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'Cos may produce oil, gas before investment plans are cleared'

Last Updated: Wednesday, October 23, 2013, 17:48

In a major development, Petroleum Ministry has allowed companies like Reliance Industries and Cairn India to start producing oil and gas from discoveries even before field investment plans are approved.

RBI opens special window for forex purchase by oil companies

Last Updated: Wednesday, August 28, 2013, 22:42

RBI on Wednesday opened a special window to help the three state-owned oil marketing companies needing about USD 8.5 billion every month meet their daily foreign exchange requirement in a bid to check the rupee's free fall.

RBI directs oil cos to buy dollars from one PSU bank

Last Updated: Tuesday, July 09, 2013, 19:00

State oil refiners, who are the biggest buyers of US dollars, agreed to implement the RBI order with immediate effect, sources with direct knowledge of the development said.

RBI discusses ways with oil cos to manage dollar demand

Last Updated: Monday, July 08, 2013, 20:20

State-owned oil firms are biggest buyers of US dollars, requiring USD 8-8.5 billion every month for import of an average 7.5 million tonnes of crude oil.

PSU oil cos seek immediate hike in petrol price

Last Updated: Thursday, August 09, 2012, 20:59

With losses widening to Rs 3.56 per litre, public sector oil firms Thursday sought an immediate hike in petrol price but were unsure if the government will allow them to do so.

Foreign cos should keep off South China Sea: China

Last Updated: Monday, November 21, 2011, 17:44

Oil exploration activities by India`s ONGC Videsh in the waters off Vietnam had recently irked China.

Oil firms net loss at over Rs 8,000 cr in Q2

Last Updated: Tuesday, November 08, 2011, 16:35

State-owned fuel retailers, which last week raised petrol price by Rs 1.80 per litre, reported a net loss of over Rs 8,000 crore in July-September quarter and are borrowing heavily to even buy crude oil.

Oil PSUs employed 3,872 people in FY'11

Last Updated: Thursday, July 14, 2011, 19:11

State-owned oil companies provided employment to 3,872 persons in the fiscal year 2010-11, a government statement said on Thursday.