Patna, March 10 (IANS) A rumour about a possible domestic gas shortage created panic, on Tuesday, in the Sugauli block of East Champaran district in Bihar, after claims spread that LPG supplies might be disrupted due to the ongoing tensions between Iran and Israel. As the rumour spread rapidly, hundreds of residents rushed to the local gas agency warehouse, carrying empty cylinders and standing in long queues for hours.The sudden rush created chaos outside the warehouse as people tried to secure…
Latest Indian Oil Corporation News & Updates
Kochi/Chennai, March 9 (IANS) Prime Minister Narendra Modi will visit Kerala and Tamil Nadu on March 11 during which he will inaugurate, dedicate to the nation, lay the foundation stone and flag off a slew of development projects across the two states.According to an official statement, the Prime Minister will first reach Ernakulam in Kerala, where at around 1.30 p.m. he will launch multiple infrastructure and development projects worth about Rs 10,800 crore and address a public gathering.A majo…
Mumbai, March 9 (IANS) Shares of major state-owned oil marketing companies (OMCs) traded under pressure on Monday, declining up to nearly 9 per cent in early trade as the conflict involving Iran disrupted energy flows through the Strait of Hormuz and rattled global markets.Global crude oil prices surged past the $100-a-barrel mark.With this development, OMC stocks such as Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) slumped up to …
New Delhi, March 7 (IANS) State-owned oil marketing companies (OMCs) on Saturday raised the prices of domestic and commercial LPG cylinders, with household cooking gas becoming costlier by Rs 60 and commercial cylinders by Rs 114.5, amid rising global energy prices linked to the ongoing conflict in the Middle East.According to the Indian Oil Corporation, the price of non-subsidised domestic LPG used by most households has been increased to Rs 913 per 14.2-kg cylinder in New Delhi — up from Rs 8…
Mumbai, Feb 5 (IANS) Shares of Indian Oil Corporation (IOC) rose on Thursday after the state‑owned refiner reported close to 60 per cent surge in profits during the December quarter of FY26.Indian Oil posted a 59.3 per cent increase in net profit to Rs 12,126 crore for the quarter, up from Rs 7,610.5 crore in the September quarter. Revenue during the reported quarter increased to Rs 2.04 lakh crore, up about 14.3 per cent from Rs 1.78 lakh crore in the prior quarter.Earnings before interest, t…
New Delhi, Jan 29 (IANS) The Centre will soon introduce a new policy on Compressed Bio-Gas (CBG) to further strengthen the existing framework across the entire bio-gas value chain, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Thursday.Speaking to IANS on the sidelines of India Energy Week in Goa, Puri said the upcoming CBG policy will build on the deliberations and outcomes of the discussions held during the event.“The policy will focus on providing financial support for…
New Delhi, Jan 26 (IANS) Under the leadership of Prime Minister Narendra Modi, India is witnessing a major transformation in its energy sector, with strong focus on bio-energy, ethanol blending and circular economy solutions, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Monday. This vision is being prominently showcased at the India Energy Week (IEW) 2026, Puri added.Speaking on the sidelines of IEW 2026, Puri highlighted that India has made remarkable progress in bio-fuel…
Kolkata, Jan 24 (IANS) Kolkata Police have busted a fake job racket and arrested a man for allegedly cheating three youths of Rs 32 lakh by promising them jobs at Indian Oil Corporation (IOC), officials said on Saturday. According to the police, a man claiming to be a central government official defrauded three young men and women from Kolkata of 32 lakh rupees by promising them jobs at Indian Oil Corporation.Following this, officers from Patuli police station in south Kolkata began searching fo…
New Delhi, Jan 14 (IANS) Minister of Petroleum and Natural Gas Hardeep Singh Puri announced on Wednesday that in a major development, India’s oil companies have struck oil in an onshore hydrocarbon block in Abu Dhabi. The discovery was made by Urja Bharat PTE Ltd (UBPL), a 50:50 JV between India’s energy Maharatna Indian Oil Corporation and Bharat PetroResources Ltd (BPCL). The successful discovery of light crude oil in both the Shilaif play (XN 76) and the Habshan reservoir (XN 79 02S) mark…
New Delhi, Jan 6 (IANS) Any increase in the production of oil from Venezuela by US companies has the potential of lowering crude prices in the international market, benefiting all countries, including India. However, analysts are of the view that there is still too much geopolitical uncertainty in the region for large investments to pour into the Latin American country.Unlike China, India is not a big importer of Venezuelan crude, which is heavy and tar-like, making it costly to refine into petr…