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.
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.
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.
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.
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.
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.