href="https://www.reuters.com/markets/commodities/pakistans-russian-crude-shipment-paid-chinese-currency-minister-2023-06-12/" target="_blank" rel="noopener">Pakistan pay</a> for Moscow crude in the currency.

Indian oil refiners are using China's yuan instead of the US dollar to buy Russian crude

<keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s top oil company <keyword id="6354733" type="General" weightage="100" keywordseo="ioc" source="Orion">IOC</keyword> will invest Rs 61,077 crore in building a petrochemical complex at <keyword id="16552131" type="General" weightage="50" keywordseo="paradip-in-odisha" source="Orion">Paradip in Odisha</keyword> - its largest ever investment at a single location - as it doubles down on its transition plan. In a statement, <keyword id="6356834" type="General" weightage="50" keywordseo="indian-oil-corporation" source="Orion">Indian Oil Corporation</keyword> (IOC) said its board has given "Stage-1 approval for setting up <keyword id="49809" type="General" weightage="80" keywordseo="paradip" source="Orion">Paradip</keyword> petrochemical complex at Paradip, Odisha at an estimated cost of Rs 61,077 crore." "This mega project will be the largest-ever investment of Indian Oil at a single location," it said but did not give timelines for completion of the project. This is a part of its transition plan including boosting petrochemical intensity to help protect against volatility. Petrochemical intensity refers to the percentage of crude oil that is converted directly into chemicals that are used to make plastic and other material. Crude oil, pumped out of the ground and from below the seabed, is processed in refineries to make petrol, diesel and other fuel. It can be processed to make petrochemicals, bypassing the fuels. IOC's petrochemical intensity - the percentage of crude oil converted into chemicals- is low at 5-6 per cent currently. The company intends to take it up to 10-12 per cent. The firm's newer refineries at <keyword id="6360136" type="General" weightage="50" keywordseo="panipat" source="Orion">Panipat</keyword> in Haryana and Paradip in Odisha have the petrochemical intensity of 15-20 per cent which would be raised to 25 per cent, its chairman <keyword id="5281441" type="General" weightage="50" keywordseo="shrikant-madhav-vaidya" source="Orion">Shrikant Madhav Vaidya</keyword> had told PTI in an interview last month. Energy transition refers to the shift from fossil-based systems of energy production and consumption - including oil, natural gas and coal - to renewable energy sources like wind and solar, as well as lithium-ion batteries. This shift is likely to gradually cut demand for petrol and diesel and so in preparation of that IOC is doing petrochemical projects. The company said the petrochemical complex at Paradip would include a world-scale cracker unit along with downstream process units for producing several petrochemical products including polypropylene (PP), high density polyethylene (<keyword id="178943" type="General" weightage="50" keywordseo="hdpe" source="Orion">HDPE</keyword>), linear low-density polyethylene (LLDPE) and poly vinyl chloride (PVC) - these being building blocks of different grades of plastics. It shall also facilitate production of niche chemicals and petrochemicals like phenol and isopropyl alcohol. Talking of the development, <keyword id="6360405" type="General" weightage="80" keywordseo="vaidya" source="Orion">Vaidya</keyword> said, "This mega project is aligned with Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>'s vision of Purvodaya that is sure to accelerate the development trajectory and fuel prosperity in Eastern India. This cutting-edge, state-of-the-art petrochemical complex will undoubtedly be transformative in its impact, significantly advancing the Aatmanirbhar Bharat initiative." "This mega project shall significantly improve the petrochemical intensity index of IndianOil. It shall be a growth driver in making the company a major player in the petrochemical industry, while strengthening India's self-reliance in the petrochemical sector," he said. The project, the statement said, will catalyze the growth of PCPIR and Plastic Park at Paradip. "On commissioning of this project, domestically available Petrochemicals are expected to provide feed and vitalise industrial growth in key downstream industries like plastic, pharma, agrochemical, personal care, paints etc. It is also expected to create employment opportunities in eastern India, especially Odisha," it added. 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Indian Oil to invest ₹61,077 crore in a petchem complex at Paradip in Odisha

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

<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>

You Searched For "indian oil" and got 7 results

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Indian Oil to invest ₹61,077 crore in a petchem complex at Paradip in Odisha

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

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

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