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Showing posts with label IOC. Show all posts
Showing posts with label IOC. Show all posts

Thursday, February 02, 2012

Sunday, November 14, 2010

IOC beats Reliance to become nation's No.1 refiner


Indian Oil Corp (IOC) surpassed Reliance Industries Ltd. to regain its position as nation's biggest refiner after it completed expansion of its Panipat unit. "We have this week completed expansion of our Panipat refinery (in Haryana) to 15 million tonnes (from 12 million tonnes)," IOC director (Refineries) B.N. Bankapur was quoted as saying. Before the expansion, IOC's eight refineries had a total crude oil refining capacity of 51.2 million tons a year. Together with its subsidiary Chennai Petroleum Corp Ltd. (CPCL), it had a combined refining capacity of 61.7 million tons. After Panipat expansion, IOC group's refining capacity has increased to 64.7 million tons, ahead of 62 million tons of refining capacity that Reliance has at Jamnagar in Gujarat. IOC was the largest oil refiner in the country before Reliance started its 29 million tons a year only-for-exports unit adjacent to its 33 million tons a year plant at Jamnagar.

Saturday, October 23, 2010

IOC to hit markets with Rs 190bn FPO : report


Indian Oil Corporation (IOC) is likely to raise about Rs 190bn from capital market. Half the proceeds would go to the government, which will offload 10% of IOC shares to help it meet its disinvestment target of Rs 400bn this fiscal. In addition, the company will issue new shares amounting to another 10% of its equity capital to help the country’s largest state refiner build new units. IOC will start shortlisting merchant bankers next week for its public issue. The IOC public offer may hit the market by January, adding to the rush of equity and debt issues aggregating to an estimated Rs 800bn in the next six months.

Monday, July 26, 2010

Friday, March 26, 2010

IOC, OIL confirm making cash offer for Gulfsands


Indian Oil Corp Ltd. (IOC) and Oil India Ltd. (OIL) confirmed that they had approached Gulfsands Petroleum Plc for a possible all cash offer worth 381 million (US$570mn) to acquire the UK-based company. Gulfsands is an oil producer with interests in Syria, Iraq and the Gulf of Mexico. "In response to recent speculation concerning a possible offer for Gulfsands, Indian Oil and Oil India confirm that they have jointly made an approach regarding a possible all cash offer for Gulfsands," the two companies told the LSE. In a separate notification to the LSE, Gulfsands said that the company had received a preliminary approach on March 18 for a possible offer at 315 pence per share for its entire issued and to-be-issued share capital. The board of Gulfsands has, however, rejected the preliminary offer. "As stated on Mar 19, the board is unanimously of the view that the proposal is wholly inadequate, highly conditional and materially undervalues the company," Gulfsands said. The two state-owned oil companies said they were still eyeing a possible takeover of Gulfsands after their US$570mn takeover bid was rejected as inadequate. Earlier, news reports quoted the two companies as saying that are not planning to raise their bid for Gulfsands.

Sunday, February 07, 2010

Tuesday, November 03, 2009

Monday, September 21, 2009

Saturday, January 03, 2009

Got cheated ? Complain !


If you have been cheated by the petrol station who tries to distract you and fill up less fule or LPG distributor tries to promote 'SAFETY' by forcing you to buy products worth thousands - complain to the company (IOC, BPCL or HPCL) and you might get a surprise resolution in a couple of days with the Area Sales manager usually calling you or replying to your complaints!

Register a complaint through their websites or call them! -

IOCL - http://webapps.indianoil.co.in/paribhavam/

HP Gas - http://jihaan.hpcl.co.in/cms/register.aspx

HP Customer Service - http://www.hindustanpetroleum.com/En/UI/Locatorsearch.aspx

BPCL - http://www.bharatpetroleum.com/general/gen_customer_grievance.asp?from=corp

Please forward this to people who you think are affected!