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.
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.
Last Updated: Thursday, December 05, 2013, 18:30
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.
Last Updated: Wednesday, December 04, 2013, 21:37
Keen to sell more crude oil to India, Iran's Industry Minister Mohammad Reza Nematzadeh Wednesday sought resolution of payment issues to promote trade between the two nations.
Last Updated: Tuesday, November 26, 2013, 17:41
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.
Last Updated: Monday, November 25, 2013, 19:27
The rating agency said out of the oil subsidies allocation of Rs 65,000 crore in the budget for this fiscal, the government has already given out Rs 45,000 crore to pay oil marketing companies for the subsidy gap incurred in FY13.
Last Updated: Tuesday, November 12, 2013, 18:38
Net profit in July-September quarter dipped to Rs 903.64 crore, or Rs 15.03 per share, from Rs 954.57 crore, or Rs 15.88 a share, the company said in a statement here.
Last Updated: Sunday, October 20, 2013, 12:51
ONGC Videsh (OVL) and Oil India will split equally the 10 percent stake they acquired in a giant Mozambique gas field from Videocon Group for USD 2.475 billion.
Last Updated: Wednesday, October 16, 2013, 11:43
A consortium of ONGC Videsh, Indian Oil and Oil India has decided against buying 11 percent stake that their partner Petronas of Malaysia is selling in a USD 20 billion oil project in Venezuela.
Last Updated: Friday, October 04, 2013, 17:24
The government has approved ONGC Videsh Ltd and its partner Oil India Ltd acquiring a total of 20 percent stake in a giant offshore gas field in Mozambique for over USD 5 billion.
Last Updated: Thursday, October 03, 2013, 22:11
Mozambique gas field is estimated to hold as much as 65 trillion cubic feet of gas.
Last Updated: Monday, September 23, 2013, 22:29
Oil India Limited (OIL) has registered a turnover of Rs 9,947.57 crore during 2012-13 compared to Rs 9,863.23 crore the previous year.
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