FinMin lines up 16 PSUs including ONGC, Oil India and Coal India for disinvestment

FinMin lines up 16 PSUs including ONGC, Oil India and Coal India for disinvestment

Finance Ministry has drawn up a list of 16 PSUs including ONGC, Oil India and Coal India for disinvestment in 2016-17 which could fetch the exchequer Rs 40,000 crore at current stock value.

Govt exempts ONGC, Oil India from fuel subsidy payment in Q3

Govt exempts ONGC, Oil India from fuel subsidy payment in Q3

Government has exempted state-owned ONGC and Oil India from payment of fuel subsidy in the third quarter ended December 31, as slump in oil prices dented their revenues.

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

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

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.

FinMin mulling transferring stake in divestment-bound oil PSUs

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

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

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

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.

PESB interviews six for Oil India CMD job, none found suitable

Government may invite fresh applications for top job at Oil India Ltd after its headhunters PESB did not find any of the six applicants, including the firm's Director (Finance) R S Borah, suitable.

Oil India net profit dips 33% in Q2 to Rs 608.33 cr

Oil India Ltd, the nation's second biggest state-owned explorer, Wednesday reported a 33 percent drop in its September quarter net profit as crude oil production fell and prices slumped.

Oil India seeks more hydrocarbon concessions globally

India's second largest public sector company Oil India Limited (OIL) is seeking more hydrocarbon concessions across the globe, including Brazil and Mexico.

Oil India raises $1 billion in overseas bond sale

State-run oil and gas explorer Oil India (OIL) Tuesday became the first Indian company to sell USD 1 billion worth of debt in its debut US dollar bond sale programme.

RIL, Oil India win two oil blocks each in Myanmar

Reliance Industries won two of the three offshore oil and gas blocks it bid for in Myanmar while ONGC Videsh Ltd drew a blank in the two areas it vied for.

ONGC, Oil India to buy Indian Oil stake at Rs 220 per share

Oil Minister M Veerappa Moily had on February 28 confirmed the sale would will happen at 10 percent discount.

Talukdar to take over as DGH Thursday

Talukdar, who currently is director for exploration in Oil India Ltd. (OIL), will replace a bureaucrat at the DGH.

ONGC, OIL want to buy IOC shares at 6-month average price

State-owned Oil and Natural Gas Corp (ONGC) has informed the government that it will buy 5 percent stake in Indian Oil Corp (IOC) at six month average trading price and not at current market rates.

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

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

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

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

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

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.