In a significant development, Indian Oil Corporation Limited (IOCL) is currently addressing a fire that erupted in a benzene storage tank with a capacity of 1,000 kilolitres at its Gujarat Refinery, located in Vadodara. The incident occurred at approximately 3:30 PM today, and the refinery’s emergency response team swiftly mobilized to contain the situation. As […]
Technip Energies (PARIS:TE) has been awarded a significant contract, valued between €50 million and €250 million, by Indian Oil Corporation Limited (IOCL). This contract encompasses the license, basic engineering design package, proprietary equipment, catalyst supply, and related services for the Paradip naphtha cracker unit (PDNCU), a new segment of the grand-scale petrochemical complex at Paradip, […]
Indian Oil Corporation has announced its historic financial performance for the fiscal year 2023-24, with a net profit of ₹239,619 crores, a monumental increase from the previous year’s ₹8,242 crores. This achievement is the highest ever in the company’s history, spanning over six decades. Operational Excellence Across the Board The stellar year for IndianOil was […]
In a remarkable demonstration of financial independence and strategic planning, the Adani Group has constructed the Dhamra LNG import facility in Odisha entirely through promoter backing, without relying on the financial undertakings or guarantees of public sector behemoths like Indian Oil Corporation (IOC) and GAIL. This approach, reported by NDTV citing undisclosed sources, represents a […]
Tata Motors, India’s premier commercial vehicle manufacturer, said that it has delivered state-of-the-art Hydrogen Fuel Cell powered (FCEV) buses to the Indian Oil Corporation Ltd. (IOCL), the nation’s largest petroleum company. Marking a transformative shift towards fully decarbonized transport, two of these groundbreaking buses were ceremoniously launched by esteemed dignitaries, including Hardeep Singh Puri, Union […]
McDermott has secured a project management consultancy (PMC) and engineering, procurement, and construction management (EPCM) contract for the Naphtha Cracker Expansion (Phase II) polypropylene expansion and new ethylene derivative unit project from Indian Oil Corporation Limited (IOCL). The project, based at the Panipat Refinery and Petrochemical Complex located 62 miles (100 kilometers) from New Delhi, […]
ADNOC Gas, an integrated gas processing company, has signed a 14-year supply agreement with Indian Oil Corporation Ltd (IOCL) for the annual export of up to 1.2 million metric tonnes of liquefied natural gas (LNG) to India. Valued between $7 billion and $9 billion over its 14-year term, the deal underscores a significant advancement in […]
Indian Oil Corporation Limited (IndianOil) and industrial biotech company Praj Industries Limited have formalized plans to bolster biofuels production capacities in India. The two companies signed a term sheet that includes a variety of biofuels, such as Sustainable Aviation Fuel (SAF), Ethanol, Compressed Bio-Gas (CBG), Biodiesel, and Bio-bitumen. This initiative follows an agreement reached in […]
3i Infotech has bagged a managed services contract renewal worth INR 16.29 crores from Indian Oil Corporation Limited (IOCL). In this connection, the Mumbai-based IT company will offer managed services for IOCL’s data center (DC) IT infrastructure for a period of three years. 3i Infotech said that the contract renewal demonstrates IOCL’s dedication to comply […]
Indian Oil Corporation Limited (IndianOil) said that its board has sanctioned ‘Stage-I’ approval for establishing the Paradip Petrochemical Complex at Paradip in Odisha with an investment of INR 61,077 crores. The new petrochemical project in Paradip will be IndianOil’s largest-ever investment at a single location. The Paradip Petrochemical Complex will comprise an international-scale cracker unit […]