Oil India

Govt bails out ONGC, OIL of Rs 22,000 cr royalty liability

Govt bails out ONGC, OIL of Rs 22,000 cr royalty liability

The central government will pay two state-owned firms' outstanding liabilities of Rs 14,698 crore directly to the state governments, who will not insist on levy of Rs 7,223 crore interest on payments that were due from April 2008.

Feb 28, 2017, 15:41 PM IST
Cabinet clears IOC-OIL-BPCL's Russian stake buy for $3.14 bn

Cabinet clears IOC-OIL-BPCL's Russian stake buy for $3.14 bn

The Cabinet on Wednesday gave its nod to a consortium of IOC, Oil India and BPCL buying stakes in two Russian oilfields for a total of USD 3.14 billion.

Sep 28, 2016, 14:28 PM IST
ONGC saddled with Rs 392 cr additional royalty, Rs 1,100 cr burden on Oil India

ONGC saddled with Rs 392 cr additional royalty, Rs 1,100 cr burden on Oil India

ONGC will have to shell out Rs 392 crore and Oil India Ltd over Rs 1,100 crore after the government ordered them to pay royalty at gross crude oil price and not the net rate they actually realise.

Jul 22, 2016, 10:47 AM IST

Oil PSUs to pay royalty on gross price to producing states

In a bonanza to oil producing states like Assam, the government has ordered state-owned ONGC and Oil India to pay royalty to them on the gross price for crude oil and not the net rate they actually realise.

Jul 18, 2016, 21:45 PM IST

Oil companies seek cut in cess on crude

State-owned oil producers ONGC and Oil India as well as private sector Cairn India have asked the government to cut cess on crude oil they have to pay in view of slump in prices.

Sep 21, 2015, 14:25 PM IST

Oil India gets green nod to produce 1 mmscmd gas in Jaisalmer

State-run Oil India Ltd has got environment clearance for drilling 20 wells in three blocks in Jaisalmer, Rajasthan for production of 1 mmscmd gas at an estimated cost of Rs 96 crore.

Sep 11, 2015, 14:52 PM IST

Oil exploration cos in huge demand; shares rally up to 20%

Shares of oil exploration companies were in huge demand Wednesday, surging up to 20 percent, as the government decided to auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms.

Sep 02, 2015, 20:37 PM IST
Govt to auction 69 oil & gas fields; Rs 70,000 crore to be monetised

Govt to auction 69 oil & gas fields; Rs 70,000 crore to be monetised

In a 'paradigm' shift, government will auction 69 idle oil and gas fields of state-owned ONGC and Oil India to private firms on a new revenue sharing model and liberalised terms including pricing and marketing freedom.

Sep 02, 2015, 20:36 PM IST

Govt to auction 69 oil and gas fields of ONGC, OIL worth Rs 70,000 crore

The fields hold 89 million tonne of oil and gas resources which are worth Rs 70,000 crore at current prices.

Sep 02, 2015, 13:59 PM IST

Oil India reports marginal dip in Q4 profit to Rs 565.62 cr

State-owned Oil India Ltd on Saturday said March quarter net profit has dropped marginally to Rs 551.72 crore from Rs 565.62 crore in the same period a year ago.

May 30, 2015, 21:41 PM IST

Govt needs to reduce oil companies' burden over low margins: Fitch

Lower oil prices have reduced net margins of two state-owned upstream companies, Oil India Ltd and ONGC Ltd and the government needs to reduce the burden on them, credit rating agency Fitch said Friday.

May 08, 2015, 12:22 PM IST

India to auction 69 marginal fields owned by ONGC, Oil India: Official

"Marginal field policy will have approval soon for 69 fields which ONGC and Oil India have agreed to give. We hope to put them for bidding," Saurabh Chandra told reporters in New Delhi.

Apr 21, 2015, 13:45 PM IST

Oil India commissions 54 MW wind energy project

The project cost Rs 439 crore -- Rs 126.5 crore for the Gujarat side and Rs 312.45 crore for the Madhya Pradesh location.

Apr 17, 2015, 13:09 PM IST

Govt may exempt ONGC, OIL from payment of fuel subsidy in Q4

The government regulates price of cooking fuels -- LPG and kerosene -- to shield the poor.

Mar 27, 2015, 15:04 PM IST

India may exempt ONGC, Oil India from paying subsidy in March-quarter

India regulates retail prices of liquefied petroleum gas and kerosene to keep prices under check.

Mar 27, 2015, 12:19 PM IST

Petronet top post: GAIL directors, Oil India Chairman in race

About a dozen candidates, including top directors at gas utility GAIL India and Chairman of Oil India, are in the race to become the Managing Director and CEO of Petronet LNG, the nation's biggest liquid gas importer.

Mar 25, 2015, 17:28 PM IST

Oil diplomacy: Pradhan to visit Mozambique next month

Oil Minister Dharmendra Pradhan is likely to visit Mozambique next month to press the African nation to quickly ratify a law that will help Indian firms proceed with multi-billion dollar gas project.

Mar 17, 2015, 16:52 PM IST

Oil India Dec quarter profit halves to Rs 498.2 cr

Net profit stood at Rs 498.28 crore, or Rs 8.29 per share, in October-December 2014 compared to Rs 902.96 crore, or Rs 15.03 a share, in the same period a year ago, the company said in a statement here.

Feb 15, 2015, 15:12 PM IST

Oil India signs contract for two oil blocks in Myanmar

OIL-led consortium won these blocks under Myanmar offshore bidding round 2013 which was launched on April 11, last year.

Dec 13, 2014, 15:43 PM IST