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India takes nearly 40% less Iranian oil in 2013

Last Updated: Thursday, January 30, 2014, 15:40

India imported nearly 40 percent less Iranian crude last year, with no sign in the last month of 2013 that the easing of Western sanctions in a landmark deal resulted in Indian refiners bumping up their purchases.

India overtakes Japan as world's No.3 crude importer

Last Updated: Thursday, January 30, 2014, 14:49

India imported 3.86 million barrels-per-day of crude oil last year, tanker arrival data compiled by Reuters from trade sources showed on Thursday.

ONGC to pay Rs 13,764 crore as fuel subsidy in Q3

Last Updated: Tuesday, January 28, 2014, 14:09

The government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.

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.

India seeks LNG from Mozambique

Last Updated: Wednesday, January 15, 2014, 21:46

After securing almost a third of a giant gas field in Mozambique, India Wednesday pitched for buying most of the natural gas from the project to feed its starving power plants back home.

Six months relief for India, countries importing oil from Iran

Last Updated: Tuesday, January 14, 2014, 00:20

India and other major Iranian oil importing countries have got six months relief from reducing their import after the Islamic Republic agreed to curb parts of its disputed nuclear programme.

ONGC-Oil India complete acquisition of Videocon stake

Last Updated: Wednesday, January 08, 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.

ONGC-OIL pay $2.475 bn to Videocon Group

Last Updated: Tuesday, January 07, 2014, 16:33

State-owned Oil and Natural Gas Corp and Oil India Ltd Tuesday paid USD 2.475 billion to Videocon Group for acquiring 10 percent stake in a giant gas field off Mozambique.

Oil India to enter dairy sector; inks pact with IRMA for study

Last Updated: Sunday, December 29, 2013, 16:02

According to company sources, a detailed project report (DPR) will be prepared after the study in two districts of Assam where Oil India Ltd (OIL) has significant presence.

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.

Iran-India officials discuss oil trade issues

Last Updated: Tuesday, December 10, 2013, 18:44

Weeks after a historic accord eased restrictions on Iran, a high level Iranian delegation Tuesday discussed with Finance Ministry officials the payment mechanism and shipping arrangements for increased oil trade.

Iran, India meeting to discuss oil payments on Tuesday

Last Updated: Tuesday, December 10, 2013, 17:42

Indian and Iranian officials are meeting on Tuesday to discuss how to unlock the first oil payments to the Middle Eastern nation since the US and other world powers eased sanctions last month in exchange for curbs to Tehran`s nuclear programme.