IOC surges as it plans to pick up stake in Africa’s LNG projects with GAIL

Indian Oil Corporation Ltd. | Refineries | Oil & Gas | BSE: 530965 | NSE: IOC

09 Dec 2011 Evaluate

IOC is currently trading at Rs. 270.00, up by 3.70 points or 1.39% from its previous closing of Rs. 266.30 on the BSE.

The scrip opened at Rs. 266.00 and has touched a high and low of Rs. 272.85 and Rs. 265.00 respectively. So far 117729 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 391.60 on 15-Dec-2010 and a 52 week low of Rs. 254.45 on 24-Nov-2011.

Last one week high and low of the scrip stood at Rs. 272.85 and Rs. 263.10 respectively. The current market cap of the company is Rs. 64656.37 crore.

The promoters holding in the company stood at 78.92% while Institutions and Non-Institutions held 5.93% and 15.15% respectively.

In a bid to meet growing energy needs of the country, State-owned Indian Oil Corp (IOC) and GAIL are looking at picking up an equity stake in LNG projects in Africa. Both the companies are interested in farm-in opportunities in producing blocks, especially in Libya, Algeria, Egypt and Nigeria.

Hydrocarbon-rich Africa today supplies 35.31 million tonne, or 21.5%, of the nation’s crude oil needs. With natural gas demand projected to double in five years, India is looking to tie-up long-term supplies of liquefied natural gas from Africa.

India is the world’s fourth-largest oil importer after the US, China and Japan. At present, natural gas accounts for around 10% of India's primary energy basket, as against the world average of 24%. Recently, IOC, the country’s biggest refiner was planning to expand capacity by 87% to 2.46 million barrels per day (bpd) by 2020-21. At present, IOC and its subsidiary - Chennai Petroleum together control half of India’s 20 refineries with a capacity of 1.314 million bpd.

Indian Oil Corp. Share Price

146.85 -1.30 (-0.88%)

07-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1435.70
Indian Oil Corp.	146.85
BPCL	307.60
HPCL	396.25
MRPL	155.40
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