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IOC close to secure export deal from Mauritius: Report

21 Aug 2020 Evaluate

Indian Oil Corporation (IOC) is reportedly nearing to bag its first order to export up to 720,000 tonnes of clean products to Mauritius. Of total, the state-owned oil and gas company is likely to supply 205,000 tonnes of 95 RON gasoline, 235,000 tonnes of ten parts per million (ppm) gasoil, 175,000 tonnes of jet fuel, and about 105,000 tonnes of marine gasoil.

Earlier in May, the company won its first contract to supply fuels to Bangladesh. Due to declining local demand as a result of the Covid-19 outbreak and weak margins, IOC is seeking to engage in sales of its fuels. 

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

Peers
Company Name CMP
Reliance Industries 1223.30
Indian Oil Corpn. 128.55
Bharat PetroleumCorp 293.55
HPCL 348.40
MRPL 174.85
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