Rs 31,850-crore refinery in Nagapattinam to focus on petrochemicals if oil-based fuel demand declines.
The Indian Oil Corporation said in a statement that the LPG booking and delivery system, managed by IBM India, has experienced an outage for the last two days and is currently under recovery.
Bangladesh is trying to buy cheap oil from Russia to reduce its crude bill and possibly routing the shipment via India.
A 69-km-long petroleum pipeline between Motihari in Bihar and Amlekhgunj in Nepal's Bara district constructed with India's assistance is already in operation.
Earlier, L&T earlier bagged a significant contract for another project under the same P-25 project of IOCL at Panipat.
The Ministry of Power and Energy has announced that Lanka IOC has been granted permission to open 50 new fuel stations islandwide. LIOC at present has 211 outlets.
During the trial run, the IOC will transport three LPG tankers and seven tankers of petrol and diesel through Bangladesh from Guwahati.
However, the IMF programme has hit a snag in the form of restructuring of debt. Even the World Bank has refused to provide any aid until a detailed macroeconomic policy is in place.
This is the first quarterly loss reported by the company in the past two years. The company had posted a net profit of Rs 5,941.37 crore in the same period a year ago.
Sources say since Ranil Wickremesinghe is viewed as a friend of India, there is every possibility of INR trading getting the go-ahead.
The company, which is a subsidiary of state-owned Indian Oil Corporation (IOC), is operating all its petrol pumps normally and is provisioning to meet the increased rush.
Fuel shortages have led to serpentine queues at retailers and with the end of the credit line worth USD 700 million granted by India, the pumps have run dry.
The news on IOC boss Gupta's visa came as the LIOC had come to the fore since early this week as the only source of fuel for much hassled private vehicle owners.
Oil spreads to farmland, traffic movement near site suspended
The work is moving at snail's pace and has also damaged roads in several localities in the city, causing inconvenience to motorists.
IOC reported a 31.4 per cent drop in the fourth quarter net profit as record refining margins were wiped away by a margin squeeze in petrochemicals and losses on auto fuel sales.
The Road Transport and Highways Minister further said the trial of bringing calorific value of ethanol at par with petrol by Indian Oil Corporation was successful.
The accused are part of an inter-State gang involved in diesel theft from IOCL pipelines. Earlier on January 20, police had arrested four persons in this connection.
“Being the Energy of India, we are committed to powering India’s drive towards carbon neutrality by leveraging the power of green hydrogen.
The joint ventures will look to manufacture zero-carbon emitting hydrogen, which is used from refineries to steel plants to even running automobiles, via electrolysis powered by renewable energy.