Latest news with #IndianOilCorporationLtd
Fibre2Fashion
3 days ago
- Business
- Fibre2Fashion
India's LAB prices dip amid rising imports & softening feedstock costs
India's surfactant sector still relies heavily on linear alkyl benzoene (LAB), with local demand expected to reach over 720 KTA in fiscal 2024 (FY24) and 767 KTA in fiscal 2025 (FY25) with a growth rate of CAGR 6.53 per cent. Due in large part to India's expanding presence in the global soap and detergent industry, the market has demonstrated resilience in the face of global challenges. India's LAB demand is rising, but prices fell from ₹132/kg (~$1.55/kg) in Jan to ₹129/kg (~$1.51/kg) in May 2025 due to weak upstream costs, rising regional supply, and cautious buyer sentiment. Imports are expected to ease with IOCL's capacity ramp-up. Prices may drop ₹3â€'7/kg (~$0.04â€'$0.08/kg) from Junâ€'Aug 2025 amid stable but soft LABSA demand and higher feedstock availability. In fiscal 2023 (FY23), Indian Oil Corporation Ltd (IOCL) increased its LAB production capacity from 120 KTA to 162 KTA in order to meet the growing demand. However, India's LAB production fell to 400 KTA in FY23 from 457 KTA the year before as a result of planned shutdowns and de-bottlenecking efforts. With the exception of Reliance Industries Ltd's 60 KTA halted plant, the domestic operating rate was 93 per cent. This shortfall in production was offset by a rise in imports, which peaked at 337 KTA in FY23. With IOCL's capacity enhancement now complete, imports are expected to moderate, reflected in a projected 281 KTA and 310 KTA import level for FY25 and fiscal 2026 (FY26). Current Market Drivers (as of April–May 2025): From January to April 2025, Indian Linear Alkyl Benzene (LAB) prices showed a moderating trend. Starting the year at around ₹132 per kg in Jan 2025. However, by April 2025, a notable downward correction occurred. The decline continued into May 2025 around ₹129 per kg. This sustained reduction aligns with broader market dynamics, including weaker upstream costs, increased regional supply post-turnarounds, and softening buyer sentiment. Despite earlier resistance from suppliers, the growing supply and downward pressure on feedstock prices have begun to weigh on LAB prices in the Indian market. Downward Pressure on Prices: Falling Naphtha Prices: A major feedstock for LAB production, naphtha prices have declined significantly due to weak crude markets and improved refining margins. Negative Market Sentiment: Buyers are cautious, driven by sluggish demand recovery and global economic uncertainties. Plant Restarts in Asia: Key LAB production facilities in Asia have resumed operations post-maintenance, boosting regional supply. Expected LAB Price Trend in India (June–August 2025) Forecast: Indian Linear Alkyl Benzene (LAB) prices are expected to remain under pressure or decline modestly in the next quarter (June to August 2025), Overall, a gradual decline of ₹3–7/kg is expected over the next quarter. Reasons for the Expected Trend: 1. Weak Upstream Cost Support: Benzene and naphtha prices are on a declining trajectory Lower feedstock prices reduce cost push on LAB, encouraging sellers to lower offers. 2. Rising Regional Supply: Post-turnaround plant restarts in China and South Korea have increased LAB availability in the Asian market. Greater availability of feedstock normal paraffins may ease production constraints, further softening prices. 3. Buyer Sentiment & Inventory: Indian buyers remain cautious and price-sensitive, with ample inventory coverage. Expectation of lower offers is delaying procurement, reinforcing downward price pressure. 4. Stable but Soft Downstream LAS Demand: While the LABSA market is steady. Buyers are continuing to seek price reductions, aligning with upstream softness. Fibre2Fashion News Desk (VK)
Hans India
4 days ago
- Business
- Hans India
Odisha CM launches Rs 275 crore projects in Bhadrak
Odisha Chief Minister Mohan Charan Majhi on Monday inaugurated and laid the foundation stone for 13 developmental projects worth around Rs 275 crore at Balia Pada in Bhadrak district. Among the 13 initiatives, nine were inaugurated while foundation stones were laid for four new projects. During the event, the Chief Minister made several major announcements for Bhadrak, including the establishment of a government university and the much-anticipated medical college, for which the foundation stone will be laid soon. Highlighting industrial development in the district, Majhi announced that Indian Oil Corporation Ltd (IOCL) will invest Rs 4,377 crore to set up a Technical Textile Complex in Bhadrak. Additionally, MCPI Private Limited will establish an HMLS polyester manufacturing unit with an investment of around Rs 2,224 crore. He also announced the beautification of all martyr memorial sites in Bhadrak, adding cultural and heritage significance to the region. "Since our government came to power, we have fast-tracked Bhadrak's development, a land known for revolutionaries. We are committed to fulfilling every promise made to the people without wasting a single moment," he said during his address. He also highlighted major decisions taken by the state government in the last 12 months, which include the launching of Subhadra Yojana, providing farmers Rs 800 more per quintal of paddy, opening all four gates of the Jagannath Temple, and allocation of Rs 500 crore corpus fund for rituals and services at the Jagannath Temple. The Chief Minister announced that a detailed report on the government's one-year achievements will be presented to the public on June 12. Speaking on the state's development vision, Majhi said, 'Livelihood and employment are vital for growth. We are continuously working to improve citizens' financial well-being through agriculture, allied activities, and industrial development.' He criticised the previous government for spending 24 years "only painting pictures of development" under the guise of providing world-class education and healthcare, without delivering concrete outcomes. 'True development has just begun,' he asserted. 'In the next few years, Odisha's primary education landscape will be completely transformed—not with flashy slogans, but with real outcomes,' he said, targeting the earlier regime's 5T (Technology, Teamwork, Transparency, Time, and Transformation) campaign. Highlighting the government's industrial momentum, he said, 'In just 120 days, under the 'Utkarsa Odisha' initiative, projects worth over Rs 80,000 crore have been launched. On May 22 alone, 10 projects worth Rs 1.65 lakh crore received approvals. This marks the beginning of an industrial revolution in Odisha, with every district, including Bhadrak, being part of this transformative journey.'
Time of India
17-05-2025
- Business
- Time of India
IOCL targets $1 trillion revenue by 2047, to enter data centres, nuclear power, battery and mining sectors
Indian Oil Corporation Ltd (IOCL) is looking to diversify into data centres, nuclear power generation , shipping, critical mineral mining, and battery manufacturing among sectors, said people aware of the development. In its core business, India's top refiner and fuel retailer is targeting 100 million metric tonnes per annum (mmtpa) refining capacity and 13 mmtpa petrochemical capacity by FY28, the people said. These initiatives are part of IOCL's strategy to reach $1 trillion revenue and achieve net zero emissions operationally by 2047. Senior IOCL executives highlighted in their 'Imagining Tomorrow' presentation to the board last month growth areas that the company will focus on till 2030. The state-run company's refining capacity target will mark a 25% jump from 81 mmtpa currently. Plenty of partnerships Petrochemical output will rise more than threefold from 4.3 mmtpa. Natural gas distribution and trading business will more than double to 16.5 million metric tonnes (mmt) from 8 mmt. In the new businesses of green energy, IOCL is targeting 31 GW capacity, a sharp increase from 247 MW presently. It is also aiming at 80 kilo tonnes per annum (ktpa) green hydrogen capacity, and five gigawatt hours lithium-ion cell battery production. In an email response, a spokesperson for IOCL said in line with the company's vision of the 'Energy of India', it is exploring all potential areas relating to the energy business, including entering new segments. 'The company's expansion into the new and alternate energy space involves substantial capital expenditure, with projects being implemented both on the company's balance sheet and through specially-formed special purpose vehicles (SPVs),' the spokesperson said, adding to ease execution and implementation risks, IOCL is collaborating with leading strategic partners across sectors. These partnerships not only help in risk diversification but also contribute to fund mobilisation through shared investment commitments. 'The significant capital outlay required for these initiatives will be financed through a well-balanced mix of internal accruals and debt,' the spokesperson said, without elaborating on the capex plans. In the data centre business, IOCL is exploring opportunities to monetise existing spare fibre assets, available real estate, besides leveraging synergies with existing and planned green energy and new business domains. 'The company is also planning to set up import and export-ready infrastructure on the East and the West coast, and will enter Africa and other geographies for retailing,' said one of the persons cited above. The company is also exploring ways to bolster its maritime logistics through partnerships—both in India and abroad—as per the presentation, adding that as part of its energy transition strategy, it plans to join multiple nuclear power projects. IOCL currently has a joint venture with Nuclear Power Corporation of India Ltd to set up two 700 MW units. 'Work is underway to identify and finalise the project site.' In shipping, the company is looking to tie-up with Shipping Corporation of India for very large crude carriers (VLCCs), the people said. The company is also restructuring its pipeline business to boost profits, they added. Indian Oil operates over 20,000 km of cross-country pipelines, forming the backbone of its fuel transportation logistics. 'Restructuring in pipelines is a continuous process which entails embracing cutting-edge technologies to further enhance operational efficiency. This allows us to position and utilise our workforce more efficiently, enabling us to manage a large quantum of work with optimised resources without compromising quality, reliability, or safety,' the IOCL spokesperson said.
Time of India
17-05-2025
- Business
- Time of India
IOCL targets $1 trillion revenue by 2047, to enter data centres, nuclear power, battery and mining sectors
Indian Oil Corporation Ltd (IOCL) is looking to diversify into data centres, nuclear power generation , shipping, critical mineral mining, and battery manufacturing among sectors, said people aware of the development. In its core business, India's top refiner and fuel retailer is targeting 100 million metric tonnes per annum (mmtpa) refining capacity and 13 mmtpa petrochemical capacity by FY28, the people said. These initiatives are part of IOCL's strategy to reach $1 trillion revenue and achieve net zero emissions operationally by 2047. Senior IOCL executives highlighted in their 'Imagining Tomorrow' presentation to the board last month growth areas that the company will focus on till 2030. The state-run company's refining capacity target will mark a 25% jump from 81 mmtpa currently. Plenty of partnerships Petrochemical output will rise more than threefold from 4.3 mmtpa. Natural gas distribution and trading business will more than double to 16.5 million metric tonnes (mmt) from 8 mmt. In the new businesses of green energy, IOCL is targeting 31 GW capacity, a sharp increase from 247 MW presently. It is also aiming at 80 kilo tonnes per annum (ktpa) green hydrogen capacity, and five gigawatt hours lithium-ion cell battery production. In an email response, a spokesperson for IOCL said in line with the company's vision of the 'Energy of India', it is exploring all potential areas relating to the energy business, including entering new segments. 'The company's expansion into the new and alternate energy space involves substantial capital expenditure, with projects being implemented both on the company's balance sheet and through specially-formed special purpose vehicles (SPVs),' the spokesperson said, adding to ease execution and implementation risks, IOCL is collaborating with leading strategic partners across sectors. These partnerships not only help in risk diversification but also contribute to fund mobilisation through shared investment commitments. 'The significant capital outlay required for these initiatives will be financed through a well-balanced mix of internal accruals and debt,' the spokesperson said, without elaborating on the capex plans. In the data centre business, IOCL is exploring opportunities to monetise existing spare fibre assets, available real estate, besides leveraging synergies with existing and planned green energy and new business domains. 'The company is also planning to set up import and export-ready infrastructure on the East and the West coast, and will enter Africa and other geographies for retailing,' said one of the persons cited above. The company is also exploring ways to bolster its maritime logistics through partnerships—both in India and abroad—as per the presentation, adding that as part of its energy transition strategy, it plans to join multiple nuclear power projects. IOCL currently has a joint venture with Nuclear Power Corporation of India Ltd to set up two 700 MW units. 'Work is underway to identify and finalise the project site.' In shipping, the company is looking to tie-up with Shipping Corporation of India for very large crude carriers (VLCCs), the people said. The company is also restructuring its pipeline business to boost profits, they added. Indian Oil operates over 20,000 km of cross-country pipelines, forming the backbone of its fuel transportation logistics. 'Restructuring in pipelines is a continuous process which entails embracing cutting-edge technologies to further enhance operational efficiency. This allows us to position and utilise our workforce more efficiently, enabling us to manage a large quantum of work with optimised resources without compromising quality, reliability, or safety,' the IOCL spokesperson said.
Time of India
17-05-2025
- Business
- Time of India
IOCL targets $1 trillion revenue by 2047, to enter data centres, nuclear power, battery and mining sectors
Mumbai: Indian Oil Corporation Ltd (IOCL) is looking to diversify into data centres, nuclear power generation , shipping, critical mineral mining, and battery manufacturing among sectors, said people aware of the development. In its core business, India's top refiner and fuel retailer is targeting 100 million metric tonnes per annum (mmtpa) refining capacity and 13 mmtpa petrochemical capacity by FY28, the people said. These initiatives are part of IOCL's strategy to reach $1 trillion revenue and achieve net zero emissions operationally by 2047. Senior IOCL executives highlighted in their 'Imagining Tomorrow' presentation to the board last month growth areas that the company will focus on till 2030. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dog licks arent kisses. Heres what your dog really means when it licks you. Novelodge Undo The state-run company's refining capacity target will mark a 25% jump from 81 mmtpa currently. Live Events Plenty of partnerships Petrochemical output will rise more than threefold from 4.3 mmtpa. Natural gas distribution and trading business will more than double to 16.5 million metric tonnes (mmt) from 8 mmt. In the new businesses of green energy, IOCL is targeting 31 GW capacity, a sharp increase from 247 MW presently. It is also aiming at 80 kilo tonnes per annum (ktpa) green hydrogen capacity, and five gigawatt hours lithium-ion cell battery production. In an email response, a spokesperson for IOCL said in line with the company's vision of the 'Energy of India', it is exploring all potential areas relating to the energy business, including entering new segments. 'The company's expansion into the new and alternate energy space involves substantial capital expenditure, with projects being implemented both on the company's balance sheet and through specially-formed special purpose vehicles (SPVs),' the spokesperson said, adding to ease execution and implementation risks, IOCL is collaborating with leading strategic partners across sectors. These partnerships not only help in risk diversification but also contribute to fund mobilisation through shared investment commitments. 'The significant capital outlay required for these initiatives will be financed through a well-balanced mix of internal accruals and debt,' the spokesperson said, without elaborating on the capex plans. In the data centre business, IOCL is exploring opportunities to monetise existing spare fibre assets, available real estate, besides leveraging synergies with existing and planned green energy and new business domains. 'The company is also planning to set up import and export-ready infrastructure on the East and the West coast, and will enter Africa and other geographies for retailing,' said one of the persons cited above. The company is also exploring ways to bolster its maritime logistics through partnerships—both in India and abroad—as per the presentation, adding that as part of its energy transition strategy, it plans to join multiple nuclear power projects. IOCL currently has a joint venture with Nuclear Power Corporation of India Ltd to set up two 700 MW units. 'Work is underway to identify and finalise the project site.' In shipping, the company is looking to tie-up with Shipping Corporation of India for very large crude carriers (VLCCs), the people said. The company is also restructuring its pipeline business to boost profits, they added. Indian Oil operates over 20,000 km of cross-country pipelines, forming the backbone of its fuel transportation logistics. 'Restructuring in pipelines is a continuous process which entails embracing cutting-edge technologies to further enhance operational efficiency. This allows us to position and utilise our workforce more efficiently, enabling us to manage a large quantum of work with optimised resources without compromising quality, reliability, or safety,' the IOCL spokesperson said.
