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The Latest Breaking News from Indian Oil Corp

Indian Oil close to signing LPG import deal with Algeria's Sonatrach for 2027: Sources

Indian Oil Corp has finalized a deal with Algeria's Sonatrach for LPG imports. This agreement will supply one very large gas carrier monthly starting in 2027. India is diversifying its LPG sources to reduce Middle East reliance. The nation is also increasing intake of United States LPG supplies. This move…

The Economic Times

India's top refiner IOCL scouts stakes in gas carriers as it plans higher US imports

Indian Oil Corporation is seeking to acquire a fifty percent stake in very large gas carriers. This move prepares the company for increased liquefied petroleum gas imports from the United States. Indian state fuel retailers will increase their purchases of U.S. LPG starting from the year 2027. The company is…

The Economic Times

Indian refiners halt Iraq oil loadings on rising Hormuz risk

Due to heightened security worries, Indian refiners have paused crude oil loadings from Iraq, with major players like Indian Oil Corp. and Mangalore Refinery suspending operations. The move follows multiple freighters suffering projectile attacks, amplifying shipping hazards in the region. Iraq's oil ministry has acknowledged these delays, and India's shipping…

The Economic Times

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Indian Oil Corp cancels Iraq oil lifting amid Hormuz attacks, sources say

Indian Oil Corp cancelled lifting Iraqi oil from Basrah Oil Terminal. Increased risks and attacks in the Strait of Hormuz prompted this decision. Mangalore Refinery and Petrochemicals Ltd also cancelled similar oil lifting plans. India advised shipowners against deploying seafarers through the Strait of Hormuz. Vessels must remain vigilant about…

The Economic Times

No bids made in Indian Oil tender for ships to carry Gulf cargoes, say sources

Indian Oil Corporation has failed to secure any bids for chartering vessels to transport crude oil and LPG from the Strait of Hormuz. Ship owners are hesitant due to the current geopolitical climate, preferring to await clearer terms before entering the region. The tenders sought to move significant quantities of…

The Economic Times

PetroChina, Indian Oil fail to secure tankers to load Iraqi crude

PetroChina and Indian Oil faced difficulties securing tankers for Iraqi crude. PetroChina and Indian Oil Corp could not find vessels. Sinochem is searching for a tanker. High shipping rates and transit concerns persist. This follows an interim deal between the United States and Iran. Indian Oil Corp declared force majeure…

The Economic Times

India keeps local jet fuel prices unchanged after airline plea

Indian oil refiners have maintained jet fuel prices for domestic flights. This decision follows a request from airlines facing challenges from the Iran war. Aviation turbine fuel costs remain unchanged for June in New Delhi. Refiners also reduced prices for international flights. Airlines had previously seen price hikes and reduced…

The Economic Times

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Exxon Mobil Reportedly Sells Guyanese Oil To Indian Refiners

Exxon Mobil Corporation (NYSE:XOM) reportedly sold 4 million barrels of Guyanese crude oil to Indian Oil Corp. and Hindustan Petroleum Corp. in India.

Benzinga

Russia to Use Dubai Benchmark in Indian Oil Deal

Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp agreed to use the Dubai oil price benchmark in their latest deal to deliver Russian oil to India, three sources familiar with the matter said. The decision by the two state-controlled companies to abandon the Europe-dominated Brent benchmark…

Asharq Al-Awsat

Fire at Indian Oil's Haldia refinery injures three -local media

A flash fire at Indian Oil Corp's Haldia refinery in India injured three people on Monday, local media reported.

Reuters

India plans $2.5 billion aid to oil firms hit by soaring costs

NEW DELHI: India plans to pay about Rs 20,000 crore ($2.5 billion) to the state-run fuel retailers, such as Indian Oil Corp, to partly compensate them for losses and keep a check on cooking gas prices, according to people familiar with the matter.

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