ADNOC Gas signs 14-year LNG supply agreement with IOC

ADNOC Gas plc and its subsidiaries a world-class integrated gas processing company, announced a 14-year sales and purchase agreement (SPA) with Indian Oil Corporation Ltd (IndianOil) for the export of up to 1.2 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to India’s largest integrated and diversified energy company. This agreement converts the

IOC advocates integrating biodiesel processing within existing refineries

Indian Oil, India’s largest state-owned oil and gas corporation, is urging the government to allow biodiesel to be processed alongside traditional crude oil at its refineries, a shift it argues could facilitate the country’s ambitions for a 5% biodiesel blend by 2030. The development should be seen in the context of headwinds in supply of oil

Indian Oil relaunches green hydrogen plant tender

Indian Oil Corporation (IOCL), the country’s largest fuel retailer, relaunched tenders for its maiden green hydrogen plant to be set up in Panipat, with the bidding process set to begin on April 15. The newly launched tender for the nation’s largest green hydrogen plant removed the controversial clause which some bidders labelled as discriminatory. However,

IOC to open 300 ethanol fuel stations: Gadkari

Indian Oil Corp , the country’s top refiner, will open 300 ethanol fuel stations, federal road transport minister Nitin Gadkari said. “My demand of opening of ethanol pumps is accepted by the petroleum minister,” Gadkari said on the sidelines of a sugar conference in the western city of Pune. “Indian Oil has taken a decision

IOC cuts jet fuel prices for January

State-controlled refiner IOC has reduced jet fuel prices for the third consecutive month, effective from 1 January in line with international prices. IOC cut jet fuel prices by nearly 4% from its last revision to 95,372.43rupees/kilolitre ($1,145/kl). The refiner reduced jet fuel price in Delhi by Rs3,850.81/kl to Rs101,993.17/kl. It cut prices in Chennai and

Ready to import oil from any country not under sanctions

India will buy crude oil from Venezuela as a number of Indian refineries are equipped to process heavy crudes, Petroleum Minister Hardeep Singh Puri said. With the United States (US) easing sanctions on Caracas in October, India’s imports of Venezuelan oil are set to resume after three years. The minister said that as a major

IOC to invest over Rs 2,600 crore to set up greenfield units

Indian Oil Corporation has firmed up plans to pump in over Rs 2,600 crore in setting up several greenfield units and expanding its facilities across the northeast over the next few years. The board of IOC has already approved various new projects, while some are in the process of getting the nod, with the leading

IOC unveils first green hydrogen-run bus

Union Minister Hardeep Singh Puri flagged off India’s first green hydrogen-powered bus that emits just water. The minister said hydrogen will be India’s transition fuel for moving away from fossil fuels. India’s top oil firm IOC unveiled the bus. IOC will produce close to 75 kg of hydrogen by splitting water using electricity from renewable

Oil firms explore using stranded $600 mn to buy Russian oil

Indian Oil Corporation (IOC), a unit of Bharat Petroleum Corporation Ltd, Oil India Ltd and ONGC Videsh Ltd — haven’t been able to repatriate dividend income they accrue from their investments in Russian oil and gas fields. That money is lying in their bank accounts in Russia but could not be brought to India due

IOC invites global tenders for first green hydrogen plant

The Indian Oil Corporation Limited (IOCL) has begun the process to set up its first green hydrogen generation plant in Panipat at 10 KTA (thousands tonnes per annum) capacity. The big project will be coming up in the next 30 months. The IOCL on Monday invited global tenders for setting up the unit next to