OMCs attract positive media coverage in Aug’17; IOCL’s news sentiment hits 5-year high
Media coverage was overwhelmingly positive for Oil Marketing Companies (OMCs) during August 2017. Corporate growth, expansion and M&A related news flow dominated the media coverage for OMCs in the past month.
Indian Oil Corporation Ltd (IOCL), the country’s largest OMC, witnessed a marked improvement in positive media coverage during August 2017.
At the same time, Hindustan Petroleum Corporation Ltd (HPCL) has also recorded a sharp improvement in positive media coverage during August 2017. However, Bharat Petroleum Corporation Ltd (BPCL) witnessed a modest improvement in news coverage in the previous month.
Overwhelmingly positive media coverage pushed IOCL’s news sentiment average for August 2017 to the highest level in the last 5-years.
Here are some of the news items published in August 2017 that have lifted IOCL’s news sentiment average for the past month:
- Indian Oil to invest Rs 1.8 trillion to expand refineries, new businesses
- Indian Oil Corp aims to source a tenth of oil needs from own assets
- Indian Oil, HPCL, BPCL gain on report of kerosene subsidy removal
- Indian Oil, partners look for cheaper site for Pacific NorthWest LNG terminal
- Indian Oil plans $2.4 billion expansion of Gujarat refinery
- Indian Oil to buy up to 50% stake in Adani GSPC LNG terminal in Mundra
- Indian Oil Corp eyes doubling its refining capacity by 2030
- Indian Oil Corporation gets govt nod to buy US crude oil every month this year
- Malaysia’s Petronas keen to buy stake in Indian Oil’s LNG terminal: IOC
- Indian Oil to invest Rs 52,000 cr in Paradip refinery as Odisha partly restores tax sops
- Indian Oil to invest Rs 32,000 cr to ramp up petrochemical capacity by FY21
- Indian refiners surge as Hurricane Harvey hits US operations
Surge in corporate growth and expansion related news coverage lifts IOCL’s media sentiment score
Corporate growth, expansion, earnings and business transactions related news flow dominated the media coverage for IOCL in the past 12-month. A sharp increase in corporate growth and expansion related news flow during August 2017 pushed IOCL’s media sentiment to a multi-year high.
IOCL tops media coverage in the past 12-months
At 41.5%, the share of voice for IOCL was highest among oil marketing companies for the past 12-months.
Volume of positive news surges for IOCL in August 2017
IOCL has recorded a jump in volume of positive news during August 2017. As a result, media sentiment score touched a multi-year high.
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