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India

Indian Oil Corporation Ltd (IOC.NS)

IOC.NS on National Stock Exchange of India

87.05INR
11 Aug 2020
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Latest Key Developments (Source: Significant Developments)

Indian Oil Corp Expects Refinery Runs Of 70%-75% In FY 2021
Friday, 31 Jul 2020 

July 31 (Reuters) - Indian Oil Corporation Ltd ::EXPECTS H2 2020 OIL PRICES AT $40/BBL.JUNE QUARTER INVENTORY LOSSES 31.96 BILLION RUPEES.REFINERY CAPACITY UTILISATION DURING JUNE QUARTER AT 69%.REFINERY CAPACITY UTILISATION CURRENTLY HOVERS AROUND 75%.APPROVED SETTING UP PTA PLANT AT PARADIP IN EASTERN INDIA AT COST OF 138 BILLION RUPEES.NO ISSUE IN SOURCING CRUDE FROM MIDEAST.DOES NOT EXPECT FUEL DEMAND TO RECOVER TO PRE-COVID LEVELS IN NEAR FUTURE.FRAMING FUEL RETAILING STRATEGY TO TAKE ON COMPETITION FROM PRIVATE SECTOR.NOT PLANNING TO REVISIT FY 21 CAPEX PLAN OF 260 BILLION RUPEES.NOT LOOKING TO RAISE FUNDS VIA EQUITY, IS SUFFICIENTLY CAPITALISED.TO SET UP AT LEAST 2,000 RETAIL OUTLETS IN FY21.EXPECTS REFINERY RUNS TO BE 70%-75% IN FY21.MAY SHUT SOME UNITS IN GUJARAT REFINERY FOR MAINTENANCE IN FY21.PLANS TO BOOST PETCHEM CAPACITY OF REFINERIES.MAKING ALL-OUT EFFORTS TO USE LOCAL VENDORS IN INDIA GOVERNMENT'S SELF-RELIANCE PUSH.HALDIA REFINERY CAPACITY RAISED TO 160,000 BPD AFTER DISTILLATE YIELD IMPROVEMENT PROJECT.EXPECTS INVENTORY GAINS IN COMING MONTHS.HAS NO IMMEDIATE PLANS TO LEASE STORAGE IN U.S, INDIA GOVERNMENT PLANS TO CREATE STRATEGIC RESERVE IN U.S..  Full Article

Indian Oil Corp Says It Is On Track For Achieving FY21 Capex Target
Wednesday, 8 Jul 2020 

July 8 (Reuters) - Indian Oil Corporation Ltd ::WORKS COMMENCE ON PROJECTS WORTH 1.04 TRILLION RUPEES.ON TRACK FOR ACHIEVING CAPEX TARGET OF 261.43 BILLION RUPEES DURING FY21.  Full Article

Indian Oil Names Shrikant Madhav Vaidya As Chairman
Wednesday, 1 Jul 2020 

July 1 (Reuters) - Indian Oil Corporation Ltd ::SANJIV SINGH HAS CEASED TO BE CHAIRMAN FROM JULY 1.SHRIKANT MADHAV VAIDYA HAS BEEN APPOINTED CHAIRMAN.  Full Article

Chennai Petroleum Corp Says Holding Co Approves Proposal To Start Winding Up National Aromatics And Petrochemicals
Thursday, 25 Jun 2020 

June 25 (Reuters) - Chennai Petroleum Corporation Ltd ::CHENNAI PETROLEUM CORP-BOARD OF INDIAN OIL CORP APPROVED PROPOSAL FOR INITIATING WINDING UP PROCESS FOR NATIONAL AROMATICS AND PETROCHEMICALS CORP.  Full Article

Indian Oil Expects India's Fuel Demand To Decline By 5% In FY21
Thursday, 25 Jun 2020 

June 25 (Reuters) - Indian Oil Corporation Ltd head of finance Sandeep Kumar Gupta::SAYS PANIPAT NAPHTHA CRACKER OPERATING AT FULL CAPACITY.SAYS SEE SUBDUED GROSS REFINING MARGINS IN JUNE QUARTER.SAYS ONGOING PROJECT WILL CONTINUE, WILL BE CAUTIOUS WITH FUTURE PROJECTS.SAYS BY END OF THIS MONTH, WE EXPECT OUR BORROWINGS TO GO DOWN TO 1 TRLN RUPEES.SAYS EXPECTS DECENT GRMS IN BALANCE OF FY21.SAYS EXPECT SOME AMOUNT OF INVENTORY GAINS IN Q1.SAYS ENNORE LNG TERMINAL OPERATING AT 10% CAPACITY.SAYS SEES FUEL DEMAND DECLINING BY 5% THIS FY.SAYS HOPES FUEL DEMAND TO RECOVER TO PRE-COVID LEVELS IN FY22.  Full Article

Indian Oil Corp Reports March Quarter Net Loss 51.85 Bln Rupees
Wednesday, 24 Jun 2020 

June 24 (Reuters) - Indian Oil Corporation Ltd ::AVERAGE GRM FOR FY20 IS $0.08 PER BBL VERSUS FY19 GRM OF $5.41 PER BBL.MARCH QUARTER NET LOSS 51.85 BILLION RUPEES VERSUS PROFIT OF 60.99 BILLION RUPEES LAST YEAR.MARCH QUARTER REVENUE FROM OPERATIONS 1.4 TRLN RUPEES VERSUS 1.44 TRLN RUPEES LAST YEAR.INDIAN OIL CORP - DIRECTORS APPROVED PROPOSAL FOR SEEKING APPROVAL OF SHAREHOLDERS TO INCREASE BORROWING LIMITS TO 1.65 TRLN RUPEES.INDIAN OIL CORP - BOOKED TOTAL WRITE-DOWN IN VALUATION OF INVENTORIES OF 113.05 BILLION RUPEES AS EXCEPTIONAL ITEM IN QUARTER.  Full Article

Chennai Petroleum Corporation Recommends Proposal To Indian Oil Corp To Implement Project At Cauvery Basin Refinery
Wednesday, 3 Jun 2020 

June 3 (Reuters) - Chennai Petroleum Corporation Ltd ::CHENNAI PETROLEUM CORPORATION -CONSIDERED,RECOMMENDED PROPOSAL TO BOARD OF INDIAN OIL CORP TO IMPLEMENT REFINERY PROJECT AT CAUVERY BASIN REFINERY.CHENNAI PETROLEUM - ACCORDED IN-PRINCIPLE APPROVAL FOR JV INCORPORATION, WITH IOCL & CO TOGETHER HOLDING 50% STAKE.CHENNAI PETROLEUM CORPORATION - TO IMPLEMENT PROJECT VIA JV FOR ABOUT 289.83 BILLION RUPEES.CHENNAI PETROLEUM - TO INVEST UPTO 25 BILLION RUPEES IN JV WHERE CO & IOCL WILL BE TOGETHER HOLDING 50% STAKE.  Full Article

Indian Oil Corp- Moody's Revised Credit Rating Of Co's Senior Unsecured Debt - Foreign Currency
Wednesday, 3 Jun 2020 

June 3 (Reuters) - Indian Oil Corporation Ltd ::INDIAN OIL CORP LTD - MOODY'S HAS REVISED CREDIT RATING OF CO'S SENIOR UNSECURED DEBT - FOREIGN CURRENCY FROM BAA2 TO BAA3.  Full Article

Indian Oil Corp Ltd Says Issued NCDs Aggregating To 30 Bln Rupees
Wednesday, 27 May 2020 

May 27 (Reuters) - Indian Oil Corporation Ltd ::INDIAN OIL CORP LTD SAYS HAS ISSUED NCDS AGGREGATING TO 30 BILLION RUPEES.INDIAN OIL CORP LTD SAYS ISSSUED NCDS TO MEET CAPEX REQUIREMENTS.  Full Article

India Minister Says No Proposal To Merge IOC And Oil India
Tuesday, 26 May 2020 

May 26 (Reuters) - :INDIA MINISTER SAYS NO PROPOSAL TO MERGE INDIAN OIL CORP <<>> aND OIL INDIA <<>>.INDIA'S OIL AND STEEL MINISTER DHARMENDRA PRADHAN WAS SPEAKING TO TV CHANNEL ZEE BUSINESS.  Full Article

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India's fuel demand loses steam, slips in July after two months of gains - data

NEW DELHI India's refined fuel consumption in July slipped from June, according to preliminary industry data, indicating slower industrial activity as high retail prices, floods and renewed coronavirus lockdowns in parts of the country dented demand.