Indian Oil Corporation Current Affairs - 2019
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The Public Enterprises Survey 2017-18 was tabled in the Parliament. The Survey mapped the performance of the various central public sector units. The survey was undertaken by the Department of Public Enterprises, Ministry of Heavy Industries & Public Enterprises.
Findings of the Survey
The major highlights of the performance of CPSEs are:
- Indian Oil Corporation, ONGC and NTPC were the top three most profitable PSUs in 2017-18. They contributed 13.37 per cent, 12.49 per cent and 6.48 per cent, respectively to the total profit earned by CPSEs (Central Public Sector Enterprises) during 2017-18.
- The fourth and fifth positions were occupied by Coal India and Power Grid Corporation in the list of top 10 profit making CPSEs in the 2017-18 fiscal.
- The Power Finance Corporation entered into the list of the top ten profit making CPSEs and the Mangalore Refinery & Petrochemicals Ltd did not feature in the latest list.
- The top ten profit making CPSEs accounted for 61.83 per cent of the total profit earned by all the 184 profit making state-owned firms during the year 2017-18.
- BSNL, Air India and MTNL incurred the highest losses for the second consecutive year. They contributed 52.15 per cent of the total loss incurred by CPSEs in 2017-18.
- The top ten loss-making PSUs claimed 84.71 per cent of the total losses made by all the 71 CPSEs.
- Bharat Coking Coal Limited which incurred huge losses in 2017-18 entered into the list of top ten loss making CPSEs.
- India Infrastructure Finance Co and Eastern Coalfields, which were profit-making PSUs till 2016-17, have started incurring losses and have featured in the list of top ten loss-making state-owned firms during 2017-18.
The survey notes that there were 339 Central Public Sector Enterprises (CPSE) in 2017-18, out of which 257 was in operation. Remaining 82 of the CPSEs were under construction.
Tags: Air India • Bharat Coking Coal Limited • BSNL • Coal India • Eastern Coalfields • India Infrastructure Finance Co • Indian Oil Corporation • Mangalore Refinery & Petrochemicals Ltd • MTNL • NTPC • ONGC • Power Finance Corporation • Power Grid Corporation • Public Enterprises Survey 2017-18
Haryana Government has signed Memorandum of Understanding (MoU) with Indian Oil Corporation (IOC) to set up ethanol plant at village Bohali village in Panipat district with an outlay of over Rs. 900 crore. The MoU will be valid for one year. This plant will motivate farmers in its 50 km radius area to manage crop residue and prevent straw burning and help to fulfill increasing demand of ethanol and also bio-fuels for consumers of petroleum product.
The proposed capacity of this ethanol plant will be of producing 100 kilolitres of ethanol per day. It will help to manage crop residue and prevent straw burning before upcoming paddy season. 10 cooperative and three private sugar mills in the state will provide raw fuel to this plant. There will be regular supply of raw material to this plant as paddy crop residue will be provided as raw material after end of paddy season in October and November and after that sugarcane crop residue will be supplied in cyclic manner.
It is an alcohol derived by process of fermentation mostly from carbohydrates of agricultural residue and feedstocks. It acts as a quasi-renewable energy, as it can be easily blended with petrol or diesel, thus making it sustainable transport fuel. Its long-term usage will help to reduce emissions and dependency on imported fossil fuel. It will benefit farmers economically, as they will be paid for their agro-based produce to extract bio-ethanol. It would also help in preventing loss of fertility of soil and damage to environment by reducing air pollution caused by burning of leftover agro-based produce.