Oil India gets green nod to produce 1 mmscmd gas in Jaisalmer

Last Updated: Friday, September 11, 2015, 14:52

State-run Oil India Ltd has got environment clearance for drilling 20 wells in three blocks in Jaisalmer, Rajasthan for production of 1 mmscmd gas at an estimated cost of Rs 96 crore.

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 exploration cos in huge demand; shares rally up to 20%

Last Updated: Wednesday, September 2, 2015, 20:37

Shares of oil exploration companies were in huge demand Wednesday, surging up to 20 percent, as the government decided to auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms.

Govt to auction 69 oil & gas fields; Rs 70,000 crore to be monetised

Last Updated: Wednesday, September 2, 2015, 20:36

In a 'paradigm' shift, government will auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms including pricing and marketing freedom.

Govt to auction 69 oil and gas fields of ONGC, OIL worth Rs 70,000 crore

Last Updated: Wednesday, September 2, 2015, 13:59

The fields hold 89 million tonne of oil and gas resources which are worth Rs 70,000 crore at current prices.

Govt not to go ahead with OIL stake sale soon

Last Updated: Sunday, August 30, 2015, 11:13

The government had planned to sell 10 percent shares in OIL, the nation's second biggest state-owned oil producer.

Modi to bet $1.5 billion on palm oil plan as imports surge

Last Updated: Tuesday, August 18, 2015, 13:03

India plans to spend $1.5 billion in the next three years to help farmers grow oil palm trees in an area the size of New Jersey, government sources said, with Prime Minister Narendra Modi pushing to make the nation self-sufficient in edible oils this decade.

India to clear dues worth $6.5 bn to Iran in tranches: Govt

Last Updated: Monday, August 17, 2015, 18:37

India will clear USD 6.5 billion of dues it owes to Iran for oil import in tranches, with the first installment going out as early as in a week, Finance Secretary Rajiv Mehrishi has said.

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.

Iran deal could help India boost exports by over a third: Trade body

Last Updated: Tuesday, July 14, 2015, 23:15

India`s exports to Iran could jump by over a third to $6 billion this fiscal year as an easing of sanctions against Tehran would help boost sales of agricultural commodities though competition for non-farm items would rise, a leading trade body said.

Saudi Arabia loses spot as top crude supplier to India, China

Last Updated: Wednesday, June 24, 2015, 21:39

Saudi Arabia lost its spot last month as India`s top oil supplier to Nigeria for the first time in at least four years, according to ship tracking data compiled by Reuters, as the world`s top crude exporter struggles to maintain market share in Asia.