Oil India

Oil India News

Govt to auction small oil fields to private companies

While oil is priced at global benchmark currently, a complex international hub based formula determines gas price, which is roughly half of the rate at which India imports gas.

New slab-based formula for petroleum subsidy on the anvil

Plan expected to take into account declining global crude prices.

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Oil Ministry to overhaul exploration policy: Dharmendra Pradhan

Oil Minister Dharmendra Pradhan plans to overhaul the exploration policy to attract investors.

Oil India decides to restructure

Government-owned explorer Oil India has decided to restructure itself.

ONGC, Oil India subsidy bill to almost halve

OMCs’ losses to be shared equally by govt and upstream firms.

ONGC, Oil India to buy Indian Oil stake at Rs220/share

Oil minister M Veerappa Moily had on February 28 confirmed the sale would happen at 10 per cent discount.

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Oil India Q2 net drops 5.3%

Profits fell as it shelled out 7.5 per cent more fuel subsidy at Rs 2,233.70 crore in the quarter under review.

Iran offers to ship crude oil to India for free,Mangalore Refinery,Essar Oil,Indian Oil Corp may benefit

Despite the near halt of petrodollar payments,Iran is resorting to measures such as offering deep discounts on oil and now free delivery to India.

Parikh panel for capping subsidy bill for ONGC,OIL

This would give oil companies the freedom to revise price every time,

ONGC Videsh wins two oil blocks in Myanmar

ONGC Videsh Ltd,the overseas arm of state-owned Oil and Natural Gas Corp,has won two onland oil blocks in Myanmar.

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