For 3rd time in 10 months, PESB fails to find new Oil India CMD

Last Updated: Thursday, September 10, 2015, 17:57

The Public Enterprise Selection Board (PESB) on Wednesday interviewed ten candidates, including the firm's Director (Finance) Rupshikha Saikia Borah, to select a new Chairman and Managing Director of OIL.

Oil India Q1 net profit drops 9% to Rs 775.42 crore

Last Updated: Wednesday, August 12, 2015, 19:11

State-owned Oil India Ltd (OIL) Wednesday reported 9 percent drop in its June quarter net profit on higher dry well write-off and provisioning for expenses.

FinMin mulling transferring stake in divestment-bound oil PSUs

Last Updated: Monday, July 20, 2015, 21:31

Ahead of government's plans to sell stake in oil companies, the Finance Ministry is considering to transfer some stake in disinvestment-bound PSUs to a separate company to insulate it from market volatility.

Govt to auction 69 small oil fields of ONGC, Oil India to private firms

Last Updated: Tuesday, April 21, 2015, 15:22

The government will soon auction 69 small and marginal oil fields of state-owned ONGC and Oil India to private firms as a precursor to a full fledged licensing round, Oil Secretary Saurabh Chandra said on Tuesday.

Govt picks up the tab for ONGC, OIL Q4 fuel subsidy

Last Updated: Thursday, April 16, 2015, 18:31

The government has exempted oil producers ONGC and Oil India Ltd from payment of fuel subsidy in the fourth quarter after the finance ministry agreed to meet all of the revenue loss on fuel sales.

OIL's 20 MW gas based power plant inaugurated

Last Updated: Wednesday, April 15, 2015, 21:58

Oil India Limited's 20 MW Gas Based Power Plant was inaugurated here by Minister of State for Petroleum and Natural Gas Dharmendra Pradhan today.

EGoM okays IOC share sale to ONGC, OIL for Rs 4,800-5,000 cr

Last Updated: Thursday, January 16, 2014, 18:26

In the first disinvestment through block deal this fiscal, a ministerial panel Thursday approved selling 10 percent government stake in Indian Oil Corp (IOC) to ONGC and OIL to rake in Rs 4,800-5,000 crore.

ONGC-Oil India complete acquisition of Videocon stake

Last Updated: Wednesday, January 8, 2014, 14:17

ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL) have completed the acquisition of Videocon Group's 10 percent stake in a giant Mozambique gas field for USD 2.475 billion, the companies said Wednesday.

Wildlife panel unhappy with OIL for violating green norms

Last Updated: Friday, December 27, 2013, 20:00

Days after Petroleum Minister Veerappa Moily took over additional charge of Environment Ministry, a wildlife panel has come down heavily on state-run Oil India Limited (OIL) for violating green norms while laying pipeline through an ecologically sensitive area in Assam.

Subsidy outgo hitting new investment in ageing fields: ONGC

Last Updated: Thursday, December 5, 2013, 18:30

State-owned Oil and Natural Gas Corp (ONGC) Thursday said it cannot make new investments needed to arrest falling oil production from ageing fields as its net price realisation has sharply fallen due to subsidy outgo.

Output growth under serious threat due to rising subsidy: ONGC

Last Updated: Tuesday, November 26, 2013, 17:41

Oil and Natural Gas Corporation (ONGC) has warned its output growth and international acquisitions are under "serious threat" due to disproportionate rise in fuel subsidy burden.

ONGC Videsh, Oil India to split Videocon stake equally

Last Updated: Sunday, October 20, 2013, 12:51

ONGC Videsh (OVL) and Oil India will split equally the 10 percent stake they acquired in a giant Mozambique gas field from Videocon Group for USD 2.475 billion.