The first in the series of the AIMA-IndianOil Awards, instituted jointly by Indian Oil Corporation Ltd. and AIMA to recognise and award the best motivational practice was presented in the capital today.

Dr. R.K Malhotra has taken over as Director (Research & Development), IndianOil today. Prior to his elevation to the Board, Dr. Malhotra was Executive Director of IndianOil’s world-class Research and Development Centre at Faridabad.

IndianOil, India's largest commercial enterprise and the leading Indian company on the Fortune Global 500 listing, has signed an MoU with Tamil Nadu Industrial Development Corporation Ltd.

Indian Oil Corporation Ltd. (IndianOil) has posted a loss of Rs. 3,388 crore for the first quarter of the current financial year ended June 2010 as compared to a profit of Rs. 3,683 crore for the same quarter of the previous year.

Recognizing the positive move of the Government of India by granting autonomy to the PSU Oil Marketing Companies (OMCs) to revise petrol prices and possible autonomy in revising diesel prices in the near term, ICRA on 28th June’10 updraded the long term rating on outstanding long term debt programme of IndainOil from ‘LAA+’ to ‘LAAA’ (highest grade).

Investor’s sentiments bolstered after the Government decontrolled the petrol prices and hiked the prices of Diesel, LPG & Kerosene on 25th June’10.