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Business & Economy
Indianoil ranked top oil
company in Asia-Pacific
What is India News Service, Thursday, 7
April 2005, 1400 hrs IST
State-run refiner Indian Oil Corp (IOC) has been ranked
the number one oil trading company among national oil companies in the
Asia-pacific region.
As per the annual survey conducted by Singapore-based applied trading systems (ATS),
IOC has been ranked number one trading company ahead of Petronas of Malaysia,
Sinopec of China, Hindustan Petroleum Corp Ltd of India and Emirates National
Oil Co of United Arab Emirates, a company press release said.
This is the second year in succession that IOC has topped the list. The
survey covered 79 major petroleum-trading companies in the Asia pacific region.
In 2004-05, IOC imported almost 32 million tonnes of crude oil and over 3
million tones of petroleum products while exporting over one million tonnes of
products. For the year 2005-06, IOC plans to import around 40 million tonnes of
crude oil.
"Over the years, IOC has initiated series of measures to benchmark its
trading systems with international best practices. In order to enhance the use
of risk management tools to mitigate risks arising out of volatility in
international oil prices, IOC commenced derivative trading for the first time in
2004," the release added
Prez:
Low-cost technology can create jobs for 56 m:
Low-cost technology can give jobs to 56 million people in the next
five years in areas like cultivation of bio-fuels, bamboo plantation and
construction of rainwater harvesting structures, President APJ Abdul Kalam said
on Wednesday.
China has designs on Indian saris
:
After diwali lights, toys and cycles China is out to leave its mark on the
Indian sari industry.
Nokia
chooses Chennai \97 Plans to invest Rs 650 cr in manufacturing facility:
Nokia Corporation of Finland, a leading mobile handset manufacturer, will invest
about Rs 650 crore ($150 million) in a manufacturing plant at Sriperumbudur,
near Chennai.
Motorola
next?: The announcement by Nokia is just the beginning of a gold rush in
telecom manufacturing. The Americans, the Europeans, the Chinese, and the
Koreans are moving fast to stake their claim to the mouth-watering opportunities
offered by India.
Open sky with US queers IA,
A-I's shopping plans: The delayed agreement could be a setback for private airlines.
No ore sweetener for Posco:
Govt to provide only 480 mn tonnes of ore against the required 960 mn tonnes
Will
China and India co-opt in the 'new' Great Game:
As the Chinese premier Wen Jiabao's visit nears, we at The Pioneer
get you a curtain raiser on the possible energy cooperation that the two
countries are likely to get into for the energy securities of their respective
countries.
Mahindras
to appeal against Rs 304-cr excise duty claim: Mahindra & Mahindra Ltd
(M&M) will appeal against excise duty claims totalling Rs 304.11 crore.
Maruti
board clears Rs 3272-cr invt plan:
Maruti Udyog Ltd on Wednesday announced it would invest a total of
Rs 3,272 crore for a new car manufacturing plant and a new engine and
transmission unit, which aside from diesel engines will also make petrol engines
and gears.
India,
Pakistan considering optical fibre cable link: With the current thaw in
bilateral relations, India and Pakistan are exploring a proposal to connect each
other through an optical fibre cable link.
Rethink
on duty-free raw sugar imports: With domestic sugar output set to recover in
the ensuing 2005-06 crushing season (October-September), the Government is
having "second thoughts" over continuing with the existing concessions
on duty-free imports of raw sugar.
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