Indian Oil to raise refining capacity by 30 percent

October 13th, 2009 Chaparral Energy in deal to go publicOKLAHOMA CITY — Privately held oil and gas producer Chaparral Energy Inc. would go public as a result of a deal with United Refining Energy Corp., a company created two years ago to make deals in the energy business.

October 6th, 2009 Sunoco idles refinery, furloughs 400; dividend cutPHILADELPHIA — Sunoco Inc. says it will idle its Eagle Point refinery in Westville, N.J., furlough 400 workers and cut its dividend.

August 6th, 2009 Hawaiian Airlines July traffic jumps 10.4 percentNEW YORK — Hawaiian Airlines said Thursday its traffic jumped 10.4 percent in July on a slight increase in capacity. Hawaiian flew paying passengers 745.4 million miles last month, compared with 675.4 million a year earlier.

July 30th, 2009 Indo-ASIAN NEWS SERVICE NEW DELHI - India's largest refiner Indian Oil Corp Thursday said its net profit for the quarter ended June 30 surged 780 percent as lower crude oil prices narrowed its revenue losses. The company reported a net profit of Rs.3,680 crore ($763 million) for the quarter compared to Rs.410 crore in the like period the year before.

July 2nd, 2009 Hitachi to supply lithium-ion batteries to GMTOKYO — Japanese electronics maker Hitachi Ltd. said Thursday it will supply lithium-ion batteries for hybrid vehicles to General Motors Corp.

June 30th, 2009 NEW DELHI - Inaugurating the golden jubilee celebrations of Indian Oil Corporation (IOC), President Pratibha Patil Tuesday hoped the state refiner would continue to expand production to increase the country's energy security. As Indian Oil owns and operates 10 of India's 20 refineries, accounting for 34 percent of the national refining capacity, I am sure that the nation can count on its contribution in increasing production, Patil said in her address at a function here.

June 11th, 2009 NEW DELHI - A two-day National Conference on the 'State of Competition in the Indian Economy' will begin here today. The conference is being organised by the Competition Commission of India (CCI).

April 28th, 2009 Chinese refiner Sinopec: 1Q net profit up 85 pctSHANGHAI — China Petroleum & Chemical Corp., Asia's largest refiner by capacity, said Tuesday that its net profit rose 85 percent in the first quarter, helped by rising prices for oil products and lower crude oil costs. The company, also known as Sinopec, reported a net profit of 11.2 billion yuan ($1.6 billion) in January-March, up from 6.06 billion yuan in the first quarter of 2008.

April 23rd, 2009 MUMBAI - India's largest private sector company, the Mukesh Ambani-controlled Reliance Industries, Thursday reported a 1 percent drop in net profits for the quarter ended March 31 at Rs.3,874 crore (Rs.38.74 billion or $774.8 million). The turnover of the oil refining to retail major also dipped nearly 24 percent at Rs.29,073 crore for the fourth quarter in what had been a difficult year for oil refining companies in the wake of high crude prices and lower margins.

April 23rd, 2009 MUMBAI - India's largest private sector company, the Mukesh Ambani-led Reliance Industries, Thursday reported a 1-percent drop in net profit for the quarter ended March 31, at Rs.3,874 crore (Rs.38.74 billion or $774.8 million). The turnover of the oil refining to retail major also dipped nearly 24 percent at Rs.29,073 crore for the fourth quarter in what had been a difficult year for oil refining firms across the globe in the wake of high crude prices and low margins.

April 18th, 2009 MUMBAI - The Mukesh Ambani-controlled Reliance Industries Ltd has surrendered the export-oriented unit (EOU) status of its refinery in Gujarat's Jamnagar to sell fuel in the domestic market. 'The refinery will now operate as a non-EOU refinery to cater to increasing demand of petroleum products in the country,' the company said in a statement.

April 13th, 2009 MUMBAI - Global pharmaceutical major Pfizer Monday said it will make an offer to acquire a further 33.77 percent in its Indian subsidiary Pfizer Ltd for Rs.6.8 billion. The acquisition will raise its stake to 75 percent.

February 17th, 2009 NEW DELHI - Natural gas supplies from the Krishna-Godavari basin, off the Andhra Pradesh coast and awarded to Reliance Industries, will start from April with 40 million metric standard cubic metres per day, Petroleum Minister Murli Deora said Wednesday. Addressing the members of the parliamentary consultative committee attached to the oil ministry, Deora said the production will significantly address the country's demand for fuel, especially for domestic and transport sectors.

January 26th, 2009 KOLKATA - With a drop in India's polymer exports due to the ongoing global slowdown, the industry has now reduced the target for 2008-09 from $4.3 billion to $4.1 billion. 'We are now projecting an export figure of $4.1 billion for this year,' PlastIndia Foundation president Arvind M.

December 24th, 2008 NEW DELHI - Reliance Industries Ltd (RIL) Thursday commissioned its second refinery in Gujarat, which has a capacity to process 580,000 barrels of oil per day. Announcing the launch, Reliance Petroleum, a subsidiary of RIL, said the entire refinery complex at Gujarat's Jamnagar will attain full capacity shortly.