During Apr-Jun 2013-14, the net loss of Indian Oil Corporation (IOC) declined to Rs 3,093 crore from Rs 22,451 crore in the corresponding quarter previous year. The company managed to reduce its loss as it received compensation for selling fuel below market cost from the government
Tag: oil marketing company
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IOC raises $500 mn via bond issue
Indian Oil Corporation (IOC) raised $500 mn through issue of 10 year dollar denominated bonds at a coupon of 5.75 percent. The state-run oil marketing company (OMC) roped in Deutsche Bank, HSBC and Standard Chartered Bank as the joint book-runners for the bond sale. Around 400 investors across the globe offered bids worth about $3.5 bn for subscribing to the bonds. The bidd
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BPCL lays pipeline to supply ATF
State-run oil marketing company (OMC) BPCL laid 33 km underground pipeline from its Kochi refinery to the local airport to ensure smooth supply of aviation turbine fuel (ATF) at an investment of Rs 41 crore. Earlier, aircrafts in the airport used to get jet fuel from the refinery by tanker trucks. The company set up the pipeline considering that transport of ATF by pipeline is safer than tanker lorry delivery
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BPCL to export naptha
Bharat Petroleum Corp (BPCL) intends to export 35,000 tonne of low aromatic naphtha for July 5-8 loading from Kochi. For this purpose, the state-run oil marketing company (OMC) has issued tender and invited bids from traders till June 11. Meanwhile, the firm is in the process of importing gasoline
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Report suggests HPCL may post losses in 2012-13
State-run oil marketing company (OMC) Hindustan Petroleum Corporation (HPCL) may report losses in the financial year 2012-13 owing to poor refining margins, forex losses and increasing interest costs, research firm Antique said recently. The company may be able to improve its realisation only if the government raises diesel, kerosene prices, repo